Partners Group to invest $525m in Grassroots energy platform

30 May 2018 (Last Updated May 30th, 2018 11:46)

Partners Group is set to invest A$700m ($525m) in the development of the Grassroots Renewable Energy Platform in Australia on behalf of its clients. 

Partners Group is set to invest A$700m ($525m) in the development of the Grassroots Renewable Energy Platform in Australia on behalf of its clients.

In order to execute the platform, the company has partnered with local developer CWP Renewables (CWP), which is also an investor in the project.

Under the partnership, Partners Group and CWP will construct Crudine Ridge Wind Farm, a 135MW construction-ready power facility near Mudgee in New South Wales.

The windfarm will feature 37 GE 3.63MW turbines and be able to generate 400GWhrs of power per annum, which is enough for 55,000 homes.

Half of the energy generated by the plant will be supplied to Powershop, an Australian electricity provider that provides 100% green energy to its retail customers.

Construction works at the site will start this month, with completion expected by September next year.

During construction, the project is expected to create 75 full-time employment opportunities and removed more than eight million tonnes of carbon emissions during its lifetime.

In 2016, Partners Group first collaborated with CWP when it announced an investment of A$250m ($187m) for the development of 270MW Sapphire Wind Farm project in NSW.

“Partners Group and CWP have a project pipeline of 1.3GW in generation capacity across wind and solar power.”

This project is expected to be completed by October this year and will be able to power 110,000 Australian households and also offset more than 600,000t of carbon emissions during every year of operation.

Partners Group Asia-Pacific Private Infrastructure head Benjamin Haan said: “When we invested in Sapphire Wind Farm, one of the key attractions for us was the project’s potential to anchor an Australian renewable energy platform.

“Partners Group and CWP have a project pipeline of 1.3GW in generation capacity across wind and solar power, offering the scope to be selective and develop Grassroots into a quality renewables platform of significant scale.”

The Grassroots Platform will be combined with the Sapphire Wind Farm project and see construction of more than 1.3GW of new windpower, solarpower, and battery storage assets across the country over the next four years.

Additionally, the company is planning to launch a community co-investment project at Sapphire Wind Farm later this year.

The Crudine Ridge Wind Farm will be the second project under the Grassroots platform.