Partners Group to sell CWP Renewables, a major Australian renewable energy platform

Partners Group / Key word(s): Investment Partners Group to sell CWP Renewables, a major Australian renewable energy platform 07.12.2022 / 00:52 CET/CEST Sydney, Australia; 7 December 2022

• Partners Group built CWP from the ground up, transforming it into one of the largest renewable energy platforms in Australia
• The Platform has 1.1 GW of operational onshore wind assets, including Murra Warra I & II
• Renewable energy is a core thematic focus for Partners Group, which seeks to invest in next-generation infrastructure assets that benefit from decarbonization trends

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to sell CWP Renewables ("CWP" or "the Platform"), a vertically integrated renewable energy platform in Australia, to Squadron Wind Energy Assets.

CWP's renewable energy platform spans onshore wind and battery farms, and provides power to clients including Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank, and Snowy Hydro. It currently operates over 1.1 GW of wind assets including Sapphire Wind Farm, which has 75 turbines generating up to 270 MW, Murra Warra I & II (with a combined 435 MW), Bango Wind Farm (244 MW), and Crudine Ridge (142 MW). CWP's portfolio also includes a construction-ready 414 MW wind farm and a 30 MW battery project. The Platform has a project pipeline including 5 GW of near-medium term projects and an additional 15 GW at an early stage of development.

Partners Group developed CWP from the ground up in line with its long-term and thematic approach to investing in next-generation infrastructure assets that benefit from decarbonization trends. The firm invested in Sapphire Wind Farm, the first of the CWP assets to be constructed, in 2016. In building CWP, Partners Group successfully managed projects towards commercial operation dates, installed best-in-class teams to handle daily operations, arranged long-term power purchase agreements, and implemented a portfolio debt staple to replace individual asset specific project finance facilities, all with a view to the long-term sustainability of the Platform.