Copenhagen Infrastructure Partners acquires wind and battery project in Queensland

Copenhagen Infrastructure Partners (CIP) has announced the acquisition of the Gawara Baya hybrid renewable energy project in North Queensland, Australia, a facility that combines a 408 MW onshore wind farm with a 104 MW battery energy storage system (BESS).

CIP made the acquisition on behalf of its Copenhagen Infrastructure V fund, securing a AU$1.7 billion facility through 10 banks.

The acquisition was made from Windlab, an Australian renewable energy developer and operator specialising in onshore wind and BESS.

Construction on the project is now set to commence, with Gawara Baya, which is located south-west of Ingham in Gugu Badhun Country, expected to be fully operational by 2030.

‘A unique opportunity’

“The acquisition of Gawara Baya is a unique opportunity for CIP to deploy significant near-term capital from our fifth flagship fund to bring the project into operation and deliver critical energy infrastructure for Australians,” commented Thomas Wibe Poulsen, partner at CIP.

“It demonstrates CIP’s ability to identify and secure assets that can deliver meaningful value for our investors.”

The project involves 68 wind turbines and has the capacity to provide clean power to up to 240,000 Australian homes, according to CIP. This has the potential to reduce 1.2 million tonnes of carbon from Australia’s energy sector every year.

The project has secured long-term energy offtake agreements with Stanwell and SmartestEnergy and is also participating in the Australian Government’s Capacity Investment Scheme, which will provide ‘long-term revenue certainty as the project enters construction’, CIP noted.

Through local employment, procurement and supply chain participation, the project is expected to contribute more than AU$ 200 million to the regional Queensland economy. It will create as many as 500 direct and indirect jobs during both its development and operation.

‘Important addition’

“Gawara Baya is an important addition to our Australian portfolio,” added Yi-Hua Lu, partner at CIP. “The Gawara Baya project represents a significant long-term investment in Queensland, supporting regional jobs, infrastructure development, and the reliable energy supply needed to underpin the state’s continued economic growth.

“We look forward to working alongside our project partners, the Gugu Badhun People, and local communities as the project now moves into construction.” Read more here.