CIP Secures AUD 1.7bn Financing for 512MW Wind-Battery Project in Queensland

MELBOURNE, Australia -- Aug. 31, 2026 -- Copenhagen Infrastructure Partners has acquired the Gawara Baya hybrid wind and battery project in North Queensland on behalf of its fifth flagship fund, Copenhagen Infrastructure V. CIP reached financial close on a AUD 1.7 billion facility backed by 10 banks after securing all major approvals and taking a final investment decision. The project was bought from Australian developer Windlab. Construction has now started, with commercial operation targeted for 2030.

Gawara Baya combines 408MW of wind with 104MW of grid-forming storage

The project sits on Gugu Badhun Country south-west of Ingham and pairs a 408 MW onshore wind farm, built from 68 turbines, with a 104 MW grid-forming battery energy storage system. CIP said the combined output can supply clean power to up to 240,000 Australian homes and avoid 1.2 million tonnes of carbon emissions from the grid each year.

Stanwell and SmartestEnergy lock in long-term offtake terms

Gawara Baya has secured long-term energy offtake agreements with Stanwell and SmartestEnergy. The project also participates in the Australian Government's Capacity Investment Scheme, which CIP said provides revenue certainty as construction proceeds.

CIP projects AUD 200 million flowing into the regional Queensland economy

CIP expects the project to inject more than AUD 200 million into the regional Queensland economy through local employment, procurement and supply chain participation. The developer estimates up to 500 direct and indirect jobs will be created in the region during construction.

CIP partner cites capital deployment from its fifth flagship fund

Thomas Wibe Poulsen, Partner at CIP, said the acquisition allows the firm to deploy significant near-term capital from its fifth flagship fund to bring the project into operation. Yi-Hua Lu, also a Partner at CIP, said the company will work with the Gugu Badhun People and local communities as construction proceeds.

The AUD 1.7 billion financing package was arranged across 10 banks, according to CIP, ahead of construction activity commencing on site in North Queensland.