Infratil Establishes New Australian Renewable Energy Platform
New Zealand-based infrastructure investment company Infratil Limited which owns renewable energy, digital infrastructure, airports, and healthcare assets, has established Mint Renewables Limited, a new renewable energy platform focused on investments in Australia.
The New Zealand infrastructure investment company owns a 73% interest in the new entity while the Canberra-based Commonwealth Superannuation Corporation (CSC) owns the remaining 27%.
The investment involves initial capital commitments of A$300 million (Infratil’s share being A$219 million), which is expected to be invested over the next 3 to 5 years.
Infratil CEO Jason Boyes said that Mint Renewables, the latest addition to the Infratil global renewables portfolio, will invest in the development of wind, solar PV, and storage solutions across Australia, and replicates the platform model of Tilt Renewables. Infratil sold its 65.5% stake in Tilt last year for NZ$2 billion.
“The establishment of Mint Renewables deepens shareholders’ exposure to the forecast surge in global demand for renewables over the next few decades, complementing our renewable energy platforms across the United States (Longroad), Europe (Galileo), Asia (Gurin Energy), as well as Manawa Energy in New Zealand,” said Boyes.
“We have shown that a long-term approach to value creation can deliver outsized returns, and that is the objective with Mint Renewables. It is pleasing to be teaming up with CSC again, this time in their home market.”
Mint Renewables has appointed Peter Cowling as Head of Australia. Cowling has over two decades of experience in the sector, including leading business development and sales of more than 7GW of capacity for some of the largest global wind turbine manufacturers in Australia and New Zealand, and playing a leading role in renewable energy policy development.
He is also currently the Chair of the Clean Energy Council, Australia’s peak clean energy industry body.
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