The transaction adds 1.6 gigawatts of solar and wind power to the RES portfolio. There was no mention of a purchasing price.
The acquisition, according to RES, provides it with new capabilities, including new customer relationships and a broader footprint in Australia’s fast-growing asset management industry.
RES Director of Asset Management Asia Pacific Grant Harris said: “We are privileged to have the opportunity to bring the Blueshore and RES Asset Management teams together. We both share a common culture and mission to provide value to our clients through the delivery of innovative products and services that go to the core of maximising the value of operating assets.
“Bringing together two highly experienced teams in this dynamic and growing sector enables us to offer the broadest range of solutions for the owners of renewable energy projects.”
Mike Rand Blueshore founder added: “The transaction represents an exciting step both for Blueshore and for the Australian renewable industry, with the combined teams set to form a powerhouse of expertise in the management and optimisation of Australian renewable energy assets.”