Danish fund manager Copenhagen Infrastructure Partners has finalized the acquisition of the Gawara Baya project, combining 408 MW of onshore wind and 104 MW of battery storage in Queensland, backed by a AUD 1.7 billion financing facility.

Copenhagen Infrastructure Partners (CIP), an infrastructure fund manager based in Copenhagen, announced the acquisition of the Gawara Baya project, a hybrid onshore wind farm paired with a battery energy storage system (BESS), located in North Queensland, Australia. The deal was carried out on behalf of its fifth flagship fund, Copenhagen Infrastructure V (CI V). The project sits on Gugu Badhun Country, south-west of Ingham.

A AUD 1.7 billion financing facility

After receiving all major approvals, CI V made its final investment decision and reached financial close on the project. The fund secured a $1.1 billion (AUD 1.7 billion) facility from ten banks, according to CIP. Construction is now underway, with full commercial operation expected in 2030.

Gawara Baya combines a 408 MW onshore wind farm with a 104 MW grid-forming battery energy storage system, designed to help stabilize the electricity grid. The project includes 68 wind turbines and could supply power to up to 240,000 Australian homes, according to the company. CIP states that the facility would avoid 1.2 million tonnes of carbon emissions annually from Australia's energy sector.

Offtake agreements with Stanwell and SmartestEnergy

The project has secured long-term energy offtake agreements, including with Stanwell and SmartestEnergy, alongside participation in the Australian Government's Capacity Investment Scheme, a mechanism designed to provide revenue certainty for renewable energy projects. These arrangements offer long-term revenue visibility as the project enters construction.

CIP acquired Gawara Baya from Windlab, an Australian renewable energy developer and operator specializing in onshore wind and battery storage. According to CIP, the project is expected to inject more than $130 million (AUD 200 million) into the regional Queensland economy through local employment, procurement and supply chain participation. Up to 500 direct and indirect jobs would be created in the region.

CIP expands its Australian portfolio

Thomas Wibe Poulsen, Partner at CIP, said the acquisition of Gawara Baya represented an opportunity for the fund to deploy significant near-term capital and create value for its investors. Yi-Hua Lu, also Partner at CIP, highlighted the project's importance for the company's Australian portfolio, pointing to its role in supporting regional jobs, infrastructure development and energy security in Queensland.