Project Diamond: Renewables group seeks to divest QLD pipeline

afr.com:

Ambitious Pan-Asian renewable energy developer Carbon Resilience is seeking to capitalise on the rush to secure early-stage renewable development assets, kicking off a sales process for its 14-gigawatt development portfolio in Queensland.

The Singapore-registered company has ICA Partners’ renewable specialists drumming up interest in its eight wind and solar sites, highlighting that the sites are “well positioned to take advantage of Queensland’s accelerating energy transition” and have the potential for “co-located Battery Energy Storage System assets”, in a one-page teaser seen by Street Talk.

Carbon Resilience has two giant Australian windfarm developments in its portfolio.  

All eight sites, located across central and northern Queensland, are in the pre-development phase. Two have had their development application pre-submissions approved, with target final investment decision dates set for 2025. The remaining have signed lease agreements, with dates set between 2026 and 2028, meaning the leaseholders have the right to investigate and begin a process to secure approval to build.

Sales flyers have hit the inboxes of the regular suspects – developers, offshore investors and infrastructure funds – with the indicative offer phase launching this week. Carbon Resilience is understood to have a preference to sell the assets as a set, rather than let bidders pick off individual sites.

Carbon Resilience was spotted trying to secure equity investors for its Queensland project in October, calling in Citi’s bankers in Hong Kong. At the time, there was scepticism about whether the developments would ever be developed, let alone on budget and/or on the proposed timeframes.

If successful, the auction would solidify a shift in