Igneo Infrastructure Partners agrees to acquire majority stake in Lal Lal Wind Farms
Thursday 8 September 2022: Global infrastructure investment manager Igneo Infrastructure Partners (Igneo), has reached an agreement to acquire a 60% interest in Lal Lal Wind Farms Partnership (LLWF), from funds managed by InfraRed Infrastructure and from Macquarie’s Green Investment Group.
LLWF has a total capacity of 228 megawatts from two wind farms located approximately 20kms south east of Ballarat, Victoria: Yendon Wind Farm (144MW) and Elaine Wind Farm (84MW). The residual interest in LLWF will continue to be held by infrastructure investment manager Northleaf Capital Partners.
Both wind farms are fully operational, having reached practical completion in April, while revenue is underpinned by fixed price energy offtake arrangements and green certificate offtake arrangements with a variety of investment grade counterparties.
The transaction is the fifth deal signed by Igneo in the sector, via its Australian renewables investment platform, Atmos Renewables (Atmos).
Daniel Timms, Head of Asset Management Australia and New Zealand at Igneo said, “Igneo is playing a key role in Australia’s transition to renewable energy. The acquisition of a 60% interest in Lal Lal Wind Farms is another important step in that journey.
“It follows the agreement to acquire Elliott Green Power, announced in April this year, demonstrating the strong access to deal flow that the Atmos platform provides.”
Atmos has an existing portfolio of seven operating wind farms, five operating solar farms and three co-located battery storage development projects. Post-completion of the acquisition of the 60% interest in LLWF, Atmos will have >1GW of operating capacity by economic interest.
“The addition of the investment in Lal Lal Wind Farms supports our goal of becoming a market leading Australian renewables business that delivers sustained growth and value for our investors,” Mr Timms said.
Lachlan Creswell, Head of Green Investment Group at Macquarie Group, Australia and New Zealand said: “We are proud to have developed and commenced the commercial operations of Lal Lal Wind Farm, which is now making a meaningful contribution to renewable energy capacity in Victoria, equivalent to powering 95,000 homes. Igneo Infrastructure Partners is an experienced global renewable energy investor, and are ideally placed to oversee the next stage of Lal Lal’s operations.”
Transaction completion is expected by Q4 2022.
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About Igneo Infrastructure Partners
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in the utilities and transport sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.
Igneo manages US$14.6 bn worth of assets (as at 30 June 2022) on behalf of more than 120 investors around the world.
For more information, visit igneoip.com
About Atmos Renewables
Atmos Renewables is an owner of utility scale renewable energy assets across the Australian National Electricity Market. Founded by Igneo Infrastructure Partners in 2020, Atmos Renewables was established to invest in and support Australia’s transition to a decarbonised energy market. Atmos has interests in 12 operating wind and solar assets.
For more information, visit atmosrenewables.com.au
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GENERAL
Information on this site is provided by First Sentier Investors (US) LLC (“First Sentier Investors”), which is a member of MUFG, a global financial group (the “Group”). First Sentier Investors provides its services to or through wholly owned subsidiaries of the Group. Information provided on, and available from, this site does not constitute financial, insurance, legal, accounting or taxation advice, and shall not be relied upon by you in that regard. The information does not purport to be comprehensive, nor does it take into account the objectives and circumstances of the individual investor. You are responsible for ensuring that you are properly informed about any securities, taxation or other legislation or law that could affect your investment decision. You should obtain advice specific to your investment objectives, financial situation and particular needs before making any investment decision. This site shall not be used, or relied upon by you, as a substitute for your independent research or professional advice that may be provided to you in consultation with a First Sentier Investors representative and/or your other advisers.
You acknowledge and agree that past performance is not an indicator of future returns and that references to performance on this site are provided as historical benchmarks only.
First Sentier Investors’ products and services are available only in jurisdictions where they may be lawfully offered for sale or provided, and not all of First Sentier Investor’s products and services are available in all geographic regions. As such, certain products and services may not be available in your jurisdiction. You are responsible for complying with all relevant local, national and other laws. All First Sentier Investors’ products and services shall be subject to the terms and conditions of any applicable agreements. You agree that your use of this site shall be on an “as is” basis entirely at your risk. None of the Group, nor its affiliated companies, nor any officer, director, or employee thereof, nor any person associated with the creation of this site or its contents, shall be liable or responsible to any person for any harm, loss or damage that may arise in connection with your use of this site or the information contained thereon, including without limitation any direct, indirect, special, third party or consequential damages. Without limiting the foregoing, none of the Group, nor any of its affiliated companies shall be responsible for any detrimental reliance that you may place upon this site or its contents whatsoever.
Unless otherwise specifically stated, the material on this site is for information purposes only and nothing on this site:
- constitutes an offer of any financial product or an offer generally;
- constitutes an invitation to subscribe for a financial product, or
- amounts to a solicitation for any business in Australia, the United States or in any other place.
