Chinese wind turbine manufacturer Xinjiang Goldwind has agreed to acquire the 530MW Stockyard Hill windfarm project in Victoria, Australia.
Goldwind will purchase the facility for a sum of A$110m ($81.3m) from Origin Energy, which has also agreed to buy all power and renewable energy certificates (REC) generated by the project until 2030.
Goldwind's chairman Wu Gang said: “Goldwind is delighted to have been selected by Origin Energy to deliver the Stockyard Hill windfarm 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 PPA seen in Australia.”
Acquisition of the farm demonstrates the strength and capabilities of Goldwind’s new 3s Smart Wind Turbine technology to transform projects in Australia and reduce the cost of renewable energy in the country.
Goldwind Australia will work in collaboration with host landowners and the local communities of the Stockyard Hill facility, as its 149 wind turbines are prepared for construction. The company will also arrange project funding under an engineering, procurement, and construction (EPC) contract.
Under an operations and maintenance agreement, Goldwind will continue to perform its role over the project's 25-year life and will provide support to the performance of its 3s Smart Wind Turbine.
Australia’s Stockyard Hill windfarm will be able to generate sufficient energy to supply electricity to 400,000 average Victorian households.