AMP Capital agrees to acquire 50% stake in Macarthur Wind Farm

AMP Capital has agreed to acquire a 50% interest in Macarthur Wind Farm, the largest wind farm in the southern hemisphere, from Malakoff. The acquisition is on behalf of investors in the AMP Capital Community Infrastructure Fund (CommIF) and the AMP Capital Core Infrastructure Fund (CIF).

Macarthur Wind Farm, located in south western Victoria, comprises 140 wind turbines capable of generating 420 MW of energy – enough to power the equivalent of 181,000 Australian homes every year. The site spans approximately 5,500 hectares of agricultural land outside the Macarthur township.

Energy generated from the wind farm, which started operating in 2013, is fully contracted to AGL under a fixed price contract until 2038. AGL operates Australia’s largest electricity generation portfolio and is one of the largest ASX-listed investors in renewable energy.

The transaction is valued at approximately AUD880 million (US$603.4 million).

Financial close of the deal is expected to complete by the end of the first quarter of 2020.

AMP Capital was advised by MUFG Bank, PwC, King & Wood Mallesons, Aurecon, and Frontier.