Canadian and Australian infrastructure investors Northleaf Capital Partners and Palisade Investment Partners have agreed to acquire a 75% equity interest in the 111 MW Waterloo wind farm, located near Clare, South Australia.
According to the terms of the deal, the buyers will pay $228 million for the wind farm, which features 37 Vestas V90-3 MW turbines. EnergyAustralia will keep a 25% interest in the wind farm and will be contracted to provide asset management services.
EnergyAustralia will also continue to be a long-term off-taker for both energy and large-scale generation certificates produced by the wind farm. As an energy retailer, EnergyAustralia purchases these certificates in order to meet its obligations under Australia's renewable energy target program.
According to the companies, a planned 18 MW expansion of the wind farm is currently being assessed for local government planning approval.