China's State Power Investment Corporation has snapped up another wind farm in Australia, as new entrant Thailand's Wind Energy Holding has made its entry into the country buying 50 per cent of wind project developer CWP Renewables.
The latest two deals confirm the surge of overseas interest in Australia's renewable energy sector after the renewed government commitment made to the 2020 Renewable Energy Target legislation under Prime Minister Malcolm Turnbull. 
Industry sources have been pointing to increased M&A interest across the renewable energy sector, helped by a surge in the prices of renewable energy certificates in recent months because of increased confidence in the RET regulations.
China's SPIC has acquired the Taralga wind farm in NSW from Spain's Banco Santander, hot on the heels of its deal to buy Pacific Hydro from IFM Investors in a transaction said to be worth more than $3 billion, including debt.
The sale price for the 106.8 megawatt Taralga venture in the Southern Tablelands region wasn't disclosed but Santander was understood to be seeking $250 million to $300 million for the asset when it kicked off the sale process last   August.
Reuters quoted an enterprise value for the deal of about $300 million, citing industry sources.
Santander, whose corporate advisory arm worked for SPIC on the Pacific Hydro purchase, decided to quit its small Australian wind business early last year after the renewable energy sector was left in limbo by political debate over the 2020 renewable energy target which had continued for some years.
The Taralga venture is underpinned by a 10-year power sale contract with major power retailer EnergyAustralia.
The deal by Wind Energy Holdings, controlled by Thailand's KPN Group, is understood to be the fast-growing renewables company's first overseas investment. It includes an 800-megawatt pipeline of wind development projects in Australia.
Newcastle-based CWP, a joint venture between Continental Wind Partners and Wind Prospect Group, has in total some 1400 megawatts of projects under development and manages 220 megawatts of wind farms, including the Taralga project.
A number of other wind assets in Australia are up for sale or open to corporate activity, including Origin Energy's renewable energy interests. Listed wind player Infigen Energy has also signalled it has received interest both for corporate deals and potential asset sales or joint ventures, while AGL Energy is seeking partner for a $3 billion renewable energy fund.
The interest comes despite doubts voiced by some that the amount of capacity to meet the RET can be built in time, leading to speculation the RET scheme may need to be renegotiated.
Still fresh overseas interest in the sector is evident and is not limited to wind, with Genex Power executive director SImon Kidston noting increased interest among UK and European infrastructure investors in its Kidston hydropower and solar project in northern Queensland.
"Now that the legislative outlook here has been stabilised, they are now actively looking in the Australian market and we are in discussions with a number of them," Mr Kidston said of talks for potential partners for the company's $300 million project.
"I don't think we would have had a hearing nine months ago whereas now people see that the outcome has got bipartisan support and the RET is now locked in, and I think people are prepared to invest on that basis.
"Certainly all of the feedback we have had now has changed remarkably since that situation was clarified."
The sale of Taralga followed a competitive trade sale process, according to Herbert Smith Freehills, which advised Santander's wholly owned subsidiary Inversiones Capital Global on its acquisition. Herbert Smiths also acted for IFM on the Pacific Hydro sale.
ICG was also advised by ANZ Corporate Advisory and IGWT Advisory, while SPIC was advised by Melbourne-based The SILC Group, ING and King & Wood Mallesons.