Hydro Tasmania is confident a $1.6 billion deal with Chinese energy company Shenua would be unaffected by changes to the carbon tax.
Prime Minister Julia Gillard was on hand as Hydro signed an agreement with Shenua in Beijing to pursue wind farm projects that would generate 700 megawatts of electricity.
No specific projects have been detailed as part of the agreement, which builds on 75 per cent stakes by the Chinese company in two existing Tasmanian wind farms.
Hydro chief executive Roy Adair says the new deal is not contingent on the carbon price, which the federal opposition has pledged to abolish if it wins government in September.
But Mr Adair said continued bipartisan support for Australia's renewable energy target of 20 per cent was important.
"It's not related to the carbon tax," Mr Adair told reporters.
"It is fundamentally founded on the continuation of the renewable energy target and the need for Australia to use that investment class legislation to help it achieve the emissions reduction targets.
"It has bipartisan support so therefore I would say we're fairly confident it will remain in place.
"If Australia is to achieve those goals, and these goals are related to climate change targets and emissions controls, then this is a valuable piece of legislation and we see it staying in place."
Mr Adair said Shenua were keeping abreast of the carbon tax debate in Australia.
He said the price had boosted Hydro's income by $70-80 million since its introduction in July last year.
A 700 megawatt boost would translate to around 230 turbines and treble Hydro's wind farm operations operating at Woolnorth and soon-to-be completed Musselroe in the state's north.
It could include a 200-turbine proposal for King Island, which is in the community consultation phase.
