The non-binding term sheet executed between the two parties will see InfraRed provide 100% of the equity required to construct the 104MW project.
New wind farm near Cooktown
Lakeland is a fully approved wind farm 60 kilometres southwest of Cooktown on the Cape York Peninsula, adjacent to the town of Lakeland.
Windlab’s CEO Roger Price said: “We are delighted to announce InfraRed Capital Partners as our equity partner in Lakeland Wind Farm.
“InfraRed has a strong track record in renewable energy investment both in Australia and around the world.”
The proposed investment is subject to completion of due diligence, execution of definitive documents, final selection of engineering procurement and construction contractors and financial close of the project.
Technology developed by CSIRO
Windlab is an Australian headquartered company originally formed to commercialise world-leading atmospheric modelling and wind energy prospecting technology developed by Australia’s CSIRO.
This proprietary technology is used to identify and develop high-quality wind farm sites reducing the risk and uncertainty associated with wind development.
Operating on three continents
The company operates and has offices across Australia, Southern Africa and North America.
More than 1,000MW of Windlab’s projects, across three continents are either in operation or under construction.
Windlab is developing more than 7,400MW of potential capacity around the world.
InfraRed Capital Partners operates worldwide from offices in London, Hong Kong, New York, Sydney and Seoul.
With around 130 professionals, they manage more than US$10 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
InfraRed has investment in more than 2GW of renewable energy capacity worldwide.