Martifer sells share in 1GW Australian project

AUSTRALIA: Portuguese group Martifer Renewable Electricity, along with its business partners Epuron and Macquarie Capital Group, is selling one of the largest wind projects in Australia.

What the Silverton Wind Farm migth look like
What the Silverton Wind Farm migth look like

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The Silverton Wind Farm in New South Wales is made up of 282 turbines and represents an investment of over €800 million.

The second phase of this mega project would involve the installation of over 316 turbines, bringing their number to 598 and providing about 4.5% of the energy needs in the region.

The 1GW+ wind project is 50% owned by Epuron, while the remainder is split between Martifer and the Macquarie Capital Group. Martifer estimates that its financial committment should reach nearly €200 million.

Martifer’s 2011-2012 strategic plan foresees the sale of €120 million in non-strategic assets such as wind power in which Martifer has so far invested some €170 million.

This week, California-based developer Spinnaker Energy has acquired 707MW of wind and solar developments from Martifer.

Spinnaker has paid an undisclosed sum for the assets, which include 600MW of wind farms in south Texas and a 106.8MW hybrid solar thermal and biomass energy project in California.

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