Investor Updates
US private equity firm Denham invests in Australian wind power
15 May 2013
Private equity firm Denham Capital Management has invested US$75 million in wind-power projects under development in Australia, where the Government has put policies in place to actively attract clean energy investment.
US-based Denham’s investment covers a one-gigawatt portfolio of Australian wind power from projects being developed by Enersis Australia, National Power and Kato Capital Pty Ltd. The portfolio includes projects in Cattle Hill, Tasmania; Glen Innes, New South Wales and Lincoln Gap, South Australia.
Denham, which specialises in energy and resources investments, and the three developers have formed OneWind Australia to finance and develop wind farms.
Denham Capital Managing Partner Scott Mackin said the consortium looks forward to accelerating its project pipeline.
"This investment also further underscores Denham's commitment to Australia, where we opened a new office in Perth in November in response to the metals and minerals opportunities in the region, and where another Denham portfolio company, international solar developer Fotowatio Renewable Ventures, has significant activities and a team on the ground," Mr Mackin said in a statement.
Late last year, Mr Mackin said Denham would invest as much as 20 per cent of its US$3 billion energy and resources fund in renewable energy.
In an interview with Bloomberg News, Mr Mackin said the company would focus on Australia, South Africa and Latin America as a means of building an international wind-power portfolio.
Boston-headquartered Denham Capital is an energy-focused global private equity firm, advising funds with approximately US$7.3 billion of invested and committed capital. It invests in the energy and resources sectors, including businesses involving renewable and thermal power generation, oil and gas, and metals and minerals.
Enersis Australia runs the domestic operations of Latin American energy giant Enersis, which is controlled by Spanish multi-national Endesa.
National Power and Kato Capital are both headquartered in the US and have offices in Australia.
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