Goldwind invests in the largest wind project in Australia
12 Jul 2017
Leading Chinese wind turbine manufacturer, Xinjiang Goldwind (Goldwind), is investing A$110 million to acquire Australia’s largest wind development projects, Victoria’s Stockyard Hill Wind Farm, from Origin Energy (Origin).
Subject to regulatory approvals, part of the investment includes a long-term Purchase Power Agreement (PPA) with Origin which covers the commencement of operations in 2019 until 2030.
Goldwind plans to work with local landowners and the community to prepare the Stockyard Hill Wind Farm for construction. At completion, it will have a total capacity of 530MW, feature 149 wind turbines, and could power around 400,000 average Victorian homes.
Wu Gang, Chairman of Goldwind, says the company is delighted to have been selected by Origin to deliver the Stockyard Hill Wind Farm project to supply renewable energy to Origin until 2030. ‘This will make a material contribution to achieving Australia’s 2020 Renewable Energy Target. This is the largest wind power purchase agreement seen in Australia.’
Frank Calabria, Origin CEO, said that through the deal with Goldwind, Origin has been able to add a substantial amount of new renewable energy to the company’s portfolio. ‘By 2020, we expect that renewables will be more than 25 per cent of the energy in our generation mix, allowing us to deliver the cleaner energy our customers want.’
Stockyard Hill Wind Farm is located some 35 kilometres from Ballarat, in Victoria, and will have a grid connection to the existing Moorabool to Portland 500 KV transmission line.