Xinjiang Goldwind Expands Reach with USD83 Million Purchase of Australian Wind Farm
Yicai Global
/SOURCE : Yicai
Xinjiang Goldwind Expands Reach with USD83 Million Purchase of Australian Wind Farm

(Yicai Global) June 23 -- Leading Chinese wind power equipment maker Xinjiang Goldwind Science and Technology Co. [SHE:002202] plans to spend AUD110 million (USD83 million) on an Australian wind farm and raise up to AUD335 million for further investment in the project.

The company has reached an agreement with Wind Power Pty Ltd., a wholly-owned subsidiary of Australia-based Origin Energy Ltd. [ASX:ORG], to purchase its Stockyard Hill wind farm, sited 140 kilometers west of Melbourne, the firm said in a statement.

The farm, which is in its final development stages, is expected to begin commercial operations by the end of 2019, and will produce 2,000 gigawatt-hours of electricity per year.

Xinjiang Goldwind is one of China's leading large wind turbine producers, and operates a number of wind farms both at home and overseas.

Follow Yicai Global on
Keywords: MSCI , M&A , Wind Farm , BELT AND ROAD , Australia , Green Energy