Copenhagen Infrastructure Partners, through its Copenhagen Infrastructure V flagship fund, has acquired the Gawara Baya hybrid renewable energy project in North Queensland from Windlab and reached financial close with an AUD 1.7 billion financing package.
The project secured financing from a group of 10 banks after receiving all major approvals and reaching a final investment decision. Construction is now beginning, with full operations targeted for 2030.
Gawara Baya combines a 408 MW onshore wind farm with a 104 MW grid-forming battery energy storage system.
The development, located on Gugu Badhun Country southwest of Ingham, will include 68 wind turbines.
At full operation, CIP said the project could generate enough electricity for as many as 240,000 Australian homes and avoid approximately 1.2 million tonnes of carbon emissions from Australia’s energy sector annually.
Gawara Baya has secured long-term offtake arrangements with Stanwell and SmartestEnergy and participates in the Australian Government’s Capacity Investment Scheme.
Those arrangements provide contracted revenue visibility as the development moves into its construction phase.
CIP expects the project to contribute more than AUD 200 million to the regional Queensland economy through employment, procurement and local supply chains.
Up to 500 direct and indirect regional jobs are expected to be created.
The acquisition represents another deployment from Copenhagen Infrastructure V and expands CIP’s Australian renewable energy portfolio.
CIP has raised approximately €43 billion across 15 funds and maintains projects in more than 30 countries.
KEY QUOTES:
“The acquisition of Gawara Baya is a unique opportunity for CIP to deploy significant near-term capital from our fifth flagship fund to bring the project into operation and deliver critical energy infrastructure for Australians.”
Thomas Wibe Poulsen, Partner At Copenhagen Infrastructure Partners
“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.”
Yi-Hua Lu, Partner At Copenhagen Infrastructure Partners
