Nebras Power Investment Management (NPIM), a wholly owned affiliate of Nebras Power, has forayed into Australia’s power sector, acquiring a 49% equity stake in Stockyard Hill Wind Farm.
The Netherlands-based NPIM completed the deal with Goldwind Stockyard Hill Wind Farm, a wholly owned Hong Kong affiliate of Xinjiang Goldwind Science and Technology Company.
Located 35km west of Ballarat in Victoria, Stockyard Hill Wind Farm will have 149 wind turbines with a combined capacity of 527 MW. The farm will be the biggest in the southern hemisphere, upon completion in early fourth quarter of 2020.
This first transaction is consistent with Nebras’ strategy to enhance its asset base through fully contracted projects and further marks the company’s inaugural entry into the Australian power sector.
Under this agreement, Nebras has secured a 49% stake; while Goldwind, through its Hong Kong affiliates, will retain a 51% equity stake in Stockyard Hill Wind Farm.
“The acquisition of a large equity stake in Stockyard Hill Wind Farm solidifies Nebras’ 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,” its chief executive Khalid Mohamed Jolo.
Faisal al-Siddiqi, chief business development officer of Nebras, said with the Stockyard Hill Wind Farm, it is entering the next chapter.
“For this reason, we will aim to develop and diversify the Australian asset portfolio with other renewable energy technologies and gas-to-power projects,” he said.
In the years ahead, he said, Nebras looks forward to jointly positioning this wind farm as a flagship project in its global energy portfolio.
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