What does it take to future proof an energy market while easing household cost pressures at the same time Large scale renewable acquisitions are increasingly providing that answer. SEC’s latest move in Australia reflects a growing confidence in merchant wind assets and signals a major step forward for Victoria’s clean energy transition.

On December 23, 2025, SEC announced the acquisition of the Delburn wind farm in Australia from Cubico Sustainable Investments and OSMI Australia. Valued at approximately $431.66 million, or A$650 million, the transaction stands out as one of the more significant wind energy deals in the region. Importantly, project developer OSMI Australia will continue to play a central role in construction and delivery, ensuring continuity and technical expertise. This structure reduces execution risk while allowing SEC to expand its renewable portfolio with a high quality asset that aligns with long term decarbonization goals.

The Delburn onshore wind farm will deliver 205 MW of capacity from the Strzelecki Ranges, located south of the Latrobe Valley in Gippsland, Victoria. This region has emerged as a key renewable energy zone due to strong wind resources and proximity to existing transmission infrastructure. Construction is scheduled to begin in early 2026, with commercial operations expected by 2028. Once operational, the project will meaningfully contribute to replacing retiring coal fired generation while supporting grid reliability. Its scale positions Delburn as a cornerstone asset in Victoria’s evolving energy mix and a reference point for future wind developments.

Unlike projects backed by long term power purchase agreements, Delburn’s output will be sold directly into the merchant market. This approach introduces flexibility and supports competitive wholesale pricing. By increasing supply during high demand periods, merchant wind projects can help dampen price spikes, easing cost of living pressures for Victorian households and businesses. A comparable example can be seen in other merchant renewable projects across Australia, where increased renewable penetration has led to lower average wholesale prices. For policymakers and investors, Delburn demonstrates how market based renewable assets can deliver both economic and environmental value.

In conclusion, SEC’s acquisition of the Delburn wind farm highlights the growing maturity of Australia’s renewable energy market and the strategic importance of merchant wind assets.

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