The order for the Australian Sapphire 270 MW project secured by Vestas in mid-December is quite remarkable. Not simply because it represented 2016's third-largest order and the largest Australian order since 2010's MacArthur wind farm. But also because the project's financing model is highly unusual.
Of the farm's 270 MW, power purchase agreements, PPA's, have only been secured for 100 MW. The remaining two-thirds of electricity will be sold on pure market conditions, which is yet more unusual in the Australian market.