The divesture by the Australian unit of Hong Kong-listed power generator CLP Holdings, is expected to be made to secure funds from the Palisade Investment Partners.
Employing 37 wind turbines, the farm caters to the electricity requirements of 49,000 homes in the region.
The company had unveiled a plan to add six new turbines to the plant, which would then enhance its capacity to 129MW, reported The Wall Street Journal.
Earlier reports indicated that the company had employed the ANZ banking group to execute the divesture of the $311m wind facility.
Palisade Investments currently handles several other renewable investments, including the 94.5MW Hallet 1 wind farm in South Australia and the 82MW peaking plant in Merredin.
