Garrad Hassan advises Queensland Government on AUD 460 million wind farm sale to Transfield Services Infrastructure Limited.

Garrad Hassan (GH) advised the Queensland Government of Australia on the AUD 460 million sale of their five Australian wind farms including a wind farm development pipeline to Transfield Services Infrastructure Limited. The wind farms are owned by two Queensland Government Owned Corporations (GOC), Stanwell Corporation Limited and Tarong Energy Corporation.

The Queensland Government is selling their 177 MW wind farm portfolio to assist with the financing of the Queensland Government’s “Queensland Climate Change Fund”. The fund will invest in a range of future climate change initiatives.

Garrad Hassan acted as the Technical Advisor to Queensland Government’s Treasury Department. This transaction was run from Garrad Hassan’s Australian office in Melbourne and the team was headed by Graham White and David Millar with support from GH Australia and New Zealand staff.

Andrew Garrad,. CEO of the Garrad Hassan Group said: “We are delighted to have been able to support the Queensland Government in this significant deal which is a landmark for the Australian wind energy industry. It shows the strength of the international GH network through which we are able to support international deals with high level local expertise. This deal brings GH’s merger and acquisition (M and A) advisory role in 2007 to more than €11 billion.”

The wind farm assets being sold include Windy Hill Wind Farm near Ravenshoe in Queensland’s north, Emu Downs Wind Farm in Western Australia and Toora Wind Farm in the South Gippsland region of Victoria. The other operating wind farms are the Starfish Hill Wind Farm near Cape Jervis and the Mt Millar Wind Farm on the Eyre Peninsula, both in South Australia.