China buys into more Australian wind

Shenhua has already invested in the Woolnorth wind farm

Chinese power company Shenhua Clean Energy has paid A$89m ($92.6m) for a majority stake in the Musselroe wind farm in Tasmania.

Plans for the deal between Shenhua and developer HydroTasmania were announced in September last year, but financial terms were not disclosed.

Shenhua, a unit of Beijing-based Guohua Energy Investment, which is in turn part of the world’s largest coal company, state-owned Shenhua Group, has already invested in HydroTasmania’s Woolnorth wind farms.

The new agreement sees the Chinese company take a 75% stake in the 168MW Musselroe project.

The transaction also involves a project financing facility of A$280m, led by National Australia Bank (NAB). An A$140m 18-year tranche was provided by Denmark’s export credit agency Eksport Kredit Fonden.

The…

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