InfraRed Capital Partners completes sale of stake in Lal Lal Wind Farm to Igneo Infrastructure Partners

Multiple wind turbines
Category Disposal / Australia
Date
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E-mail: IRCP@teneo.com

InfraRed Capital Partners (“InfraRed”) today announces that it has completed the sale of its 40% investment in the Lal Lal Wind Farm project (“the Project”) to Igneo Infrastructure Partners (“Igneo”), the direct infrastructure investment arm of First Sentier Investments.

The Lal Lal Wind Farm project is a 228MW greenfield onshore wind farm near Ballarat in the state of Victoria, Australia. It comprises two distinct wind farms: Yendon Wind Farm and Elaine Wind Farm. InfraRed acquired a minority stake in the Project in 2018.

The Project has been generating at full capacity since early 2021. The electricity generated in 2021 avoided 153,212 tonnes of carbon dioxide emissions and was enough to power 112,125 homes for the entire year.

Commenting on the transaction, Sven Stubican, Head of Australia and New Zealand at InfraRed, said:

“Over the past four years, InfraRed provided significant support to the Lal Lal Wind Farm project throughout its construction and development phase. Lal Lal Wind Farm, which became operational in 2019, is now making a significant contribution to renewable energy generation in the Victoria region. InfraRed continues to explore and seek opportunities to invest in renewable energy infrastructure in the region.”

 

About InfraRed Capital Partners

InfraRed Capital Partners is an international infrastructure investment manager, investing in real assets which contribute positively to society and support the transition to a net zero future. It operates worldwide from offices in London, New York, Sydney and Seoul. With around 170 professionals, it manages US$14bn+ of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

At InfraRed, a long-term, sustainability-led mindset is essential to delivering lasting success, and this mindset directs its assessment and management of the Environmental, Social and Governance (“ESG”) aspects of its business. InfraRed has been a signatory of the Principles of Responsible Investment1 since 2011 and has been awarded triple A+ score in the 2020 review (relating to the 2019 assessment period). It is also a member of the Net Zero Asset Manager’s Initiative, a certified CarbonNeutral® company2 and is a TCFD supporter.

InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. Over the past 30 years, InfraRed has established itself as a highly successful developer and custodian of core infrastructure, renewable energy and real estate assets that play a vital role in supporting sustainable communities.

Data as at Q2 2022. Equity Capital is calculated using a 5-year average FX rate.

www.ircp.com

 

1 Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at https://www.unpri.org/about-the-pri

2 In accordance with The CarbonNeutral Protocol. Further information is available at https://carbonneutral.com/the-carbonneutral-protocol