CIP acquires onshore wind and battery project in Australia
With all major approvals received, Copenhagen Infrastructure V (CI V), the flagship fund of Copenhagen Infrastructure Partners (CIP), has made a final investment decision and reached financial close, securing a USD 1.2 billion facility through 10 banks.
Copenhagen Infrastructure Partners (CIP), on behalf of its flagship fund Copenhagen Infrastructure V (CI V), has acquired Gawara Baya, a hybrid onshore wind farm with a grid-forming battery energy storage system (BESS) located in North Queensland, Australia.
With all major approvals received, CI V has made a final investment decision and reached financial close, securing a AUD 1.7 billion (about USD 1.2 billion) facility through 10 banks. Construction will now commence with Gawara Baya expected to be fully operational in 2030, according to a media release.
Gawara Baya is a hybrid project, combining a 408 MW onshore wind farm with 104 MW of BESS, located on Gugu Badhun Country, south-west of Ingham in North Queensland.
The project has secured long-term energy offtake arrangements, including agreements with Stanwell and SmartestEnergy, alongside participation in the Australian Government’s Capacity Investment Scheme, providing long-term revenue certainty as the project enters construction.
Gawara Baya is expected to inject more than AUD 200 million (about USD 144 million) into the regional Queensland economy through local employment, procurement, and supply chain participation, creating up to 500 direct and indirect jobs in regional Queensland, the media release said.
CIP has acquired Gawara Baya from Australian renewable energy developer and operator Windlab.
“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 CIP, said. “It demonstrates CIP’s ability to identify and secure assets that can deliver meaningful value for our investors.”
“Gawara Baya is an important addition to our Australian portfolio,” Yi-Hua Lu, Partner at CIP, said. “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.”
