Qatari power company Nebras Power Investment Management has acquired a 49% stake in Goldwind’s 527MW Stockyard Hill wind project in Australia.
Located 35km west of Ballarat in Victoria, Stockyard Hill wind farm will be one of the biggest in the southern hemisphere when it completes later this year.
Goldwind, through its Hong Kong affiliates, will retain a 51% equity stake in the wind farm.
The transaction has been fully backed by Goldwind’s as well as Nebras’s senior management and board of directors.
Commenting on the agreement, Nebras chairman Fahad Hamad Al-Mohannadi said: “The acquisition of a large equity stake in Stockyard Hill Wind Farm solidifies Nebras’s foray into the Australian market, which we are pursuing as a major new growth market.
“In this respect, we are confident that this will be the first of several lucrative investments in Australia’s power industry by Nebras.”
Nebras chief exeutive Khalid Mohammed Jolo added: “The acquisition of Stockyard Hill Wind Farm serves as a landmark deal for Nebras to establish and further expand our presence in Australia and the Asia-Pacific marketplace.
“Additionally, this deal aligns and bolsters Nebras’s strategic growth objective of becoming a leading international power company.”