California-based investment firm Palisade Investment Partners and Aware Super will acquire a 49% stake in Goldwind’s Stockyard Hill Wind Farm in Victoria, according to Mercom.
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The largest wind farm in Australia’s National Electricity Market, the 528MW Stockyard Hill Wind Farm project produces sufficient clean energy to power around 425,000 households in the region annually.
The construction of the Stockyard Hill wind project was completed in September and uses 149 turbines made by Goldwind.
Goldwind will be responsible for the project’s operation and maintenance under a long-term agreement.
Palisade confirmed all the electricity and large-scale generation certificates were sold under a long-term offtake agreement with Origin Energy.
Palisade executive director James Hann said, “This acquisition represents a continuation of our strategy to invest across the spectrum of renewable energy assets including high quality greenfield and brownfield projects. Stockyard Hill provides our investors with exposure to long-term contracted cashflows and represents further diversification across our growing portfolio of renewable energy investments.”
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Aware Super senior portfolio manager Mark Hector said, “We believe Stockyard Hill Wind Farm will provide a valuable, new source of strong risk-adjusted returns for our members’ $1 billion renewable energy portfolio. It also reaffirms our investment strategy to actively pursue those assets we believe will benefit from the transition to a lower carbon future.”
