Partners Group is to sell CWP Renewables, a vertically integrated 1100MW renewable energy platform in Australia, to Squadron Wind Energy Assets.
CWP’s renewable energy platform spans onshore wind and battery farms, and provides power to clients including Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank, and Snowy Hydro.
It currently operates wind assets including Sapphire Wind Farm (pictured), which has 75 turbines generating up to 270MW, Murra Warra I & II (with a combined 435MW), Bango Wind Farm (244MW), and Crudine Ridge (142MW).
CWP’s portfolio also includes a construction-ready 414MW wind farm and a 30MW battery project.
The platform has a project pipeline including 5GW of near-medium term projects and an additional 15GW at an early stage of development.
Partners Group developed CWP from the ground up in line with its long-term and thematic approach to investing in next-generation infrastructure assets that benefit from decarbonization trends.
The firm invested in Sapphire Wind Farm, the first of the CWP assets to be constructed, in 2016.
Partners Group head of Australia Martin Scott said: “We are proud to have built a major renewable energy platform that is set to play a key role in decarbonizing Australia’s energy mix and supporting the country and its businesses in meeting their ambitious net zero ambitions.”
Completion of the transaction is subject to customary regulatory approvals.
Partners Group was advised by Macquarie Capital as its financial advisor and Clifford Chance as its legal advisor.