Chinese wind turbine generator1 maker2 Xinjiang Goldwind Science & Technology Co Ltd announced its plan on Monday to purchase a wind farm project in Australia for A$110 million ($81.5 million), vying3 for a greater presence in the international market.
中国风力发电机生产商新疆金风科技股份有限公司周一宣布，计划花费1.1亿澳元（8150万美元）在澳大利亚购买一处风力农场，以求在国际市场上有更大的竞争力。
The project's 149 wind turbines will be Australia's largest single wind farm.
Goldwind said it will buy Stockyard Hill Wind Farm Pty Ltd from a unit of Origin Energy Ltd, and will invest up to A$335 million for further development to strengthen its competitive advantage in the country.
It had already obtained investment approval from Australia's Foreign Investment Review Board, said the Chinese company.
Analysts5 said the purchase is in line with the recent trend of Chinese companies in the electric power
sector6, seeking to
diversify7 their
earnings8 by investing abroad, and Australia's energy sector will continue to attract China utilities.
"This trend is unlikely to
abate9 in the next few quarters given the high level of interest in the part of Chinese companies," said Joseph Jacobelli, a senior
analyst4 with Asia utilities and
infrastructure10 research at Bloomberg Intelligence.
"Chinese electric power utilities still find Australia an attractive investment target and will continue to seek assets there in the next few years."
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