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Macquarie Asset Management has launched Aula Energy, an onshore renewable energy business based in Australia.
Aula Energy aims to develop a long-term business targeting to construct and operate utility-scale wind, solar and integrated batteries across the Australian and New Zealand markets, Macquarie said in a news release Monday. The business will be led by Chad Hymas, who brings 20 years’ experience in the energy industry across strategy, growth, regulation, operations, and finance.
Macquarie said Aula Energy’s initial portfolio has an expected capacity of 4 gigawatts (GW) of planned projects spanning every state in Australia, with each asset having grid connection potential. The portfolio includes a series of early-stage, large-scale onshore wind farms in Western Australia totaling up to 2.4 GW, with Green Wind Renewables as the partner for the projects. Aula Energy’s expected portfolio includes developments in New South Wales, Victoria, South Australia and Tasmania, according to the release.
The company’s initial featured project is the Boulder Creek Wind Farm in central Queensland. Boulder Creek is located 40 km southwest of Rockhampton and approximately 3.1 miles (5 kilometers) west of Mount Morgan and has development approval for up to 60 turbines. The first stage of the project, targeted for completion in 2026, is expected to consist of 38 turbines with a generating capacity of 228 megawatts (MW) and will be able to power “power the equivalent of about 114,000 homes with renewable energy”, once fully operational, according to the Aula Energy website. The project has been granted approval by the Queensland Government and the Commonwealth Government under the Environment Protection and Biodiversity Conservation Act 1999. The project construction is expected to begin in late 2023.
“A powerful collaboration with partners will deliver on Aula Energy’s vision to be a leading green independent power producer in Australia and New Zealand that is trusted and committed to providing sustainable energy, energy for the future”, Hymas said. “Key to Aula Energy’s approach will be the long-term sustainable development of these assets. We believe it’s through partnerships that we can have the most impact. That’s why we will prioritize long-term relationships and meaningful collaboration in developing our projects”.
“Aula Energy offers Australian and international investors exposure to a unique and diversified portfolio at an important time for renewable energy markets in the region, in the context of increasing demand from commercial and industrial off-takers”, Lachlan Creswell, head of Macquarie Asset Management’s specialist Green Investments team for Australia and New Zealand, said. “The energy transition in Australia requires an acceleration in the deployment of new renewable generation. Macquarie Asset Management’s specialist Green Investments team is a global leader in decarbonization solutions, and we are excited to expand this work through Aula Energy”.
“The Aula Energy team’s experience, and long-term partnership approach to the creation and management of renewable energy projects will be underpinned by access to long-term capital”, Creswell added.
According to the release, Aula Energy joins Macquarie Asset Management’s suite of specialist businesses that have been created in response to growing demand from Australia and internationally for investment opportunities in diversified renewable portfolios, including Asian renewable energy platform Blue Leaf Energy, European solar energy developer Cero Generation, global specialist offshore wind portfolio company Corio Generation, and global battery storage platform Eku Energy.
SAF Investment
Earlier in the month, Macquarie announced an initial investment of up to $191.8 million (EUR 175 million) in sustainable aviation fuel (SAF) company SkyNRG via the Macquarie GIG Energy Transition Solutions (MGETS) Fund. The transaction is subject to certain closing conditions and the satisfaction of transaction terms.
The investment will support SkyNRG’s next phase of growth and help it achieve its ambitious goal to become a major SAF producer through the development and operation of SAF production facilities, Macquarie said in a separate news release. By 2030, SkyNRG aims to build dedicated SAF facilities in Europe and the USA, in cooperation with strategic offtake partners. To date, SkyNRG has secured partnerships with KLM Royal Dutch Airlines and Boeing with potential long-term commitments of up to $4.38 billion (EUR 4 billion) in SAF purchases.
“It is critical that SAF production capacity is developed now to enable the aviation industry to meet its net-zero goals”, SkyNRG CEO Philippe Lacamp said. “We are very proud that Macquarie has made this strategic investment in our business and are confident that they, with the ongoing support of our existing shareholders, will provide us with the resources and expertise we need to accelerate our growth journey towards becoming a major player in the SAF industry”.
“We have a track record for backing businesses working at the forefront of the energy transition. This is an exciting milestone for us, as our first SAF investment”, Mark Dooley, Global Head of Macquarie Asset Management’s Green Investments, said. “SkyNRG has been a pioneer in SAF, with an entrepreneurial spirit and a strong commercial focus. We look forward to collaborating with the SkyNRG team as they grow their business and advance solutions to decarbonize the aviation industry”.
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