Bankers’ renewables pipelines are filling up again, with Korean market leader Hanwha seeking a co-investor for its NSW portfolio.
Hanwha Energy Australia has tapped Azure Capital to find a like-minded investment partner for its shovel-ready solar and battery storage assets in New South Wales.Street Talk understand the Korean player has begun an investor search after nearly five years of work on its Australian assets. It wants to have a partner locked in by year-end, just in time for grid connections for the solar farms, sources said.
Potential partners have been told Hanwha expects Gregadoo to receive an offer to connect in the September quarter, followed by Jindera in the December quarter. Notice to proceed for both would be squared off by March. In short, it’s done the grunt work and is ready to build the farms with a partner. It flaunted Hanwha’s renewables credentials, which includes a 16 gigawatts global solar pipeline and in-house development expertise. And of course, tyrekickers were reminded with coal-fired electricity on its way out – think– fixed price contracts could help alleviate NSW’s exposure to volatile energy prices.
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