Australia

Australia

Qatari investment firm enters wind sector

Chinese OEM Goldwind has sold a 49% stake in a 527MW Australian wind project to Qatari power investment company and sector newcomer, Nebras Power.

Stockyard Hill is due to include turbines from Goldwind's 3MW platform (above)
Stockyard Hill is due to include turbines from Goldwind's 3MW platform (above)

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The 149-turbine 530MW Stockyard Hill Stockyard Hill (530MW) OnshoreVictoria, Australia, Asia-Pacific Click to see full details site in Victoria is due online by the end of 2020, and will be the largest wind farm in the southern hemisphere when completed, said Nebras

Nebras made the acquisition through its wholly-owned affiliate Nebras Power Investment Management.

Goldwind, which is supplying its GW140/3S turbines to the site, will retain its majority 51% equity stake in Stockyard Hill.

The turbine manufacturer and Nebras Power have also signed a memorandum of understanding for a "three-year cooperation" in renewable energy, the companies announced.

They will work together on developing wind and solar PV, project operation and maintenance, and developing energy storage for “different types of renewable energy projects”.

Nebras Power is already active in solar PV with a 75% stake in Dutch developer Zon Exploitatie Nederland, a 35% stake in Jordanian solar PV developer Shams Ma’an Power, and a 24% stake in a 40MW solar PV array in Jordan. 

It also holds a 5.5% stake in Indonesian coal power producer Paiton Energy and a 9.8% stake in Omani gas power producer Phoenix Power.

Nebras’ chairman Fahad Hamad Al-Mohanadi said that buying into Stockyard Hill — the company’s first foray into wind power — would likely be the “first of several investments in Australia’s power industry”.

Energy retailer and former project owner Origin Energy will buy all of Stockyard Hill’s output. It sold the wind farm to Goldwind in 2017.

Despite gaining approval in 2010, the project had been delayed due to uncertainty regarding Australia’s renewable energy target.

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