Impala’s TagEnergy Plans to Sell Stake in Australian Wind Farm
(Bloomberg) -- Renewable energy producer TagEnergy is selling a minority stake in the Golden Plains wind farm, one of the largest such projects in Australia.
The company, part of the Impala SAS group, has hired investment bank Acton Advisory to identify a buyer for a portion of its share in the wind farm in the state of Victoria, according to a statement obtained by Bloomberg News. The project’s expected capacity is 1.3 gigawatts, which could supply about 8% of electricity demand for Australia’s second-most populous state, the statement said.
TagEnergy is the majority equity investor in Golden Plains and will continue to own and operate the project alongside original developer WestWind Energy. The construction, which will consist of as many as 228 turbines, could cost as much as A$1.7 billion ($1.3 billion).
Introducing a new investor in the Golden Plains project would mark another clean energy deal in the region this year, following Tilt Renewables Ltd.’s March agreement to sell its Australian and New Zealand business at a $2.1 billion valuation.
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