Australia’s largest gas infrastructure business
has announced it will acquire the 80 MW Emu Downs wind farm in Western Australia and development rights for an adjacent 130 MW site for A$171m ($180m).
The acquisition is underpinned by a 20-year revenue agreement.
APA plans to raise A$300m through an institutional placement to fund both this acquisition and its planned organic expansion of its energy infrastructure portfolio across Australia.
Emu Downs wind farm is an established wind farm that has been in operation since 2006.
APA has secured long-term revenue agreements for the total output of Emu Downs – both the electricity and Renewable Energy Certificates – for the remaining operating life of the asset, which is approximately 20 years.
The acquisition also includes wind farm development rights for a further 130 MW on adjacent land.
O&M services will be provided by
under a comprehensive service and availability agreement.
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