Gamuda to Co-Develop 1.2 GW RE Portfolio in Tasmania

Gamuda Holdings Pty Ltd, a wholly-owned subsidiary of Malaysia’s Gamuda Berhad, has signed a landmark agreement with local Tasmanian landowners to co-develop a 1.2 gigawatt (GW) renewable energy portfolio in central Tasmania. The move marks Gamuda's first significant step into Australia’s growing renewable energy sector.

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The portfolio will include 600 megawatts (MW) of wind and solar generation alongside up to 600 MW of battery storage capacity. Key projects include the Weasel Solar Farm and Cellars Hill Wind Farm.

The initiative is being developed in partnership with the Downie Family, who have held pastoral land in Tasmania for over 200 years, and renewable energy developer Alternate Path.

In keeping with a landowner-led approach, the project planning has been carried out in close collaboration with the local community, government agencies, and environmental stakeholders, official statement notes. The developments aim to create regional jobs and offer energy rebates to households within a 12-kilometre radius of the sites.

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Equity Stake and Subject to Regulatory Approval

Gamuda will take an equity stake in the renewable energy portfolio to secure the development rights for current and future projects. The company will also deliver these projects through sole-source engineering, procurement, and construction (EPC) contracts.

Notably, the agreement is subject to clearance from Australia’s Foreign Investment Review Board. Once approved, this will set the company up with a pipeline of energy construction work through to 2029.

“This landmark deal strengthens our presence in Australia’s energy sector and aligns with our strategy to become an integrated renewable energy developer, builder, and owner,” said Jarred Hardman, Gamuda’s Chief Strategy and Growth Officer.

Gamuda has ramped up its energy sector capabilities over the past 18 months, investing in "shovel-ready" solar and wind projects while selectively pursuing EPC contracts in energy storage, transmission, and pumped hydro projects. The company is also engaged in Alinta Energy’s Oven Mountain pumped hydro project in New South Wales and Copenhagen Infrastructure Partners’ Capricornia Energy Hub in Queensland.

Timeline for Project Construction

Construction of the Weasel Solar Farm is expected to commence in the financial year 2027 (FY27), followed by the Cellars Hill Wind Farm in FY28. The projects will be subject to ongoing planning and development approvals.

This new venture adds to Gamuda’s renewable energy pipeline in Australia, which already includes the Goulburn River Solar Farm and Boulder Creek Wind Farm, representing a combined development value of USD 4.5 billion.