MIRA links with Qatar investor for giant Stockyard Hill bid
Macquarie Group's asset management arm has pulled a rabbit out of the hat in its quest for country's biggest wind farm.
Street Talk understands Macquarie Infrastructure and Real Assets is working with Qatar based Nebras Power - a newcomer to Australia's energy sector - in a joint bid for the Stockyard Hill Wind Farm in Victoria.
Ex-Origin Energy executive David Baldwin, right, is understood to be involved in a bid for one of his former employer's old assets in his new role with Macquarie Group. Chris Hyde
It is understood the duo lobbed a bid for the Goldwind Australia-owned Stockyard Hill, which is up for sale in auction run by KPMG, and is seen as one of the lead contenders to buy the wind farm.
New Macquarie recruit David Baldwin - best known as Origin Enegy's former head of integrated gas - is said to be working on the bid, in conjunction with MIRA's Australian team.
Baldwin joined Macquarie as a senior managing director in late 2017, after missing out on the top job at Origin Energy.
Stockyard Hill is a former Origin Energy asset - and Origin has a long-running contract to buy the wind farm's output. The wind farm is expected to be worth more than $1 billion, including debt.
MIRA, which is a big investor in renewable energy projects globally and has a specialist Australian infrastructure fund, is understood to have the larger share of the consortium.
Sources said Macquarie Capital was advising MIRA, HSBC is tending to Nebras and King & Wood Mallesons is doing the legal work for the consortium.
A spokeswoman for MIRA declined to comment on Thursday.
Should the consortium strike a deal with Stockyard Hill's owner, Goldwind Australia, it would be Nebras Power's first foray into Australia's energy sector.
The company is based in Doha and owns seven power generating assets in four countries including in the Netherlands and the Middle East, and has been talking to bankers about finding an Australian investment.
It would be a coup for MIRA - which is well known for its global relationships - and come as something of a surprise for its rivals.
Stockyard has been owned by China's Goldwind since 2017, when the then development project was sold by Origin.
Barely one year later - and once the wind farm was operating - Goldwind hired KPMG to kick off the auction, as revealed by Street Talk. Stockyard Hill has 149 turbines and was designed to be large enough to power 340,000 homes a year.
[The wind farm is also funded by a $680 million loan, which was put together in late 2017 in a deal overseen by National Australia Bank.]
Sources said KPMG called for binding bids in the past fortnight, and the auction was set to be decided. It is not known whether there are any other bidders in the process.
Get a first look at tomorrow's headlines
Sign up to the Street Talk First Look newsletter
Latest Street Talk
AusSuper yanks Australian equities mandate from Fidelity
The sell orders have been flowing freely in some favourites of Fidelity International's Australian equities team.
Deutsche, UBS step up for National Plant & Equipment
There are two strong favourites to help float mining equipment company National Plant & Equipment.
MIRA links with Qatar investor for giant Stockyard Hill bid
Macquarie Group's asset management arm has surprised everyone in an auction for Australia's biggest wind farm.
Gold Fields sells 19.9 per cent stake on Red 5
Gold Fields Limited is seeking to offload a 19.9 per cent stake in WA gold producer Red 5.
Paradigm Biopharma seeks to raise $50 million
Paradigm Biopharmaceuticals was in the market on Thursday, seeking to raise $50 million.