Spanish company Iberdrola appears to have won the bidding war for various energy assets including 112 wind turbines along the Woakwine Range and their associated $38.5m battery storage plant.
The Lake Bonney Wind Farm is owned by Australian company Infigen Energy and has been in the takeover sights of Filipino firm UAC for the past month.
UAC last month told the Australian Stock Exchange of its intentions and its unsolicited bid valued Infigen Energy at $777m which was bettered by Iberdrola’s bid of $835m.
In response, UAC upped its initial offer and valued Infigen Energy at $841m.
Iberdrola responded by increasing its offer to $864m which has been endorsed by the board of Infigen Energy.
Shareholders are expected to respond to the rival bids in the coming weeks.
Infigen Energy has had planning approval since 2012 for the construction of a further 124 turbines on the Woakwine Range, north of Millicent.
There are 83 turbines earmarked for the Wattle Range area within the remainder located in the Kingston and Robe council areas.
Any take over would require the approval of the Foreign Investment Review Board.
At present, Infigen Energy owns about 670MW of installed onshore wind capacity along with 268MW of conventional generation and energy storage firming assets, plus 246MW of additional renewable power purchase agreements with third parties.
