News

A RES Australia / Energy Estate joint venture is offering an equity interest in its Central Queensland Power’s (CQP) portfolio of wind and solar / BESS hybrid projects in Central Queensland.

CQP has assembled a portfolio of projects with more than 2 GW total capacity, with potential for expansion up to 3 GW. Specific projects include:

·        Moah Creek Solar / BESS Hybrid (330-350 MW solar + 330 MW / 4 to 8-hour BESS)

·        Wooderson Solar / BESS Hybrid (450 MW solar + 450 MW / 4 to 8-hour BESS)

·        Confidential Solar / BESS Hybrid (450 MW solar + 450 MW / 4 to 8-hour BESS)

·        225 MW Mount Rainbow Wind Farm

·        508 MW Mount Sugarloaf Wind Farm

·        328 MW Mount Perry Wind Farm

According to sale marketing material, “The portfolio is well-positioned to supply the future needs of the growing demand base in the region, in particular Rockhampton and Gladstone and their local industrial and port facilities”.

Buyers can acquire an initial, indicative equity interest of 49% in the CQP portfolio made up of 30% from Energy Estate and, indicatively, 19% from RES.

The intention would be for RES to continue as an equity and development partner, providing services to bring the projects to FID / NTP, while retaining an approximate 51% interest.

There is potential for a buyer to acquire the remaining RES interest in each asset at or around FID / NTP.

The sale process is being managed by ICA Partners (https://icapartners.com.au/) who can provide full details.