Foresight has reached financial close for the 130 MW first stage of the Kondinin wind farm in Western Australia’s Wheatbelt, securing A$430 million in debt financing. The financing has been provided by Australia and New Zealand Banking Group, Commonwealth Bank of Australia, Deutsche Bank, HSBC and Westpac. The financial close will allow construction of stage 1 to begin. The project has also secured a seven-year power purchase agreement with Synergy for 100 per cent of the renewable energy generated by stage 1, along with a 15-year Australian Government Capacity Investment Scheme Agreement.
Furthermore, Foresight has also acquired Shell Energy’s 50 per cent stake in Kondinin Energy Proprietary Limited, giving it full ownership of the broader 370 MW Kondinin Energy Project through its Australian Renewables Income Fund. The Western Australian Government has designated the project as a priority project under the State Development Act. Foresight’s Australian infrastructure team will lead the project through construction and operations, with Vestas contracted to deliver Stage 1 comprising 21 V162-6.2 MW wind turbines.
Earlier, in March 2026, Foresight Group announced that Foresight Energy Infrastructure Partners II SCSp had completed an investment in Mirai Power GmbH, a German battery energy storage system (BESS) developer. Mirai was founded in 2024, and its portfolio includes 12.5 GW of BESS. It mainly focuses on transmission-connected assets, along with selected distribution-level projects.