Partners Group has purchased the second stage of the Murra Warra Wind Farm development in Australia for A$180m (€109m), two years after acquiring the first stage for A$200m.
The Swiss-headquartered private markets fund manager now owns Murra Warra I and Murra Warra II, which combined will be able to generate more than 400MW of power.
The wind farm in Western Victoria is being developed by Renewable Energy Systems (RES) and Macquarie’s Green Investment Group (GIG).
RES and GIG have arranged a long-term power purchase agreement for Murra Warra II with utilities company Snowy Hydro, through its renewable energy procurement programme.
Andrew Kwok, Partners Group’s managing director and head of private infrastructure for Asia, said the Australian renewable energy sector was benefitting from the “transformative trend” from coal-fired generation to renewable energy in the coming decade.
“Investing into Murra Warra II at the construction phase, and successfully delivering the project through to its operational phase, is consistent with both our ‘platform expansion’ and ‘building core’ strategies in infrastructure,” he said.
It is Partners Group’s sixth major wind farm investment in Australia since 2015, when it invested in the development of the Ararat Wind Farm in Victoria.
In 2018, Partners Group committed to invest A$700m to develop Grassroots Renewable Energy Platform, a large-scale project that aims to construct more than 1.3GW of new wind power, solar power and battery storage assets across Australia within the next four years.