Partners Group announces wind project in Australia

Global private markets investment manager Partners Group has invested into the development of the 240 MW Ararat wind farm in Australia, the third largest wind project in the country.

Partners Group is now the largest shareholder in the wind farm, which also counts Renewable Energy Systems (RES), General Electric, and OPTrust, a Canadian pension fund, as investors.

The project was originally developed by RES and has a total investment cost of AU$450 million (US$344 million).

Ararat Wind Farm is a new-build site located on rural land approximately 180 km northwest of Melbourne. The project consists of 75 wind turbines with an expected rated capacity of up to 3.4 MW each, bringing the total generating capacity to roughly 240 MW.

The site has been awarded a 20-year feed-in tariff by the Australian Capital Territory (ACT) Government for a significant portion of the wind farm's output. Construction on the site will commence immediately with completion scheduled for mid-2017.

Benjamin Haan, Managing Director and Head of Private Infrastructure Asia-Pacific at Partners Group, will join the Board of Ararat Wind Farm. He has commented:

"Ararat Wind Farm is a well-structured project with high-quality counterparties and a strong wind resource. The timing of our investment aligns with increased certainty around Australia's Renewable Energy Target, which will require a substantial build-out of renewables in the coming years. The wind farm will make a great contribution not only to the local community in Ararat, in the form of employment, education and investment, but also to the future of renewable energy in Australia."

By supporting growth and employment in the renewable energy sector, Australia's Renewable Energy Target (RET) scheme is aiming to source 20% of the country's electricity from renewables by 2020.

With over US$45 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt, Partners Group manages a broad range of customized portfolios for institutional investors.