New Zealand’s Infra Investor Infratil Creates Australia-Focused Renewables Platform

New Zealand-based infrastructure investor Infratil Limited has established a new renewable energy platform with exclusive focus on Australia – Mint Renewables Limited. Infratil announced that it is investing in Mint Renewables alongside the Commonwealth Superannuation Corporation (CSC). The investment will be managed on behalf of Infratil and CSC by Morrison & Co.

Infratil informed that it owns a 73% interest in Mint Renewables, with CSC owning the remaining 27%. The investment involves initial capital commitments of A$300 million, which is expected to be invested over the next 3 to 5 years. The new platform will add to Infratil’s RE portfolio and will look into investment in Australia with regards to the development of wind, solar PV and storage solutions.

Jason Boyes, CEO, Infratil, said, “Mint Renewables, the latest addition to our global renewables portfolio, will invest in the development of wind, solar PV, and storage solutions across Australia, and replicates the platform model of Tilt Renewables.” Infratil sold its 65.5% stake in Tilt last year for NZ$2 billion.

He added, “The establishment of Mint Renewables deepens shareholders’ exposure to the forecast surge in global demand for renewables over the next few decades, complementing our renewable energy platforms across the United States (Longroad), Europe (Galileo), Asia (Gurin Energy), as well as Manawa Energy in New Zealand.”

Infratil said that the board will be Chaired by Morrison & Co Operating Partner and former Tilt Renewables CEO, Deion Campbell. The new company has appointed Peter Cowling as Head of Australia. Alison Tarditi, Chief Investment Officer for CSC, said, “This is an opportunity for us to continue to deliver strong returns to our customers by accessing a more complex segment of the renewables sector, robustly, and to develop assets that are additive to the supply of renewable energy in Australia.”

Deion Campbell said it is exciting to re-enter the Australian renewables market with highly aligned shareholders, a flexible approach, deep experience, and very strong credentials.

“Infratil’s investment with CSC combines supportive long-term capital with significant local market knowledge and experience, built up during more than two decades of successful participation in the Australian energy sector. We are confident that, given the calibre of the team we have already secured, we can once again build a significant and leading Australian renewables development platform,” Campbell.