EnergyAustralia Considers Renewable Projects With New PartnersJames Paton
EnergyAustralia Holdings Ltd., a unit of power supplier CLP Holdings Ltd., said it’s considering developing wind and solar projects with infrastructure investors Palisade Investment Partners and Northleaf Capital Partners.
The companies will focus on potential wind farms in the states of South Australia and New South Wales, Ross Edwards, executive manager of business development at Melbourne-based EnergyAustralia, said yesterday in a phone interview.
EnergyAustralia plans to expand ties with Palisade and Northleaf after announcing yesterday the sale of 75 percent of its Waterloo wind farm in South Australia to the two companies for A$228 million ($226 million). They may collaborate on further ventures to contribute to Australia’s target of getting 20 percent of its power from renewable energy by 2020.
“This sort of structure positions us well for doing more development in the future along side Palisade and Northleaf Capital,” Edwards said. In addition to Australian wind farms, “both parties are interested in solar investment in the future, but we’ll see when those opportunities arise.”
EnergyAustralia’s assets include the 111-megawatt Waterloo wind farm and the Cathedral Rocks wind farm in South Australia, the Tallawarra gas-fired power station in New South Wales, and the Yallourn coal-fired power station in Victoria state. CLP Holdings is Hong Kong’s biggest electricity supplier.
Palisade is a Sydney-based infrastructure investor, and Northleaf is a Canadian company that manages funds for pension plans, university endowments and other investors.