The investment will allow Flow Power to expand its Melbourne headquarters and establish a presence in Sydney, Adelaide and Brisbane. Flow Power was the first Australian retailer to offer corporate renewable power purchase agreements in the Australian market.
The prospective deal will grow the Australian fund manager’s portfolio in Spain, alongside the €2.8bn acquisition of OHL Concesiones which is expected to close soon.
The emerging Asia-focused fund manager has teamed up with clean energy developer Sunseap International to deliver one of the first large-scale solar projects in the country.
The UK asset manager, which recently set up a new energy division, says it has a further storage pipeline of over 200MW. The deal was clinched from its BSIF fund, which reached a £150m first close last June, halfway to its £300m target.
Having emerged as the preferred bidder in late January, the LINXS consortium will now wait for the city council to approve its proposal for the $4.5bn people mover PPP.
The German group will join Meridiam as an owner of the NeuConnect project, which recently received regulatory approval.
The firm buys 50% of the Canadian company and will help develop its $150m pipeline of projects in Vancouver and Toronto.
The German energy company buys a 37.5% stake in the partnership’s three projects, which obtained environmental approvals last week.
The increase to a 31.4% ownership is the fourth time in less than a year the Canadian pension fund has boosted its share in the company.
The Singapore-based developer is committed to building over $795m of new projects in the next two-to-three years. It was recently acquired by a consortium of led by GIP for $5bn, the largest renewables deal to date.
Evolution II’s maiden deal comes ahead of an expected $250m final close September this year.
The new offer, alongside three Danish pension funds, has been approved days after a first attempt was deemed ‘not in the best interest’ of shareholders.
The deal is the sixth investment for GIO II, ending Macquarie’s almost 10-year interest in the French oil storage company.
The potential sale comes after the public transport operator negotiated new contracts with Auckland and Wellington worth a combined $954m.
The transport and renewables acquisitions are being made through the manager’s record-breaking $15.8bn third infrastructure fund.