South African bank, Investec Ltd., has announced that it is looking for buyers for a wind farm estimated to cost US$813 million, following a restructure of its Australian business.

According to the Wall Street Journal, Investec Australia's Acting Chief Executive Ciaran Whelan said:

"If I could divest it at a reasonable price, I would immediately. Our hope is to exit it at some stage, and our project finance team will look for opportunities to do so."

Investec Australia's Head of Project and Infrastructure Investment, Mark Schneider, was laid off last week when the bank fired around 50 people in Australia.

The Hornsdale project involves the construction of 105 turbines with a total capacity of 315 megawatts, ranking it among the biggest wind farms in Australia. It's expected to operate for 25 years, and is projected to save 1.25 million tons of carbon emissions a year. It's expected to produce electricity equivalent to the needs of around 180,000 homes.

Wind energy has struggled to compete with coal and natural gas in Australia until now, despite legislation introduced in 2009 that set a mandatory target to source 20% of national power needs from renewable sources by 2020.