Palisade, Northleaf invest in Australian wind farm

The 37-turbine Waterloo wind farm is located near Clare, South Australia, and has a capacity of 111 megawatts. EnergyAustralia has signed a long-term contract to provide asset management services to the facility and will continue to be an off-take partner.

Palisade and Northleaf, infrastructure investment specialists from Australia and Canada, respectively, have secured asset-backed non-recourse financing for the transaction from a number of large banks. They also have the option to participate in a planned 18 MW expansion of the farm.

Jamie Storrow, managing director and co-head of Northleaf's infrastructure program, said the Waterloo investment offers attractive, risk adjusted returns for investors with a projected asset lifespan of more than 25 years and access to contracted revenue through the off-take arrangement.

"Direct investment in mature, low risk wind energy assets like the Waterloo wind farm is consistent with Northleaf's investment strategy and offers significant potential for stable, long-term returns," he added, in a statement.

This is the second Australian wind power investment in the space of a week, following US private equity firm Denham Capital $75 million commitment to several projects that will be united under the OneWind Australia banner.

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