AusNet Services : to develop $140M Terminal Station and Transmission Line for Goldwind’s Stockyard Hill Wind Farm

16 May 2018

TO:ASX Limited Singapore Exchange Securities Trading Limited

AusNet Services to develop $140M Terminal Station and Transmission Line for Goldwind's Stockyard Hill Wind Farm

AusNet Services has today been contracted by Goldwind and AEMO to build, own and operate the transmission connection assets for the Stockyard Hill Wind Farm (SHWF). A new 132kV transmission line will run approximately 70 kilometres south of the SHWF to a new Terminal Station in Haunted Gully, 6 kilometres south of Lismore, Victoria.

Located approximately 35 kilometres west of Ballarat, SHWF will have a total expected capacity of around 530MW from 149 turbines. Powerline construction works are scheduled to begin in July 2018 and are expected to be completed towards the end of calendar year 2019.

AusNet Services expects to invest around $140m with revenues to commence upon completion of construction. Under the terms of the agreements, AusNet Services will receive long-term fixed entitlements, adjusted annually for movements in CPI for providing connection and network services.

The agreements are subject to customary conditions, including credit support arrangements that are expected to be satisfied by June 2018.

AusNet Services Managing Director Nino Ficca said that "AusNet Services is proud to partner with Goldwind on this project; the transmission development represents a further step in our strategy to prudently grow our contracted asset base".

This project takes AusNet Services' total unregulated infrastructure assets and committed projects to an investment value of approximately $850m. Projects contracted since July 2017 include wind farm connections, micro grid partnerships and grid scale energy storage systems, with an aggregated investment value of approximately $310m.

About Goldwind Australia

Goldwind Australia is a wholly owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd, a world leading wind turbine technology and energy solutions provider. With more than 44 GW of capacity worldwide, Goldwind's revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers its innovative comprehensive solutions for renewable energy development, including equipment manufacturing and sales, service, and investment.

About AusNet Services

AusNet Services is the largest diversified energy network business in Victoria, owning and operating three regulated networks - electricity distribution, gas distribution and the state-wide electricity transmission network. The company also has a Commercial Energy Services division, focusing on unregulated opportunities, including contracted infrastructure, asset intelligence and energy services.

Headquartered in Melbourne, Australia, AusNet Services employs around 1,900 people to service 1.4 million consumers. For more information visit AusNet Services' website,www.ausnetservices.com.au.

Claire Hamilton

Company Secretary