Goldwind agrees to sell 165 MW wind farm in Australia

Chinese wind firm Goldwind Science & Technology will sell the 165.5 MW Gullen Range wind project in Australia to the joint venture New GRWF.

Jingneng Hong Kong and Goldwind Australia respectively own 75% and approximately 25% of the equity interests in New GRWF.

Under the sale agreement New GRWF has agreed to purchase the wind project at a total consideration of approximately AU$319.5 million. The agreed consideration will be provided in three installments with a portion of AU$297.4 million to be paid on completion.

The wind farm is sited in the south-eastern state of New South Wales. The project started construction in August 2012. First power was achieved in December 2013. The facility is expected to link to the grid in 2014.

The wind Farm project will install 17 sets of GW82/1500 WTGs and 56 sets of Goldwind turbines GW100/2500 WTGs in total.

Xinjiang Goldwind is a manufacturer of WTGs and providing comprehensive wind power solutions. Xinjiang Goldwind is also engaged in the provision of comprehensive wind farm services and the development of wind farms for sale to wind farm operators and investors.