Denham Capital to Invest $75 Million in Australian Wind Power Porfolio, Forming OneWind Australia| International Power, Mining
Sydney – (7 May, 2013) – Denham Capital, a leading global energy-focused private equity firm, announced an investment of US$75 million of equity in a one gigawatt 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’s partners possess extensive experience in the wind power sector. Enersis Australia’s shareholder group includes the team that successfully developed and built more than 1,000 megawatts of wind power projects in Europe, while National Power has developed more than 700 megawatts that are currently operating in Australia and Kato Capital’s principals have been involved in more than 750 megawatts of wind power projects globally. The existing sponsors have been developing these Australian projects together since 2009.
Denham is appointing Michael Toke as Managing Director of OneWind Australia, which is operating out of Sydney. Toke has more than 10 years of experience in the wind energy industry, most recently serving as Chief Executive Officer of Cannon Power Group, a California company that has successfully developed, financed and constructed more than 1,000 megawatts of wind capacity globally.
Scott Mackin, Managing Partner and Co-President at Denham Capital and head of the firm’s global Power and Renewables team, said: “We are delighted to be forming OneWind Australia with our partners at Enersis Australia, National Power and Kato Capital and look forward to accelerating the near term pipeline of projects. We believe that the combined skills, capital and projects that we collectively bring to the table create exciting opportunities for the partnership. 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.”
In addition to the Australian projects, Denham and Enersis Australia’s main shareholder, Lisbon-based Infraventus Group, will look to partner in other global growth markets where on-shore wind opportunities are present, including Europe, Africa, and Latin America. In addition, they will consider select acquisitions where the team’s core competencies can be leveraged.
About Denham Capital
Denham Capital is a leading energy-focused global private equity firm, advising funds with approximately $7.3 billion of invested and committed capital. Denham Capital makes direct investments in the energy and resources sectors, including businesses involving renewable and thermal power generation, oil and gas, and metals and minerals. From offices in Boston, Houston, Short Hills (New Jersey), London, Sao Paulo and Perth, Denham invests globally, with investments currently in the U.S., Canada, South America, South Africa, Australia, Europe and Asia. Denham invests across all stages of the corporate lifecycle, from exploration and development projects to mature, operating businesses, and all segments of the capital structure. For more information about Denham Capital, visit www.denhamcapital.com.