Infrastructure Capital Group (ICG) is pleased to announce that it has acquired an additional 50% interest in Mumbida Wind Farm – a 55MW, 22 turbine wind farm located 40km southeast of Geraldton, Western Australia. ICG exercised pre-emptive rights to acquire this 50% from its partner Synergy, which takes Energy Infrastructure Trust’s total ownership to 100%.
Mumbida Wind Farm has been operating since May 2013 providing renewable energy to WA’s Water Corporation to offset the energy requirements of the Southern Seawater desalination plant near Bunbury. GE will continue to operate and maintain the wind farm under existing arrangements.
The investment reinforces EIT’s reputation as one of Australia’s pre-eminent renewable energy investors with renewable generation capacity of almost 350 MWs. Mumbida’s installed generating capacity is capable of producing enough energy to supply the equivalent of about 40,000 average households. Expansion of the wind farm is also possible with development and environmental approvals already obtained.
ICG’s Chair and EIT Portfolio Manager, Andrew Pickering commented “As one of Western Australia’s largest independent generators, we are delighted to have secured 100% of Mumbida Wind Farm. The government backed Offtake Agreement is aligned with EIT’s goal of providing investors with stable and long term investment returns. I would like to thank Synergy for their stewardship of this project and we hope to strengthen our partnership with them through our ongoing involvement in Western Australia.”