RES doubles Australian renewables asset base with Blueshore buy

UK renewables large RES, which is growing plans for an enormous wind, photo voltaic and battery storage facility in Victoria, has doubled its renewables asset administration portfolio in Australia after the acquisition of Sydney agency, Blueshore.

Blueshore, which offers industrial, technical and monetary asset administration companies for photo voltaic and wind tasks, has constructed up a portfolio of 1.6GW since its launch in 2017 and become one of the largest unbiased asset managers in Australia.

Amongst its property it counts the Royalla Photo voltaic Farm, south of Canberra, which is small, but boasts the title of the first utility-scale photo voltaic farm to hook up with Australia’s Nationwide Electrical energy Market in 2014.

RES, the world’s largest unbiased renewable power developer, mentioned on Monday that its buy of Blueshore successfully doubled its asset administration portfolio in Australia to greater than 3GW.

The corporate, which final August unveiled plans for an enormous wind, photo voltaic and battery storage facility close to Stawell in western Victoria, mentioned the acquisition would additionally convey RES new capabilities, new buyer relationships and
permit it to diversify within the fast-growing Australian market.

“Each [companies] share a standard tradition and mission to offer worth to our purchasers by the supply of
modern services and products that go to the core of maximising the worth of working property,” mentioned Grant Harris, RES’s newly appointed director of asset administration for Asia Pacific.

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“Bringing collectively two extremely skilled groups on this dynamic and rising sector permits us to supply the broadest vary of options for the homeowners of renewable power tasks,” Harris mentioned.

“The transaction represents an thrilling step each for Blueshore and for the Australian renewable trade, with the mixed groups set to type a powerhouse of experience within the administration and optimisation of Australian renewable power property,” mentioned Blueshore founder Mike Rand.

For RES, the acquisition of Blueshore provides it greater than 9GW of operational wind, photo voltaic and storage tasks property throughout the globe.

In Australia, RES has a growth portfolio of greater than 4.7GW and an asset administration portfolio
of greater than 1.5GW, excluding the Blueshore property.

Sophie VorrathSophie Vorrath


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