The funds will be used to reduce corporate debt and finance new acquisitions, BBI said.

BBW's capital raising offer had met with significant success, with a number of new institutional investors deciding to opt in to the renewable energy market and the offer closing just $A1.6 million short of its $A120 million target, BBI said.

Given the investment interest in the wind farm developer, BBI decided the run on BBW stock provided an opportunity too good to miss.

"Whilst we had not decided to sell our stake, it became clear that significant international demand in the global bookbuild to raise approximately $118 million held by BBW during the week created an opportunity for BBI to realise profits and unlock value for BBI security holders," BBI chief executive Steven Boulton said today.

The sale of the BBW stock has realised a 4% premium over the closing price of BBW before the bookbuild and additional issuance were announced, and BBI remains a significant shareholder in the international wind developer.

"The investment in BBW has been and remains a very good one for BBI," Boulton said.

"Whilst we have been happy to realise the gains made on part of that investment, there are no current directions from the board to sell the remaining stake."

BBW's current portfolio includes interests or purchase agreements in 23 wind farms on three continents, with an installed capacity of around 1150MW.