Global private markets investment manager Partners Group has invested in 244MW Bango windfarm in New South Wales, Australia.
Partners Group Private Infrastructure Asia managing director and head Andrew Kwok said: “We are excited to deploy our significant industry expertise and value creation resources on behalf of our clients to build Bango windfarm.
“Bango will be Partners Group’s fifth renewables project in Australia, bringing our total renewables commitment in the country to almost A$1.2bn ($810m) to-date.”
Built with a total investment of $337m (A$500m), Bango windfarm is a construction-ready project that will be equipped with 46 GE Cypress 5.3MW turbines.
Construction work at the site is expected to begin this month and is expected to be operational by mid-2021.
Upon completion, the wind facility is expected to generate enough clean energy that will be sufficient to power more than 100,000 households, while offsetting 600,000 tonnes of carbon emissions annually.
Partners Group will also lead the operational roll-out of Bango, which will be the third Australian windfarm added to Grassroots Renewable Energy platform.
Additionally, Bango windfarm has secured a 15-year contract for 100MW of its capacity with the investment-grade off-taker Snowy Hydro.
Grassroots was established in May 2019 by Partners Group and CWP Renewables. It will be the third project undertaken by renewable energy developer CWP Renewables in NSW.
Grassroots Renewable Energy chair and Partners Group operating partner Benjamin Haan said: “Despite ongoing market challenges related to grid congestion and uncertainty in future green energy policy, there remains a compelling market opportunity for experienced developers and investors in renewable energy in Australia, particularly in New South Wales.
“With a potential project pipeline of 1.3GW of wind and solar generation capacity, we are pleased to continue to work with the CWP team to develop Grassroots into a renewables platform of significant scale, offering attractive offtake solutions across a diversified portfolio, and supporting the generation of clean energy in Australia.”