Partners, CWP merge ops for 2.2-GW wind, storage Aussie spree - report

Australian developer CWP Renewables and Swiss private markets investor Partners Group have merged their Aussie assets to create a company with a 2.2 GW renewables pipeline, the Australian Financial Review (AFR) reports.

AFR’s Street Talk writes, without giving specific details about the deal, that the move is aimed at establishing one of the largest private renewable asset owners and power producers in Australia. The combined entity will pursue the development of 2.2 GW of wind and energy storage projects in New South Wales.

It is expected that the new entity will retain the name CWP, while Partners Group will be its majority owner, according to the report. CWP will take part only with its wind and storage assets.

CWP and its Swiss partner have been collaborating since 2016 when Partners Group invested in CWP’s 270-MW Sapphire wind farm in New South Wales. Two years later, the duo formed an investment partnership dubbed the Grassroots Renewable Energy Platform that was seeded with the Sapphire project, the 135-MW Crudine wind farm and the 115-MW Boco Rock wind, also in New South Wales, and a wind, solar and storage pipeline.

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