Italian energy giant gets wind farm approval, seeks buyer for Australian wind and solar assets

Italian energy giant Enel has received regulatory approval for its first wind farm in Australia, but has reportedly also put the for sale sign on its growing wind and solar portfolio in this country.

Enel subsidiary Enel Green Power this week received approval for the 75.6MW Flat Rocks wind farm, near Kojonup in the Great Southern region of Western Australia, its first large scale wind asset in the country.

Flat Rocks wind farm has a 12-year contract for most of its output to mining giant BHP’s Nickel West operations, and got the nod from the Economic Regulation Authority despite objections from two local landowners. A second stage of the wind farm is also being proposed.

The approval came as news emerged that Enel Green Power has hired Credit Suisse to find a buyer for at least a majority share of its Australian assets, which also include majority stakes in the Bungala solar farms in South Australia, which at a combined 220MW were once the biggest solar farm in the country.

Its assets also include the 27MW Cohuna solar farm in Victoria, which has a contract with the Victorian government, and a proposed 88MW Girgarre solar farm in Victoria.

According to the AFR’s Street Talk column, where investment bankers like to hawk their offerings, the Enel Green Power portfolio has a 3.6GW development pipeline across Australia, and first offers are due in August.

The sale pitch adds to the growing list of assets that have been offered for sale in Australia, including Goldwind Australia and CWP Renewables.

FRV also offered a share of its Australian solar portfolio, administrators are seeking a buyer of the Mugga Lane solar farm, and New Energy Solar and Elliott Green Power have announced the sale of their respective Australian solar assets.