Origin Energy expands RE portfolio with Yanco Delta Wind Farm acquisition

It will pay $80.

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.

ALSO READ:Origin Energy buys RE developer Walcha Energy

“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

Origin Energy

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