Nebras Power Completes Acquisition of 49% of Stockyard Hill Equity Stake in the Wind Farm Project in Australia.

14 January 2020

Nebras Power Investment Management (B.V), a wholly-owned affiliate of Nebras Power Q.P.S.C. (“Nebras”) has successfully concluded an agreement with Goldwind Stockyard Wind Farm Ltd. - a wholly-owned Hong Kong company by Xinjiang Goldwind Science and Technology Co., Ltd.,  on the acquisition of 49% of its equity in Stockyard Hill Wind Farm in Australia.

The Stockyard Hill Wind Power Project is located 35 km west of Ballarat in Victoria State, and contains 149 wind turbines with a total capacity of 527 MW. Upon completion at the beginning of the last quarter of 2020, this project will be the largest wind power project of its kind in Southern Hemisphere,

This deal, which is the first for Nebras in Australia, aligns with the company’s strategy to enhance its asset base through projects with long-term contracts for energy production. Moreover, it marks an important first step for the company’s entry into the Australian energy sector. Under this agreement, Nebras will hold a 49% equity stake in the project, while Gold Wind - through its subsidiaries in Hong Kong, will own 51% shares.

This deal is fully supported by Nebras Board of Directors and Gold Wind Board of Directors, as it will serve the interests of both companies and their shareholders.

In his comment on this agreement, HE. Mr. Fahd Bin Hamad Al Muhannadi, Chairman of Nebras Power, said: “the acquisition of such a large equity stake in Stock Yard Wind project in Australia will boost Nebras’s entry into the Australian energy market, which we are following as a new market for expansion and growing. Therefore, we are confident that this investment will be the first of its kind among many other fruitful investments in the energy sector in Australia by Nebras. ”

In his comment, Mr. Khaled Mohamed Jolo, CEO of Nebras, said: “the acquisition of an equity stake in Stockyard Hill Wind Farm project marks a milestone step for Nebras to enter and then expand into the Australian market and into the Asian and Pacific markets. In addition to that, this deal will help support and promote the strategic goal of Nebras for growth and to become a world leading company in power sector.

In his comment on the deal, Mr. Faisal Al Siddiqui - CEO of Business Development in Nebras said: “with Stockyard Hill Wind Farm Project, Nebras is starting a new chapter of investment. Therefore, we will exert our efforts to develop and diversify the Australian asset portfolio using other renewable energy technologies and projects of gas-conversion into energy. In the coming years, we will be looking forward to making this project one of the distinguished projects in Nebras International portfolio. "