Goldwind acquires 530MW Australian site

AUSTRALIA: Chinese manufacturer Goldwind looks to continue its global expansion by acquiring an up-to-530MW project in Australia from Origin Energy for A$110 million ($81.6 million).

The prototype of Goldwind's 3MW-platform turbine in China

As part of the deal, Origin Energy has also agreed to purchase all the power produced from the Stockyard Hill project until 2030 for below A$60/MWh.

Goldwind said the power purchase agreement is the largest wind deal to date in Australia.

"Goldwind is delighted to have been selected by Origin Energy to deliver the Stockyard Hill Wind Farm 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," said Goldwind chairman Wu Gang.

Origin had been developing the project since 2009, and won approval in 2010. However the turmoil surrounding Australia's renewable energy target (RET) had delayed the project and almost put a halt on all wind developments in Australia.

Origin CEO, Frank Calabria, said: "Today's announcement is important as it indicates just how fast the transition is occurring in Australia's energy market. Not only is renewable energy being rolled out rapidly, the costs have fallen at a very fast rate.

The 149-turbine site is located roughly 140km west of Melbourne, Victoria. It will feature Goldwind's new "smart" 3MW-platform wind turbine.

Goldwind unveiled its GW3S permanent magnet direct drive platform in November. It includes models ranging from 3MW to 3.4MW and has rotors up to 140 metres in diameter.

A prototype of the turbine was installed in China in January.