Qatar Nebras Energy Investment Investment Company (PV) has completed the acquisition of 49% of Stockyard Hill Company in a wind energy project in Australia. The project contains 149 wind turbines with a total capacity of 527 MW.
This project will become the largest wind energy project in the southern hemisphere when it is completed in the last quarter of this year.
This deal - which is the first for Nebras in Australia - is in line with the company strategy - to enhance its asset base through projects with long-term purchase contracts for energy production.
"This acquisition will enhance Nebras' entry into the Australian energy market, which we are pursuing as our new market for expansion and growth," said Nebras Energy Chairman Fahd bin Hamad Al Muhannadi.
"We are confident that this investment will be the first of many fruitful investments in the energy sector in Australia by Nebras," he added.
For his part, the CEO of the company, Khaled Mohamed Jolo, said that the new acquisition is a milestone for Nebras to enter, and then expand into the Australian market and the Asia Pacific market.
He added that this deal will support and reinforce the strategic goal of Nebras Growth Company, and to become a world leader in the energy field.
It is noteworthy that Nebras Energy for Investment Management is owned by Nebras Company, which is a joint-stock company between the Qatar Electricity and Water Company by 60%, and the Qatar Investment Authority - the sovereign wealth fund for Qatar - at 40%.