Hydro Tasmania has sold a 75 per cent share in its two Woolnorth wind farms for more than $88 million to a Chinese company.
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Guohua Energy Investment Co Ltd will take a 75 per cent share in the North-West wind farms, with Hydro Tasmania retaining the remaining 25 per cent.
Guohua has more than $3.5 billion worth of wind assets and $2.6 billion in other assets under management, with more than 20 wind farms across China in its portfolio.
The company will pay $88.6 million for its share in the two wind farms.
Hydro Tasmania says that $30 million in tax will be returned to the state government from the sale.
Hydro Tasmania chairman David Crean described the sale as an outstanding result for Tasmania.
"It will remove $208 million of debt from Hydro Tasmania's balance sheet, reducing the total debt figure to just over $835 million," he said.
"This will greatly facilitate the financing of the Musselroe wind farm project, which began construction this month," Dr Cream said.
