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Denham Capital invests $75m in 1GW Australian wind power portfolio

7 May 2013

Energy-focused private equity firm Denham Capital has invested $75m in a 1GW portfolio of Australian wind power projects currently under development.

As part of the deal, Denham will join existing project sponsors Enersis Australia, National Power and Kato Capital to create OneWind Australia.

OneWind Australia will initially focus on the late-stage development and financing of several Australian projects, including Glen Innes, a 100MW venture in New South Wales, Lincoln Gap, a 250MW project in South Australia, and Cattle Hill, a 240MW development in Tasmania.

Denham’s commitment will accelerate the development of these projects, with the goal of achieving financial closing on several phases in the second half of 2013 or in 2014.

Scott Mackin, managing partner and co-president at Denham Capital and head of the firm’s global power and renewables team, said, “We are delighted to be forming OneWind Australia with our partners at Enersis Australia, National Power and Kato Capital and look forward to accelerating the near term pipeline of projects.

“We believe that the combined skills, capital and projects that we collectively bring to the table create exciting opportunities for the partnership.

“This investment also further underscores Denham’s commitment to Australia, where we opened a new office in Perth in November in response to the metals and minerals opportunities in the region, and where another Denham portfolio company, international solar developer Fotowatio Renewable Ventures, has significant activities and a team on the ground.”

In addition to the Australian projects, Denham and Enersis Australia’s main shareholder, Lisbon-based Infraventus Group, will look to partner in other global growth markets where on-shore wind opportunities are present, including Europe, Africa, and Latin America. In addition, they will consider select acquisitions where the team’s core competencies can be leveraged, it said.

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