Origin Energy’s sale process for its large Stockyard Hill wind farm in Victoria has taken on a distinctly Chinese flavour, with two Chinese players among the five names understood to have reached the short list.
Hydropower producer China Three Gorges is thought to have made the cut, alongside Hong Kong-listed turbine manufacturer Goldwind. China Three Gorges has a stake in Goldwind, raising speculation the two are bidding jointly.
GE, India-owned REpower and local player Leighton complete the shortlist, but it is not clear whether they are each acting alone or in some combination. Origin originally sought proposals for a range of potential deals for the $1 billion project, including a sale, joint venture or turbine supply contract.
But it is thought to be heading for an outright sale, linked to a power purchase agreement that would see it sign up to buy the offtake.
That would help slim down Origin’s commitments in line with its strategy of concentrating on developing its $23 billion Australia Pacific LNG project.
Short-listed parties are expected to draw up firm bids for the project, which has all necessary development approvals, within the next few months.