Doha, Qatar-based Nebras said today that it acquired a 49% stake in the Stockyard Hill Wind Farm from Hong Kong-based Goldwind. The Stockyard Hill Wind Farm is located in Victoria, Australia, about 35km west of Ballarat.
The wind farm, which is set to be completed by the end of the year will have 149 turbines and a total capacity of 527 MW, making it the largest wind farm in the southern hemisphere, according to Nebras.
The investment marks Nebras’ first entry in the Australian market. Goldwind, through its Hong Kong affiliates, will retain a 51% equity stake in Stockyard Hill Wind Farm.
Commenting on the agreement, Mr. Fahad Hamad Al-Mohannadi, Chairman of the Board of Nebras (pictured, far left) said: “The acquisition of a large equity stake in Stockyard Hill Wind Farm solidifies Nebras’s foray into the Australian market, which we are pursuing as a major new growth market. In this respect, we are confident that this will be the first of several lucrative investments in Australia’s power industry by Nebras.”
Mr. Khalid Mohammed Jolo, Chief Executive Officer of Nebras stated: “The acquisition of Stockyard Hill Wind Farm serves as a landmark deal for Nebras to establish and further expand our presence in Australia and the Asia-Pacific marketplace. Additionally, this deal aligns and bolsters Nebras’s strategic growth objective of becoming a leading international power company.”