Wind Turbine

Energy-focused private equity firm Denham Capital has agreed to invest $75m in a 1GW portfolio of wind power projects, which are currently under development in Australia.

The agreement is subject to procedural closing conditions and will allow Denham to partner with existing project sponsors, Enersis Australia, National Power and Kato Capital.

Together, the companies will create OneWind Australia, which will initially oversee the late-stage development and financing of various projects in Australia.

OneWind Australia’s portfolio includes the 100MW Glen Innes project in New South Wales, the 250MW Lincoln Gap in South Australia, and the 240MW Cattle Hill project in Tasmania.

Denham said its investment will accelerate the development of the projects to reach financial closing on several phases in the second half of 2013 or in 2014.

Denham Capital managing partner and head of global power and renewables team Scott Mackin said: "This investment also further underscores Denham’s commitment to Australia, where we opened a new office in Perth in November in response to the metals and minerals opportunities in the region, and where another Denham portfolio company, international solar developer Fotowatio Renewable Ventures, has significant activities and a team on the ground."

Denham and Enersis Australia’s main shareholder, Lisbon-based Infraventus Group, will also look to partner in other growth markets globally where on-shore wind opportunities are present, including Europe, Africa and Latin America.

Image: Denham Capital will invest $75m in a 1GW portfolio of wind power projects in Australia. Photo: Courtesy of