Squadron Wind Energy Assets will purchase CWP Renewables, a vertically integrated 1100MW renewable energy infrastructure in Australia, from Partners Group.
Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank, and Snowy Hydro are just a few of the companies served by CWP’s renewable energy platform, which also includes onshore wind and battery farms.
It now manages wind farms such Crudine Ridge, Murra Warra I & II, Bango Wind Farm, Sapphire Wind Farm, and Murra Warra II, which have a combined capacity of 435MW and 75 turbines each (142MW).
In addition, CWP has a 30MW battery project and a construction-ready 414MW wind farm.
The platform has a pipeline of projects that includes 15GW that are in the early stages of development and another 5GW that are near-medium term projects.
In keeping with its long-term and thematic strategy to investing in next-generation infrastructure assets that profit from decarbonization trends, Partners Group created CWP from the ground up.
In 2016, the business made an investment in Sapphire Wind Farm, the first CWP facility to be built.
Partners Group head of Australia Martin Scott said: “We are proud to have built a major renewable energy platform that is set to play a key role in decarbonizing Australia’s energy mix and supporting the country and its businesses in meeting their ambitious net zero ambitions.”
The deal must get typical regulatory clearances in order to be completed.
Macquarie Capital served as Partners Group’s financial advisor, and Clifford Chance served as its legal advisor.
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