Copenhagen Infrastructure Partners (CIP) has acquired an onshore wind and battery energy storage system (BESS) project in Australia from Windlab for an undisclosed sum.
CIP, investing on behalf of its flagship Copenhagen Infrastructure V (CI V) fund, has bought the Gawara Baya hybrid project in North Queensland.
CI V has secured a A$1.7bn (€1.04bn) financing facility from 10 banks for the project, which is entering construction and is expected to become fully operational in 2030.
Gawara Baya is a hybrid project, combining a 408MW onshore wind farm with 104 MW of BESS, located in Gugu Badhun Country, south-west of Ingham in North Queensland.
Thomas Wibe Poulsen, partner at CIP, said: “The acquisition of Gawara Baya is a unique opportunity for CIP to deploy significant near-term capital from our fifth flagship fund to bring the project into operation and deliver critical energy infrastructure for Australians. It demonstrates CIP’s ability to identify and secure assets that can deliver meaningful value for our investors.”
Yi-Hua Lu, partner at CIP, said: “Gawara Baya is an important addition to our Australian portfolio. The Gawara Baya project represents a significant long-term investment in Queensland, supporting regional jobs, infrastructure development, and the reliable energy supply needed to underpin the state’s continued economic growth.
“We look forward to working alongside our project partners, the Gugu Badhun People, and local communities as the project now moves into construction.”
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