Copenhagen Infrastructure Partners has completed the acquisition of Gawara Baya, a hybrid onshore wind and battery energy storage project in North Queensland, Australia, reaching financial close on a USD 1.22 billion facility backed by ten banks and committing to a construction timeline that targets full operations by 2030.

Project Overview and Location

The Gawara Baya project combines a 408-megawatt onshore wind farm with 104 megawatts of battery energy storage system capacity. It is located on Gugu Badhun Country, south-west of Ingham in North Queensland.

The project will involve 68 wind turbines and is designed to supply clean power to up to 240,000 Australian homes while avoiding 1.2 million tonnes of carbon emissions from Australia's energy sector annually.

Copenhagen Infrastructure Partners made the acquisition on behalf of its fifth flagship fund, Copenhagen Infrastructure V, following receipt of all major regulatory approvals. The financial close and final investment decision have now been confirmed, clearing the way for construction to begin.

Acquisition from Windlab

CIP acquired Gawara Baya from Windlab, an Australian renewable energy developer and operator described in the announcement as having a strong track record in onshore wind and battery energy storage systems. No financial terms of the acquisition itself were disclosed beyond the details of the project financing facility.

The USD 1.22 billion facility was secured through ten banks, providing the funding base for the project to proceed through construction. The project is now expected to be fully operational in 2030.

Revenue Arrangements and Government Scheme Participation

Gawara Baya has secured long-term energy offtake arrangements ahead of entering construction. These include agreements with Stanwell and SmartestEnergy, as well as participation in the Australian Government's Capacity Investment Scheme. CIP described the combination of these arrangements as providing long-term revenue certainty for the project as it moves through the construction phase.

Stanwell is a Queensland government-owned energy corporation, and SmartestEnergy is an energy trading and supply business. The specific volumes or durations of the offtake agreements were not disclosed in the announcement.

Regional Economic Impact

CIP stated that Gawara Baya is expected to inject more than USD 143.2 million into the regional Queensland economy through local employment, procurement, and supply chain participation. The project is projected to create up to 500 direct and indirect jobs in regional Queensland during its development and construction phases.

Yi-Hua Lu, a Partner at CIP, said the project represents a significant long-term investment in Queensland, supporting regional jobs, infrastructure development, and the reliable energy supply needed to underpin the state's continued economic growth.

Lu also noted that CIP looks forward to working alongside project partners, the Gugu Badhun People, and local communities as the project moves into construction.

Strategic Rationale for CIP

Thomas Wibe Poulsen, Partner at CIP, described the acquisition as a unique opportunity for the firm to deploy significant near-term capital from its fifth flagship fund.

Poulsen said the deal demonstrates CIP's ability to identify and secure assets that can deliver meaningful value for investors, and characterised Gawara Baya as bringing critical energy infrastructure to Australians.

The announcement positioned the acquisition as an opportunity to deploy near-term capital in Australia and create value for investors in Copenhagen Infrastructure V specifically. CIP's broader Australian portfolio was referenced by Lu, who described Gawara Baya as an important addition to that existing presence.

About Copenhagen Infrastructure Partners

Founded in 2012, Copenhagen Infrastructure Partners is a global fund manager focused on energy infrastructure. The firm currently manages 15 funds and has raised approximately USD 49.84 billion to date from more than 200 institutional investors. CIP operates across more than 30 countries with a workforce of over 2,300 professionals.

Its investment scope spans power generation through solar and wind, energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels, and carbon capture.

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