John Laing Group has acquired a 72.3% stake in the 30MW Kiata wind farm in the Australian state of Victoria from Windlab for A$32.6m.
Project developer Windlab retains a 25% interest in the wind farm, with the remaining 2.7% granted to local landowners.
Construction of the project, which is expected to be complete during the fourth quarter of 2017, will also be financed by debt arranged by National Australia Bank.
Vestas Wind Systems is the EPC contractor, maintenance provider and supplier of nine V126 turbines with hub heights of 117 metres.
Kiata has a 10-year offtake agreement for the green certificates it will generate with the government of Victoria.
The deal is John Laing’s third wind farm investment in Australia.
Image: a Vestas V126 (Vestas)
