InfraRed acquires 40% stake in 228MW Australian onshore wind farm
|Category||Real Estate /|
InfraRed Capital Partners has acquired a 40% stake in the Lal Lal Wind Farm, a 228MW greenfield onshore wind farm project in Australia. The investment makes InfraRed one of the largest shareholders in a consortium of investors.
Lal Lal will comprise 60 x 3.8MW Vestas turbines across two sites near Ballarat in the state of Victoria. Construction has started and the sites are expected to be fully operational in late 2019. The project will benefit from revenue offtake with two Australian industrials. Once fully operational, Lal Lal is expected to generate over 650GWh per annum, enough energy to power over 92,000 households.
Edward Hunt, Investment Director, Infrastructure, InfraRed states: “Lal Lal is an attractive opportunity to invest in a high-quality onshore project alongside experienced partners. It marks an important milestone for InfraRed’s global energy platform as we will be able to bring our experience in greenfield energy projects across the Americas and Europe to support the generation of clean energy in Australia.”
Sebastien Pochon, Director, Infrastructure, InfraRed adds: “InfraRed manages over 2GW of capacity worldwide. We have been investing in Australia since 2009 and are delighted to be expanding our offer here. We are proud of our role in facilitating global renewables growth and actively continue to pursue opportunities in low carbon generation, grid services and energy storage.”