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Nebras Power completes 49% stake buy in Aussie wind farm

Nebras Power completes 49% stake buy in Aussie wind farm

Tribune News Network
Doha
Nebras Power Investment Management (NPIM) has completed the acquisition of a 49 percent equity stake in Stockyard Hill Wind Farm in Australia.
The transaction was carried out by NPIM, a wholly-owned affiliate of Nebras Power, and Goldwind Stockyard Hill Wind Farm Limited, a wholly-owned Hong Kong affiliate of Xinjiang Goldwind Science and Technology.
Located 35km west of Ballarat in Victoria, Stockyard Hill Wind Farm is set to have 149 wind turbines with a combined capacity of 527 MW.
The windfarm will be the biggest in the southern hemisphere, upon completion in the fourth quarter of 2020.
This first transaction is consistent with Nebras’s strategy to enhance its asset base through fully-contracted projects and further marks the company’s inaugural entry into the Australian power sector.
Under this agreement, Nebras has secured a 49 percent stake; while Goldwind, through its Hong Kong affiliates, will retain a 51 percent equity stake in Stockyard Hill Wind Farm.
The transaction has been fully backed by the senior management and Boards of Directors of Goldwind and Nebras and is deemed to be in the best interest of both the companies and their respective shareholders.
“The acquisition of a large equity stake in Stockyard Hill Wind Farm solidifies Nebras’ foray into the Australian market, which we are pursuing as a major new growth market,” said Nebras Chairman Fahad Hamad al Mohannadi.
“In this respect, we are confident that this will be the first of several lucrative investments in Australia’s power industry by Nebras.”
Nebras CEO Khalid Mohammed Jolo said, “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’ strategic growth objective of becoming a leading international power company.”
Faisal al Siddiqi, Chief Business Development Officer of Nebras, said, “With the Stockyard Hill Wind Farm, we are entering our next chapter. For this reason, we will aim to develop and diversify the Australian asset portfolio with other renewable energy technologies and gas-to-power projects. In the years ahead, we look forward to jointly positioning this wind farm as a flagship project in Nebras’ global energy portfolio.”Large-scale acquisition marks Nebras Power’s entry into Australian power market

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