China Longyuan abandons Boco Rock wind farm project

Won’t compete for a stake in massive Australian wind farm.

Sources said China's largest wind-power producer won't submit a final offer in an auction for a stake in Boco Rock wind farm in New South Wales despite being on the shortlist.

Thailand's Electricity Generating PCL (Egco), however, remains a potential buyer of a stake in Boco Rock. Egco will likely submit a final bid by the April 24 deadline.

It could acquire between 50% and 100% of Boco Rock depending on whether GE Energy Financial Services exercises its option over half of the wind farm's equity.

Egco said last month that it plans to make investments worth US$518 million in the coming year. Among its targets are joint ventures in renewable energy projects, such as wind and solar power plant projects.

The Boco Rock wind farm will have up to 107 megawatts of installed generating capacity. Its first stage of development includes installing 66 wind turbines. Australian government approval has been received to double the wind farm's size to up to 122 turbines.