Private equity giant Partners Group has announced on August 3, 2020 the acquisition of the second stage Murra Warra II Wind Farm in Australia in a US$129 million move.
This acquisition increases Partners Group’s assets in renewable energy as it only acquired 226 megawatts (MW) first stage of Murra Warra Farm for US$143 million from Macquarie Capital and renewable energy firm Renewable Energy Systems (RES).
Partners Group estimates the Murra Warra II will generate enough clean energy to power 150,000 Australian households.
Murra Warra II has already entered an agreement with Snowy Hydro, an Australian government-owned electricity generator and retailer, for 100 per cent of the capacity.
Andrew Kwok, managing director and head of private infrastructure Asia at Partners Group said “Investing into Murra Warra II at the construction phase and successfully delivering the project through to its operational phase is consistent with both our ‘platform expansion’ and ‘building core’ strategies in infrastructure.”
“We continue to believe the Australian renewable energy sector is benefiting from a transformative trend, with a significant amount of coal-fired generation retirements expected in the coming decade,” Kwok added