ACCURACY OF INFORMATION AND LIMITATION OF LIABILITY
The information contained on this site is subject to modification and update from time to time without notice. None of the Group, nor any of its affiliated companies warrants as to the accuracy, completeness or currency of information that is made available on or through this site.
None of the Group, nor any of its affiliated companies will be liable for or in connection with any harm, loss or damage that may arise in connection with your use of this site or the information contained thereon, including without limitation any direct, indirect, special, third party or consequential damages, arising from any inaccuracies, errors or omissions in information made available through this site (whether arising in contract, from negligence or otherwise). However, First Sentier Investors will endeavour to update the information on this site as soon as practicable when it becomes aware that material changes have occurred.
THE INVESTMENT RISK
Investments in the products described on this site are not investments, protected accounts, deposits or liabilities of the Group or any of its affiliated companies for the purpose of the Banking Act of 1959 of Australia and are subject to investment and other risks. Furthermore, investments in the products described on this site are not insured or guaranteed by the United States Federal Deposit Insurance Corporation or any other governmental agency of the United States, Australia or any other jurisdiction. Neither the Group nor any of its affiliated companies guarantee the repayment of capital or the performance of any of the funds or any particular rate of return from the fund, or any taxation consequences of, any investment in a fund which is made under the information available from this site.
COPYRIGHT
First Sentier Investors and related logos are trademarks registered in United States. Copyright in the information provided on, and available from this site is owned by First Sentier Investors and its affiliates. You may not alter or modify this information in any way. This information may be viewed on-line and may be reproduced in hard copy only for your personal reference. You may only use the trademarks and copyright material at this site with First Sentier Investor’s express permission and in accordance with First Sentier Investor’s directions from time to time. The use of, and creation of links to, this site are at the risk of the user and are subject to First Sentier Investor’s rights and the user's general legal obligations. First Sentier Investor’s Limited makes no warranty and accepts no liability in relation to use of the trademarks outside Australia. For further information about creating links to this site and about using the First Sentier Investor’ material, see our guidelines below or contact our office on +1 212 497 9980 or inquiries@firststateinvestments.com.
GUIDELINES
If you wish to create a link from your site to this site, in addition to the general terms and conditions you have read and agreed to above, you acknowledge and agree to the following.
If First Sentier Investor’s allows you to use its copyright material you may use it only in accordance with its directions from time to time, using only material supplied or approved by it, without any alteration and incorporating notices indicating First Sentier Investor’s ownership of copyright material.
First Sentier Investor’s may take legal action in respect of any use of the its name or copyright material, without the its permission, other than in accordance with the its directions or in breach of the Group 's rights or your general legal obligations.
PRIVACY
Hypertext links
Reference on this site to products or services of third parties does not mean that First Sentier Investors endorses or approves such products or services, and is provided only for convenience. First Sentier Investors neither endorses nor approves links to other web sites or third parties and their products or services, and is not responsible for any incompatibility, inconvenience, or contamination by computer viruses or worms, Trojan horses or any other destructive agent originating from these sites. Linking to other sites is at your own risk, and First Sentier Investors will not be held liable for any damage caused by such links.
Internet e-mails and other electronic communications
The confidentiality and security of transmission of e-mails and other electronic communications via the Internet are not guaranteed. E-mail and other electronic communications are not confidential and may be intercepted, lost, or even modified. First Sentier Investors is not responsible for any harm or damage that you or any other person may incur by transmitting via the Internet to First Sentier Investments e-mails or other electronic communications containing personal or confidential information, or by receiving from First Sentier Investors e-mails sent to you at your request. Please click the "I have read and agree to the above information" button below if you have read and understood this page and agree to abide by its contents, otherwise click "Cancel" to leave the website.
Privacy policy
First Sentier Investment (US) LLC, as a member of the Mitsubishi UFJ Financial Group (MUFG), a global financial group. MUFG Group respects your concerns about privacy. This Privacy Notice describes the types of personal information we obtain about users in connection with First Sentier Investments (US) LLC products and services that link to this Privacy Notice, how we may use the information, with whom we may share it, and the choices available to users regarding our use of the information. The Privacy Notice also describes the measures we take to safeguard the personal information and how individuals can contact us about our privacy practices. This Privacy Notice does not apply to other MUFG Group products and services that post separate privacy notices.
1. How is your personal data dealt with?
In the course of doing business we outsource certain tasks to third party administrators or agents. These third parties are bound by confidentiality arrangements when handling your personal data. Your personal data may also be used by us to:
establish your identity and assess applications for products and services
price and design our products and services
administer our products and services
manage our relationship with you
manage our risks and help identify and investigate illegal activity, such as fraud
contact you, for example if we suspect fraud on your account or need to tell you something important
conduct and improve our businesses and improve the customer experience
comply with our legal obligations and assist government and law enforcement agencies or regulators
identify and tell you about other products or services that we think may be of interest to you.
