Macquarie Asset Management has launched a new onshore renewable energy business in Australia, Aula Energy.
Its initial portfolio has an expected capacity of 4GW of planned projects spanning every state in the country.
Its first scheme, Boulder Creek Wind Farm near Rockhampton, Queensland, is expected to begin construction in 2024.
The initial portfolio includes a series of large-scale onshore wind farms in Western Australia totalling up to 2.4GW.
These projects, to be developed in partnership with Green Wind Renewables, are in the early stages of development.
Aula Energy’s expected portfolio includes sites in New South Wales, Victoria, South Australia and Tasmania.
Its business model has been designed to span the full “develop, build, own, operate” project lifecycle while continually sourcing a pipeline of new schemes and innovating as customer requirements, technologies, markets, and policies evolve it said.
Aula Energy will seek to build and grow a long-term business to meet future energy needs using market leading capabilities to originate, develop, construct and operate utility-scale wind, solar and integrated batteries across the Australian and New Zealand markets added the business.
It brings together Macquarie’s 17-year track record of investing in the renewable energy sector with a strong local team experienced in developing and commercialising onshore renewables, the company said.
The business will be led by Chad Hymas, who brings 20 years of experience in the energy industry across strategy, growth, regulation, operations, and finance, it added.
Hymas said: “A powerful collaboration with partners will deliver on Aula Energy’s vision to be a leading green independent power producer in Australia and New Zealand that is trusted and committed to providing sustainable energy, energy for the future.
“Key to Aula Energy’s approach will be the long-term sustainable development of these assets. We believe it’s through partnerships that we can have the most impact.
“That’s why we will prioritise long-term relationships and meaningful collaboration in developing our projects.”
Lachlan Creswell, head of Macquarie Asset Management’s specialist green investments team for Australia and New Zealand, said Aula Energy will diversify and expand its onshore portfolio.
He added: “Aula Energy offers Australian and international investors exposure to a unique and diversified portfolio at an important time for renewable energy markets in the region, in the context of increasing demand from commercial and industrial off-takers.
“The energy transition in Australia requires an acceleration in the deployment of new renewable generation.
“Macquarie Asset Management’s specialist Green Investments team is a global leader in decarbonisation solutions, and we are excited to expand this work through Aula Energy.
“The Aula Energy team’s experience, and long-term partnership approach to the creation and management of renewable energy projects will be underpinned by access to long-term capital.”