Palisade Investment Partners and Aware Super have acquired a 49% interest in Australia’s largest operating wind farm from Goldwind for an undisclosed price.
Palisade’s Diversified Infrastructure Fund will co-invest with the A$155bn (€100.5bn) superannuation fund to acquire the stake in Stockyard Hill Wind Farm in Victoria from the Hong Kong-based firm’s Australian arm.
Their co-investor in the facility is Doha-based Nebras Power, which holds a 49% stake acquired in 2020.
Goldwind Australia retains a small residual stake and will continue to provide ongoing operations and maintenance services to the project.
Mark Hector, Aware Super senior portfolio manager, infrastructure and real assets, Mark Hector, said: “We believe Stockyard Hill Wind Farm will provide a valuable new source of strong risk-adjusted returns for our members’ A$1bn renewable energy portfolio.”
Hector told IPE Real Assets that the majority of the fund’s renewable energy portfolio was in Australia. This included SnowTown Wind Farm and Tilt Renewables.
“Energy transition is the number one theme in Australia and globally, so much money needs to be invested over the next 10-plus years. We are keenly interested in the sector, both in Australia and globally.
“Renewable generation is just one part of the overall energy transition story,” he told IPE Real Assets. “We have bought many hundreds of millions of dollars in wind-generation assets”
Palisade executive director, James Hann, said: “Stockyard Hill provides our investors with exposure to long-term contracted cashflows, and represents further diversification across our growing portfolio of renewable energy investments.
“This acquisition represents a continuation of our strategy to invest across the spectrum of renewable energy assets, including high-quality greenfield and brownfield projects.
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