Leading independent infrastructure manager Whitehelm Capital, on behalf of Sustainable Energy Infrastructure, has agreed to acquire an Australia-wide portfolio of regional, small-scale generation and compressed natural gas refuelling assets from AGL Energy Limited (“AGL”). Sustainable Energy Infrastructure is managed by Whitehelm Capital and owned by two leading Australian superannuation funds, MTAA Super and Commonwealth Bank Group Super.
The portfolio comprises a number of contracted cogeneration, biomass and biogas generation, gas generation, landfill generation, landfill flare facilities, and compressed natural gas refuelling assets. The assets are located across six states in Australia, are fully operational under long-term contracts, and diversified by geography, feedstock, technology, and customers. The management of the assets is undertaken by the existing, experienced team.
The investment by Sustainable Energy Infrastructure is consistent with Whitehelm Capital’s approach of investing in high quality, mid-market infrastructure assets that benefit from long-term contractual relationships with quality off-takers. Whitehelm has a long history of investing in sustainable and renewable energy infrastructure and has identified a pipeline of similar opportunities in Australia, developed Asia, and Europe.
Saji Anantakrishnan, Head of Australia & Asia, Whitehelm Capital said:
“The Sustainable Energy Infrastructure business is consistent with our focus on stable, mid-market infrastructure assets across Australia and developed Asia and we look forward to working with the experienced management team to grow the business.”
“This acquisition follows the successful refinancing of a Whitehelm-managed 104MW multi-fuel cogeneration facility in Western Australia and the expansion of our sustainable energy footprint across Australasia. While large trophy assets sold through competitive auctions are attracting very high prices, the mid-market continues to provide good investment opportunities for investors seeking stable returns from true infrastructure assets.”