EnergyAustralia, the Australian unit of Hong Kong-listed power generator CLP Holdings Ltd. (0002.HK), has agreed to sell its majority stake in a wind farm to Canada’s Northleaf Capital Partners and Australia’s Palisade Investment Partners, a person familiar with the matter said Tuesday.
EnergyAustralia will receive proceeds, net of costs, of 228 million Australian dollars (US$228 million), for its 75% stake, the person said, adding that the deal is expected to close by the end of June.
The Waterloo wind farm has a generating capacity of 111 megawatts. It is located 30 kilometers from the town of Clare in South Australia state and has 37 turbines supplying energy to 9,000 homes.
ANZ Banking Group Ltd. advised EnergyAustralia while Macquarie Group Ltd. advised the winning consortium.