John Laing buys into Tasmania project

AUSTRALIA: John Laing Investments has acquired a 49.8% share in the 112MW Granville Harbour project on the island of Tasmania from Palisade Investment Partners.

The Granville Harbour project will consist of 31 Vestas V126-3.6MW turbines

The project, already under construction, will consist of 31 Vestas V126-3.6MW turbines. It is due online by the end of 2019.

The remaining share of the project funding will be from Palisade’s renewable energy fund, with lending from financial firms MUFG, ANZ and Westpac.

Vestas announced the turbine purchase order in early July 2018, adding it would also be responsible for the civil and electrical works of the project, plus a 25-year servicing deal.

The turbines will be among the tallest on Tasmania, as they will be installed on 137-metre towers.

An 11km transmission line is also being built to connect the project in the west of the island to its grid.  

Palisade acquired the project from original developer Westcoast Wind in February 2018.

John Laing’s Asia-Pacific regional managing director, Justin Bailey, said it was the company’s first investment in Tasmania, following similar deals in wind and solar projects on the Australian mainland.