Martifer sells share in 1GW Australian project

AUSTRALIA: Portuguese group Martifer Renewable Electricity, along with its business partners Epuron and Macquarie Capital Group, is selling one of the largest wind projects in Australia.

by Branislav Pekic 2 March 2011

What the Silverton Wind Farm migth look like

The Silverton Wind Farm in New South Wales is made up of 282 turbines and represents an investment of over €800 million.

The second phase of this mega project would involve the installation of over 316 turbines, bringing their number to 598 and providing about 4.5% of the energy needs in the region.

The 1GW+ wind project is 50% owned by Epuron, while the remainder is split between Martifer and the Macquarie Capital Group. Martifer estimates that its financial committment should reach nearly €200 million.

Martifer’s 2011-2012 strategic plan foresees the sale of €120 million in non-strategic assets such as wind power in which Martifer has so far invested some €170 million.

This week, California-based developer Spinnaker Energy has acquired from Martifer.

Spinnaker has paid an undisclosed sum for the assets, which include 600MW of wind farms in south Texas and a 106.8MW hybrid solar thermal and biomass energy project in California.