We may also collect, use, and exchange your information in other ways where permitted by law.
If you used a financial advisor in relation to your investment then details of your investments may also be provided to such financial advisor (or any replacement or additional advisor which you inform us of).
We aim to ensure that the personal information we retain about you is accurate, complete, and up to date. If you provide us with incomplete or inaccurate information, we may not be able to provide you with the products or services you are seeking.
2. What personal data do we collect?
First Sentier Investors (US) LLC collects personal data on investors, clients, intermediaries and business contacts via application forms, other First Sentier Investors (US) LLC forms, investment management agreements, correspondence, business cards, phone, fax, e-mail, and on-line. Personal data collected may include:
your name
your mailing address
your phone numbers
your e-mail address
your personal and financial information (e.g., income, net worth, marital status, etc.)
your social security or tax identification number
3. How we protect personal information
We maintain administrative, technical, and physical safeguards designed to protect personal information we obtain in connection with the Services against accidental, unlawful, or unauthorized destruction, loss, alteration, access, disclosure, or use.
4. Cookies
Cookies are small data files that are sent to and stored on your computer, smartphone or other device used to access the internet, whenever you visit a website. We use cookies to enable and improve certain functions on our website and gain feedback on how our website is used. If you choose to switch certain cookies off, it will affect how our website works.
Cookies are useful because they allow a website to recognize the device you are using. As First Sentier Investors (US) LLC and its associated companies are based in various jurisdictions and operate different websites for each regional business, we use cookies to store general information such as the region where you are based, the language in which the site is being viewed (for example English, Chinese), and the type of client you are. This helps us tailor our website to better suit your requirements. The cookies we use here are ‘session’ cookies and will be removed every time you leave our website.
We use analytics cookies to collect information on website activity (such as the number of users who visit our website, the date and time of visits, the number of pages viewed, navigation patterns, what country and what systems users have used to access the site and, when entering our website from another website, the address of that web site). This information on its own does not identify an individual but it does provide us with statistics that can be used to analyze and improve our website. These cookies are ‘session’ cookies.
The browsers of most computers, smartphones, and other web-enabled devices are usually set up to accept cookies. If your browser preferences allow it, you can configure your browser to accept all cookies, reject all cookies, or notify you when cookies are set. Each browser is different; check the "Help" menu of your browser to learn about how to change your cookie preferences.
Please remember that cookies are often used to enable and improve certain functions on our website. If you choose to switch certain cookies off, it will affect how our website works and certain functionality may not work. More information about cookies can be found on allaboutcookies.org.
5. Links to other web sites
Our web site may contain links to non-First Sentier Investors (US) LLC web sites. While such links are provided for your convenience, you should be aware that the information handling practices of the linked websites might not be the same as ours. You should review any privacy policies on those linked websites. We are not responsible for any linked websites.
6. Telephone services
We may monitor and record telephone calls for training and security purposes.
7. Data transfers
We may transfer the personal information we obtain about you to countries other than the country in which the personal information originally was collected, including the United States. Those countries may not have the same data protection laws as the country in which the information initially was provided. To the extent required by applicable law, when we transfer your personal information to recipients in other countries, we will take measures to protect that information.
8. Retention of personal information
To the extent permitted by applicable law, we retain personal information we obtain about you as long as (1) it is needed for the purposes for which we obtained it, in accordance with the provisions of this Privacy Notice or (2) we have another lawful basis for retaining that data beyond the period for which it is necessary to serve the original purpose for collecting the data.
9. Updating your information
It’s important that we have your correct details, such as your current address and telephone number. You can check or update your information by contacting your relationship manager. If the information we hold is inaccurate, incomplete or outdated, please inform us so that we can correct it. If we deny access to your personal information, we will, unless prevented by law or regulation, let you know why.
If you have any questions or would like further information on our privacy and information handling practices, please contact us.
10. Children’s personal information
We do not knowingly collect or solicit personal information from children under the age of 13. If you believe that a child under the age of 13 may have provided us with personal information, please contact us as specified in the How to Contact Us section of this Privacy Notice.
11. Updates to our Privacy Notice
This Privacy Notice may be updated periodically and without prior notice to you to reflect changes in our personal information practices. We will post or provide a notice to notify you of significant changes to our Privacy Notice and indicate at the top of the notice when it was most recently updated.
12. How to contact us
If you have any questions about this Privacy Notice, or if you would like us to update information we have about you or your preferences, please contact us by e-mail at inquiries@firststateinvestments.com, or by phone at (212) 497-9980.
You also may write to us at:
First Sentier Investors (US)
10 East 53rd Street, Floor 21
New York, NY 10022
United States of America