Chinese manufacturer Goldwind has acquired an up-to-530MW wind farm project from Origin Energy, in what the company says is the largest wind farm power purchase agreement in Australia.
Goldwind paid AU$110 million for the Stockyard Hill Wind Farm project, located in Victoria. Origin Energy also agreed to purchase all the energy and renewable energy certificates produced by the project until 2030 under a power purchase agreement (PPA).
Goldwind use its 3s Smart Wind Turbine technology in the project, which it believes will transform Australian wind farm projects and drive down the cost of renewable energy in Australia.
“[This] announcement is important as it indicates just how fast the transition is occurring in Australia’s energy market,” said Origin CEO, Frank Calabria.
“Not only is renewable energy being rolled out rapidly, the costs have fallen at a very fast rate.
“While we broadly see downward pressure on wholesale power pricing, we think Origin should generate good margins on the Stockyard deal.”
According to Goldwind, the 149-turbine Stockyard Hill Wind Farm will produce sufficient energy to supply 400,000 average Victorian houses.