Infrastructure
| Sector | Infrastructure |
| Sub-sector | Energy |
| Location | Australia |
Partners Group built CWP into a platform with five operating wind farms across the east coast of Australia, including Sapphire Wind Farm, one of the largest in New South Wales.2 They provide renewable energy to major Australian companies such as Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank and Snowy Hydro.
Squadron Energy (Squadron), part of the Tattarang group of companies, is a 100 per cent Australian owned and operated energy company.1
Macquarie executed a co-ordinated global marketing campaign, maximising the bidding field, which was critical given the large and complex nature of the CWP business, and provided investors early access to the CWP management team.
Macquarie also arranged a market-leading stapled portfolio debt package with highly competitive terms for the benefit of bidders which was utilised by Squadron. The portfolio debt staple was secured against multiple assets, had a flexible structure that included a construction facility and a corporate-style term facility with pre-agreed sizing metrics for the inclusion of future projects.
Outcome
It brings a significant portion of Australia’s renewable energy assets under local ownership and unlocks a pipeline of wind, battery and solar development sites.1
Beyond this, the acquisition is expected to create thousands of jobs and improve Australia’s access to reliable renewable energy. It will also see Squadron become one of Australia’s largest renewable energy investors, operators, and developers and bring its current operating portfolio to 1.1 gigawatts (GW).4
bringing renewable energy assets under local ownership1
Squadron’s current operating portfolio4
Squadron’s Australian renewable energy development pipeline4
Asia-Pacific Acquisition Deal of the Year - PFI Awards 2023
Renewables Acquisition of the Year, APAC - IJInvestor Awards 2023
Image credit: Squadron Energy and Sapphire Wind Farm
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