Plans for the $2 billion farm, unveiled Sunday by Epuron, a subsidiary of German renewable energy group Conergy AG, include as many as 500 turbines producing enough electricity for 400,000 homes, the Sydney Morning Herald reported.

If the plant is constructed, it could reduce Australian greenhouse gas emissions by more than 3 million tons of carbon dioxide per year, the newspaper said.

The announcement comes on the heels of a federal government initiative to produce 30,000 gigawatt hours of clean energy per year by 2020.

Epuron is now negotiating with four land owners for the use of their property for the plant, and finalizing arrangements with government agencies.