Copenhagen Infrastructure Partner’s fifth infrastructure fund has acquired a major onshore wind and battery project in Australia, the manager revealed.
CIP’s CI V fund has acquired Gawara Baya, a hybrid onshore wind farm with a grid-forming battery energy storage system (BESS) located in North Queensland, Australia.
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The hybrid project combines a 408 MW onshore wind farm with 104 MW of BESS, located on Gugu Badhun Country, south-west of Ingham in North Queensland.
The fund has secured the AUD 1.7bn (£900m) facility from Windlab, an Australian renewable energy developer and operator. With construction due to commence soon, the manager expects the project to be fully operational by 2030.
Commenting on the new commitment, Yi-Hua Lu, partner at CIP, said: “Gawara Baya is an important addition to our Australian portfolio. The Gawara Baya project represents a significant long-term investment in Queensland, supporting regional jobs, infrastructure development, and the reliable energy supply needed to underpin the state's continued economic growth. We look forward to working alongside our project partners, the Gugu Badhun People, and local communities as the project now moves into construction.”
To date, CIP has some €43bn (£36.8bn) in assets under management which are invested across 15 funds.
