{"id":657993,"date":"2013-05-14T19:43:16","date_gmt":"2013-05-14T23:43:16","guid":{"rendered":"https:\/\/www.pehub.com\/?p=201912"},"modified":"2013-05-14T19:43:16","modified_gmt":"2013-05-14T23:43:16","slug":"northleaf-palisade-take-75-interest-in-australian-wind-farm","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/657993","title":{"rendered":"Northleaf, Palisade Take 75% Interest in Australian Wind Farm"},"content":{"rendered":"

\"\"<\/a>Electricity and gas provider\u00a0EnergyAustralia<\/strong> has agreed to sell a 75% equity interest in a\u00a0111MW Waterloo operational wind farm, near Clare, South Australia. The joint buyers, which will pay AUD$228 million (US$228 million) for the assets, are Canadian and Australian infrastructure investors\u00a0Northleaf Capital Partners<\/strong> and Palisade Investment Partners<\/strong>.\u00a0EnergyAustralia will keep a 25% interest in the wind farm and will be contracted to provide asset management services.<\/p>\n

PRESS RELEASE<\/p>\n

May 14, 2013<\/p>\n

JOINT VENTURE TO OWN WATERLOO WIND FARM<\/strong><\/p>\n

EnergyAustralia today announced that it had reached a definitive agreement with infrastructure investment specialists, Palisade Investment Partners and Northleaf Capital Partners, who will now acquire a majority shareholding in the 111MW Waterloo wind farm, near Clare, South Australia.<\/p>\n

Under the Waterloo transaction, Palisade and Northleaf have acquired a 75% equity interest in the operational wind farm, simultaneously with a re-financing of the asset, realising total proceeds of AUD $228 million for EnergyAustralia.<\/p>\n

EnergyAustralia will retain a 25% equity interest in the wind farm and has signed a long-term contract with the jointly-owned entity to provide asset management services and maintain its commitment to engagement with the local community.<\/p>\n

EnergyAustralia will also continue to be a long term off-taker for both energy and Large-scale Generation Certificates produced by the wind farm. As an energy retailer, EnergyAustralia purchases these certificates in order to meet its obligations under the Renewable Energy Target Scheme.<\/p>\n

In addition, EnergyAustralia and Palisade have signed a development partnership Memorandum of Understanding, paving the way for both partners to collaborate on new renewable energy projects to meet future increases in market demand.<\/p>\n

EnergyAustralia Executive Manager Business Development, Ross Edwards, said the transaction would provide Palisade and Northleaf\u2019s investors with long-term returns and exposure to the burgeoning renewable infrastructure sector, including the potential for future expansion.<\/p>\n

\u201cThis transaction enables EnergyAustralia to retain off-take arrangements for renewable energy and provide asset management services for Waterloo, while liberating capital to invest in future projects,\u201d he said.<\/p>\n

Palisade Managing Director, Ian Mitchell, said a partnership with EnergyAustralia represented an exciting opportunity given the company\u2019s solid operations and development track record and its reputation as a leading national energy business.<\/p>\n

\u201cPalisade is looking forward to working alongside EnergyAustralia to continue the build out of our existing renewable energy and generation infrastructure portfolio in Australia,\u201d he said.<\/p>\n

\u201cWaterloo wind farm represents an exciting additional investment opportunity for our investors and we\u2019re encouraged by the pipeline of investment opportunities that EnergyAustralia has to offer.<\/p>\n

Media Release<\/p>\n

\u201cThe Development Partnership with EnergyAustralia provides our investors with a unique opportunity to co invest alongside a leading, experienced energy player with significant operational and development expertise. The partnership also offers Palisade\u2019s investors with a path to invest meaningful sums in quality Australian infrastructure.\u201d<\/p>\n

Jamie Storrow, Managing Director and co-head of Northleaf\u2019s infrastructure investment program, said the investment in Waterloo wind farm offers attractive, risk adjusted returns for investors with a projected asset lifespan of more than 25 years and access to contracted revenue through the offtake arrangements with EnergyAustralia.<\/p>\n

\u201cDirect investment in mature, low risk wind energy assets like the Waterloo wind farm is consistent with Northleaf\u2019s investment strategy and offers significant potential for stable, long-term returns,\u201d he said. \u201cWe look forward to maintaining a long-term partnership with EnergyAustralia.\u201d<\/p>\n

The Waterloo wind farm consists of 37 Vestas V90-3.0MW turbines.<\/p>\n

Participation in the joint venture also provides Palisade and Northleaf\u2019s investors with the option to participate in a planned 18MW expansion of the wind farm, currently being assessed for local government planning approval.<\/p>\n

Asset-backed non-recourse financing for this transaction is being provided by a number of large banks with the first tranche lasting for five years.<\/p>\n

For further information please contact:<\/p>\n

EnergyAustralia:
\nSarah Stent, Manager Corporate Affairs
\nTelephone +61418 142 173<\/p>\n

Palisade Investment Partners:
\nRoger Lloyd, Director
\nTelephone +612 8970 7801
\nroger.lloyd@palisadepartners.com.au<\/p>\n

Northleaf Capital:
\nJeff Pentland, Managing Director
\nTelephone +1.416.477.6165
\njeff.pentland@northleafcapital.com<\/p>\n

Photo courtesy of Shutterstock<\/a>.<\/em><\/p>\n

The post Northleaf, Palisade Take 75% Interest in Australian Wind Farm<\/a> appeared first on peHUB<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Electricity and gas provider\u00a0EnergyAustralia has agreed to sell a 75% equity interest in a\u00a0111MW Waterloo operational wind farm, near Clare, South Australia. The joint buyers, which will pay AUD$228 million (US$228 million) for the assets, are Canadian and Australian infrastructure investors\u00a0Northleaf Capital Partners and Palisade Investment Partners.\u00a0EnergyAustralia will keep a 25% interest in the wind […]<\/p>\n","protected":false},"author":7606,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-657993","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7606"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=657993"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657993\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=657993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=657993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=657993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}