Chinese wind turbine manufacturer Goldwind has acquired the 530MW Stockyard Hill wind farm in the Australian state of Victoria from Origin Energy.
Under the terms of the deal Origin has committed to a long-term power purchase agreement for the project’s electricity below $60 per megawatt-hour.
The AUS$110m sale is subject to a number of regulatory approvals, Origin said, and the offtake deal is also depended on Goldwind notching financial close. No timeline for the build was given.
Stockyard Hill will be about 35km west of Ballarat and will be Australia’s largest wind farm once built, the company added. It will feature 149 turbines.
Origin chief executive Frank Calabria said the sale shows how fast the energy tranisition is occurring in Australia.
He added the company is 300MW short of a 1500MW renewables capacity target announced last year.