(Yicai Global) Nov. 22 -- Shares in Xinjiang Goldwind Science and Technology, one of China's biggest wind turbine makers, have climbed this morning after the firm announced last night that it would sell a 49 percent stake of a wholly owned wind farm in Australia to ease cash flow woes.

Its share price [SHE:002202] was up nearly 1.6 percent at CNY12.26 (USD1.74) as of 10.17 a.m., while its Hong Kong-listed shares [HKG:2208] were sat almost unchanged at HKD8.98 (USD1.15).

Goldwind's wholly owned Hong Kong subsidiary agreed to sell the stake in Stockyard Hill Wind Farm to Nebras Power Australia, which is co-owned by Qatar Electricity and Water and Qatar Holdings, for almost AUD160 million (USD107 million), the parent said in a statement last night.

The unit picked up 100 percent of the wind farm in Victoria for AUD110 million in 2017 and has injected some AUD277 million into the project since, but at the end of June the cash had already been spent.

Construction began on the wind farm, which has a designed annual capacity of 530 megawatts, in June 2018 but is still incomplete. Goldwind had planned to invest as much as AUD335 million.