China's Goldwind buys $81.5m wind project from Origin Energy

It will be paying the amount in cash.

Reuters reported that Xinjiang Goldwind Science & Technology Co Ltd said on Monday it will buy a wind farm project in Australia for A$110 million ($81.5 million) in cash, as the Chinese wind turbine generator maker aims to boost its presence in international markets.

Xinjiang Goldwind said it would buy Stockyard Hill Wind Farm Pty Ltd from a unit of Origin Energy Ltd, and would inject up to A$335 million for further development to strengthen its competitive advantage in Australia.

The Chinese company said it had obtained investment approval from Australia's Foreign Investment Review Board.

View the full report here.