Xinjiang Goldwind has agreed to acquire Stockyard Hill wind farm project from Origin Energy in Australia for around AUD$110m ($81.3m).
Origin Energy has also signed a power purchase agreement (PPA), under which it will buy all the energy and renewable energy certificates produced by the project located in Victoria.
Prepared for construction, the Stockyard Hill wind farm will be located in western Victoria, which is about 140km west of Melbourne.
Goldwind will use its 3s Smart Wind Turbine technology in the development of 530MW Stockyard Hill wind farm.
The company will provide its 149 3s smart turbines for the project, which is claimed to be the largest wind farm project in the southern hemisphere.
Goldwind said that it will work with the host landowners and the local community to develop the project. Stockyard Hill project will generate electricity, which can be averagely distributed to 400,000 houses in Victoria.
The deal, along with the PPA, is subject to the satisfaction of multiple conditions.
Goldwind chairman Wu Gang said: “Goldwind is delighted to have been selected by Origin Energy to deliver the Stockyard Hill Wind Farm and to supply renewable energy from the project to Origin until 2030.
“This project will make a material contribution to achieving Australia’s 2020 Renewable Energy Target. This is the largest wind power purchase agreement seen in Australia.”
“Goldwind recognises the strong leadership being shown by Origin Energy in the transition to a lower carbon emissions energy sector, Goldwind is also committed to this transition.” Said Wu Gang.