Meridian Energy is to build a windfarm in Victoria, Australia at a cost of $A260 million.
Construction of the 64-turbine Mt Mercer site south of Ballarat will begin in December and take about two years.
Chief financial officer Paul Chambers says the wind farm will make a profit as soon as it starts generating.
He says the company is using its skills to build in a market that needs renewable energy.
Meridian is also working with AGL Energy to build the 420-megawatt Macarthur windfarm in western VIctoria.