Global private equity firm Partners Group has acquired the 226MW first stage of Murra Warra Wind Farm (Murra Warra I) in Australia for AUD 200 million ($142.1 million), according to an official announcement.
The 226MW wind farm is being acquired from Renewable Energy Systems (RES) and Macquarie Capital, which jointly developed the project.
Under the acquisition, Partners Group is leading the delivery of Murra Warra I while RES will work alongside Partners Group to provide certain ongoing services to support the project.
The wind farm will consist of 61 Senvion 3.7M144 turbines and is expected to be fully operational by mid-2019. Once completed, Murra Warra I will generate enough clean energy to power 220,000 Australian households and offset over 900,000 tonnes of carbon emissions every year.
“Investing into a project such as Murra Warra I, where we can enter during the construction phase and successfully deliver the project through to its operation phase, is consistent with our ‘building core’ strategy in infrastructure and is Partners Group’s fourth major wind farm investment in Australia since 2015,” said Benjamin Haan, Partner, Co-Head Private Infrastructure Asia-Pacific, Partners Group.
“The project brings additional scale and diversification to our portfolio and is one of the highest-quality wind resource sites in Australia’s National Electricity Market,” he added.
The Murra Warra I investment follows Partners Group’s recent AUD 700 million ($497.4 million) commitment to develop Grassroots Renewable Energy Platform, a large-scale platform that aims to construct over 1.3GW of new wind power, solar power and battery storage assets across Australia within the next four years.
In March, Partners Group launched its first global impact fund, PG LIFE capped at $1 billion, to focus on investments in education, healthcare, energy access, clean energy, and social inclusion.
In a statement, the private investor said the fund will have the dual mandate to achieve attractive risk-adjusted financial returns alongside measurable, positive social and environmental impact.