Origin Energy expands RE portfolio with Yanco Delta Wind Farm acquisition

It will pay $80.3m for the transaction with an additional variable amount of $112.4m

Origin Energy signed an agreement with Vinya Energy to acquire the 1.5-gigawatt (GW) Yanco Delta Wind Farm in New South Wales.

In a statement, Origin Energy said this move will accelerate its goal to expand its renewable energy and storage portfolio, noting that the acquisition of Yanco Delta included an 800-megawatt-hour battery.

“Yanco Delta is a large-scale, advanced and therefore highly strategic wind development project,” said Origin CEO Frank Calabria. 

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“With the key planning and regulatory approvals secured, and with significant plans for supporting infrastructure and transmission in place, the acquisition of Yanco Delta represents a major step forward in our journey to transition Origin’s portfolio to cleaner energy,” he added.

Origin Energy has to pay around $80.3m (A$125m) to Virya Energy and an additional variable payment of up to about $112.4m (A$175m) conditional to the milestones achieved for the project which occupies 33,000 hectares within the South West Renewable Energy Zone.

$1 = A$1.56