Igneo Infrastructure Partners has agreed to acquire a 60% interest in the Lal Lal Wind Farms Partnership from InfraRed Capital Partners and Macquarie’s Green Investment Group.

Canada’s Northleaf Capital Partners will continue to hold the remaining 40% in the Australian wind farm partnership which operates a 228MW portfolio in Victoria.

The sale price was not disclosed, but industry sources, citing indicative bids, valued the wind farms at about A$400-450m (€270-303m), including debt.

Igneo declined to confirm or deny the value of the transaction.

Daniel Timms, Igneo’s head of asset management, Australia and New Zealand, said the acquisition of a 60% interest in Lal Lal Wind Farms was another important step in the manager’s participation in Australia’s energy transit journey.

Lachlan Creswell, head of the green investment group at Macquarie Group, Australia and New Zealand, said the Lal Lal Wind Farm was now making a meaningful contribution to renewable energy capacity in Victoria, equivalent to powering 95,000 homes.

Crewell added that under the ownership of Igneo Infrastructure Partners, the Lal Lal operation would progress to its next stage of development.

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