Whitehelm Capital, an independent infrastructure manager, on behalf of Sustainable Energy Infrastructure, has agreed to acquire an Australia-wide portfolio of regional, small-scale generation and compressed natural gas refueling assets from AGL Energy Limited. Sustainable Energy Infrastructure is managed by Whitehelm Capital and owned by two 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 refueling 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 investment by Sustainable Energy Infrastructure is consistent with Whitehelm Capital’s approach of investing in mid-market infrastructure assets that benefit from long-term contractual relationships with quality off-takers. Whitehelm has a history of investing in sustainable and renewable energy infrastructure and has identified a pipeline of similar opportunities in Australia, developed Asia and Europe.
The acquisition follows the refinancing of a Whitehelm-managed 104 megawatt multi-fuel cogeneration facility in Western Australia and the expansion of Whitehelm’s sustainable energy footprint across Australasia, said
Saji Anantakrishnan, head of Australia & Asia at Whitehelm Capital. “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.”
