The energy firm announced it bought wind farm assets from Allco Finance Group Ltd. (OTCBB:AOFNF) and will develop the seven projects that Allco had stakes in. The projects are spread across the Australian states of Queensland, South Wales and South Australia, AsiaPulse reported.

In the release, AGL Managing Director Michael Fraser said the deal was in line with the firm's goal of developing diverse energy projects.

Also in July, AGL announced its investment in Torrens Energy Ltd. The effort is part of meeting the federal government's goal of 45,000 gigawatts of renewable energy by 2020.