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Copenhagen Infrastructure Partners has acquired the Gawara Baya hybrid renewable energy project in North Queensland from Windlab, while also reaching financial close on an AUD 1.7 billion financing package for the development.
The project combines a 408 MW onshore wind farm with a 104 MW grid-forming battery energy storage system. Located on Gugu Badhun Country southwest of Ingham, the development is set to include 68 wind turbines.
Construction is now beginning after the project received all major approvals and reached a final investment decision. Financing was secured from a group of 10 banks, and full operations are targeted for 2030.
Gawara Baya has secured long-term offtake arrangements with Stanwell and SmartestEnergy and is participating in the Australian Government’s Capacity Investment Scheme. According to the company, those arrangements provide contracted revenue visibility as the project moves into construction.
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At full operation, CIP said the project could generate enough electricity for as many as 240,000 Australian homes and avoid approximately 1.2 million tonnes of carbon emissions from Australia’s energy sector annually.
CIP said it expects the project to contribute more than AUD 200 million to the regional Queensland economy through employment, procurement, and local supply chains. Up to 500 direct and indirect regional jobs are expected to be created.
The acquisition adds to deployments from Copenhagen Infrastructure V and expands CIP’s Australian renewable energy portfolio. CIP has raised approximately €43 billion across 15 funds and maintains projects in more than 30 countries.
"The acquisition of Gawara Baya is a unique opportunity for CIP to deploy significant near-term capital from our fifth flagship fund to bring the project into operation and deliver critical energy infrastructure for Australians."
Thomas Wibe Poulsen, Partner At Copenhagen Infrastructure Partners
"The Gawara Baya project represents a significant long-term investment in Queensland, supporting regional jobs, infrastructure development, and the reliable energy supply needed to underpin the state’s continued economic growth."
Yi-Hua Lu, Partner At Copenhagen Infrastructure Partners
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