Origin Energy Limited (ORG) announced the acquisition of Wind Power Pty Limited on Wednesday. The company said the acquisition would increase its wind development portfolio by 1460MW to more than 2000MW.

Managing director Grant King said the acquisition would strengthen the company’s development expertise in wind and that it complemented its capabilities in power project construction.

“With the expectation of higher renewable energy targets, Origin commenced its own physical build and has an extensive portfolio of wind options with high capacity factors in good locations in NSW and Victoria,” Mr King said.

Origin said Wind Power’s resource sites included their 484MW Stockyard Hill Wind Farm near Ballarat, which is one of the most competitive projects of its kind in Australia, with a high quality wind resource and an estimated capacity of 40%.

With the largest number of green customers in the country, the company said the acquisition helped to support its customer demand for GreenPower.

At 1017 AEST, Origin Energy shares were up 32c to $16.62.