The 408 MW Gawara Baya wind project in North Queensland will include a 104 MW BESS. Copenhagen Infrastructure Partners has acquired the project for CI V, which secured an AUD 1.7 billion financing facility from 10 banks. Project construction is commencing, with full operation expected in 2030.
SNAPSHOT
Buyer: Copenhagen Infrastructure Partners on behalf of CI V
Seller: Windlab
Project: Gawara Baya
Location: Gugu Badhun Country, North Queensland, Australia
Wind Capacity: 408 MW
BESS Capacity: 104 MW
Financing: AUD 1.7 billion facility through 10 banks
Commissioning Target: 2030
Copenhagen Infrastructure Partners (CIP), a Denmark-based fund manager specialising in energy infrastructure, has purchased the Gawara Baya hybrid project on behalf of Copenhagen Infrastructure V (CI V). The planned facility combines 408 MW of onshore wind generation with a 104 MW grid-forming BESS. The project lies on Gugu Badhun Country, south-west of Ingham in North Queensland, Australia. CIP has acquired Gawara Baya from Windlab, an Australian renewable energy developer and operator.
With all major approvals received, CI V has made a final investment decision and reached financial close for the project. The fund secured an AUD 1.7 billion (~ $1.214 billion) facility through 10 banks, and construction will now commence. Gawara Baya is expected to become fully operational in 2030 and will comprise 68 wind turbines alongside the BESS.
The project has secured long-term energy offtake arrangements with Stanwell and SmartestEnergy. It will also participate in the Australian Government's Capacity Investment Scheme, which the release links to long-term revenue certainty as the project enters construction.
Gawara Baya has the capacity to provide clean power to up to 240,000 Australian homes and avoid 1.2 million tonnes of carbon from Australia's energy sector each year. The project is also expected to inject more than AUD 200 million (~ $142 million) into the regional Queensland economy through local employment, procurement and supply chain participation, while creating up to 500 direct and indirect jobs in regional Queensland.
Thomas Wibe Poulsen, Partner at CIP, said the acquisition gives the fund an opportunity to deploy near-term capital from CI V and bring the project into operation. Yi-Hua Lu, Partner at CIP, said the project would support regional jobs, infrastructure development and reliable energy supply in Queensland, while CIP plans to work with project partners, the Gugu Badhun People and local communities as construction proceeds.
Since its initiation in 2012, CIP manages 15 funds and has raised approximately EUR 43 billion to date. Through its funds, CIP invests in PV and wind power generation, energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels and carbon capture.