New Zealand's Meridian Energy said it has acquired the Mt Millar wind farm in South Australia from Transfield Services Infrastructure Fund (TSI Fund) for A$191m ($172m).
Meridian chief executive Tim Lusk said the 70MW Mt Millar and the power purchase agreement to the end of 2012 will be a key part of its wind portfolio.
"Mt Millar is fully operational and will become an important part of our wind portfolio, particularly when the power purchase agreements expire and we can take advantage of stronger market prices," Mr Lusk said.
The wind farm will feature 35 Enercon E-70 2MW turbines to produce enough energy to power about 36,000 Australian households a year, the company said in a statement.
Meridian said it plans to grow its investments in Australian renewable energy assets and add to its business through strategic acquisitions and greenfield opportunities.