Renewable energy company CBD Energy Ltd's (ASX: CBD) first joint venture project with its new Chinese partners will finalise its very first 100 megawatt wind farm in Australia this week.

The wind farm project, to be undertaken by its new venture AusChina Energy Group, will be located at Taralga in New South Wales, company officers confirmed in today's press briefing.

The Taralga project is just one of the projects lined up and earmarked $6 billion for wind and solar energy projects in Australia between 3 to 8 years.

Sydney-based CBD Energy has finalised a joint venture with China's second largest renewable energy producer the China Datang Renewable Power Co and solar equipment maker Baodin Tianwei Baobian Electric Co n signing ceremonies this morning.

The new venture aims to develop $3 billion worth of wind and solar power plants in Australia within three years and $6 billion over eight years.

Under the deal, the Chinese firms would provide equipment and funding for the projects, that could lower project costs, CBD general manager Gerry McGowan said in a report on Sydney Morning Herald.

Mr McGowan added that it hopes to narrow down the price of wind energy generated power and be in similar levels of coal-fired power within three years.