Palisade’s co-investor, Canadian group Northleaf Capital Partners, owns the remaining 26 per cent of the asset.
The Waterloo Wind Farm sells 100% of its power generation to EnergyAustralia and Hydro Tasmania under long term electricity off take agreements. EnergyAustralia will continue to operate the wind farm and provide asset management services including engagement with the local community and key stakeholders.
Waterloo wind farm is based East of Mintaro, South Australia. The 111 megawatt wind farm spreads across 5 acres of land and cost about $350 million, it began construction in November, 2008 and has been operational since October 2010. It has 37 turbines, each 80 metres high, with each turbine blade 44 metres long and weighing about 8 tonnes.
This is Palisade’s fifth investment in the energy sector and complements its existing investments in other renewable energy, conventional power and pipeline assets. The asset has generated an annualised return in excess of 12% since Palisade’s original acquisition from EnergyAustralia in H1 2013.
Daniel Roberts, Investment Director at Palisade Investment Partners, said Waterloo Wind Farm represents an attractive opportunity for its investors. He stated:
“Waterloo Wind Farm has performed well since acquisition and continues to provide stable, long term investment returns. Its environmental and social attributes are consistent with the ESG principles that we expect from all our infrastructure assets. Palisade Investment Partners is a signatory to the UN Principles for Responsible Investment and we have a strong focus on optimising investment returns and minimising risk.”
Palisade’s Diversified Infrastructure Fund, which holds a significant interest in the Waterloo Wind Farm, has generated returns 14.2% pa over the past 3 years and 11.8% pa over the past 5 years.
We have recently reported about several win projects globally: