Denham Capital has announced an investment of US$75 million of equity in a 1GW portfolio of Australian wind power projects currently under development.
As part of the deal, which is subject to procedural closing conditions, Denham is joining existing project sponsors Enersis Australia, National Power and Kato Capital to create OneWind Australia. OneWind Australia will initially focus on the late-stage development and financing of several Australian projects, including Glen Innes, a 100 megawatt venture in New South Wales, Lincoln Gap, a 250 megawatt project in South Australia, and Cattle Hill, a 240 megawatt development in Tasmania. Denham's commitment will accelerate the development of these projects, with the goal of achieving financial closing on several phases in the second half of 2013 or in 2014. Denham is appointing Michael Toke as Managing Director of OneWind Australia, which is operating out of Sydney.
