Macquarie Asset Management has revealed its partnership with Perth-based Green Wind Renewables Pty Ltd (GRW) to collaboratively build up to 2.4 GW portfolio of onshore wind projects in Western Australia. The companies will collaborate on the projects as a joint venture, which might eventually grow to include more projects. Moreover, the partners have already negotiated land contracts for the projects and will now begin resource monitoring work.
Reportedly, the projects are currently in the early phases of construction, with community consultation sessions to be held as the development process proceeds. The scheduled capacity is planned to be connected to the South West Interconnected System.
In September 2022, Macquarie Asset Management agreed to sell a 15.5 per cent stake in the Lincs Offshore Wind Farm (Lincs) to Octopus Energy Generation funds. The asset manager held the stake through Macquarie European Infrastructure Fund V. No financial details were disclosed. The 15.5 per cent stake was acquired by Octopus Renewables Infrastructure Trust and Sky, funds managed by Octopus Energy Generation.
REGlobal’s Views: Western Australia is expected to witness tremendous capacity additions in the renewables space as the region plans to build 50 GW of renewables in just two decades. Thus, this is the right time to enter this highly attractive market which has ample untapped potential.
