ANZA Power is born: I Squared Capital has launched a new Australia and New Zealand-focused renewable energy platform, calling it ANZA Power. To operate as an independent power producer (IPP), ANZA has secured a $300 million commitment from I Squared through its ISQ Growth Markets Infrastructure Fund II, to provide clean energy to commercial & industrial (C&I) customers. I Squared says ANZA was formed through the acquisition of a portfolio of solar hybrid and battery energy storage systems (BESS) to provide it with an immediate pipeline and contracted cash flows. These include 80 MW AC/320 MWh of solar hybrids in Victoria and New South Wales (NSW). These are secured under 20-year agreements with a tier 1 hyperscale customer. I Squared is also invested in Hexa Renewables, its pan-Asian renewables platform.
2 GW portfolio changes hands: Bison Energy Group has sold its Australia and New Zealand renewable energy development portfolio to I Squared Capital. This comprises close to 2 GW of development assets of solar, battery energy storage systems (BESS), and hybrid renewable energy projects across multiple sites transitioned to ‘successor platform under new ownership’ which likely referd to ANZA Power. Bison says it is part of the company’s capital rotation strategy and ongoing efforts to optimize its portfolio focus across regions.
60 MW online in the Philippines: ACEN, the renewable energy arm of the Philippines’ Ayala Group, has commissioned a 60 MW solar project in Northern Luzon. San Manuel Solar is the company’s maiden solar project in Pangasinan. The project was developed by Sinocalan Solar Power Corp., which was later acquired by ACEN in December 2022. The project is designed to generate close to 94 GWh annually and is connected to the National Grid Corporation of the Philippines (NGCP).
New solar and storage project in Queensland: Wooderson Solar Development Co Pty Ltd (WSD) is seeking environmental approval for a 450 MW solar farm co-located with a 450 MW DC-coupled BESS with storage capacity of up to 3,600 MWh, under Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act. The project is proposed to be located on up to 14 land parcels near Gladstone, Queensland. WSD is wholly owned by Central Queensland Power Development (CQP), which is a joint venture between RES Australia and Energy Estate. The duo is collaborating to create a portfolio of over 3 GW of solar, wind, and energy storage in central Queensland to support large energy consumers.
CPE buys solar and storage projects: CleanPeak Energy (CPE) has acquired 5 new solar and BESS sites in New South Wales, Australia, from Fortitude Renewables, representing a combined 25 MW of solar and 100 MWh of BESS capacity. Specifically, CPE has completed the acquisition of 4 projects at Ashley, Gunnedah, Dubbo, and Culcairn, while the project at Warialda will follow. Each of these projects has a development approval for a 5 MW solar farm and BESS. CPE says all the projects will enter construction in 2026 and come online by early 2027, when these will generate 90 GWh annually. CPE is backed by global investment firm KKR, which committed AUD 500 million to the company (see KKR Backs CleanPeak With AUD 500 Million For Distributed Energy).
Solar VPPA in New Zealand: New Zealand’s Lodestone Energy has signed a corporate solar virtual power purchase agreement (VPPA) with the local cold chain logistics group Hall’s Group Limited. It will supply electricity to Hall’s facilities from the 33 MW Pāmu Rā ki Whitianga Solar Farm, the 27.7 MW Clandeboye Solar Farm, which is currently under construction, and a new farm to be announced shortly.
