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.”
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About InfraRed Capital Partners:
InfraRed is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 130 professionals it manages in excess of US$10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
Since its inception, InfraRed has launched 17 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure Company Limited and The Renewables Infrastructure Group (TRIG), both of which are members of the FTSE 250. To date, InfraRed has realised six funds, demonstrating its ability to create real value for its stakeholders.
InfraRed has been investing in the Infrastructure market for over 20 years and is one of world’s largest managers of social and transportation infrastructure projects. InfraRed has evolved its business from principally managing PPP projects at its inception to a diversified and international investment business, with around 80 infrastructure investment professionals, managing over 200 investments in PPP projects, renewable energy, regulated and economic infrastructure businesses.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment and its infrastructure business has been awarded the highest rating.
Further details can be found on InfraRed’s website, www.ircp.com.