The Carlyle Group has announced the launch of independent energy infrastructure platform Revera Energy with a current portfolio housing projects carved out and acquired from Canadian renewables developer Amp Energy in Australia and the UK.
Carlyle said Revera will focus on developing, building, owning, and operating energy infrastructure projects, with an emphasis on renewable power, battery energy storage, and green hydrogen.
The platform’s Australian portfolio includes the first stage of the 250 MW Bungama battery project being constructed in South Australia. It is also advancing a gigawatt-scale green hydrogen project at Cape Hardy in that state, and there’s another 2.3 GW of solar, 1.4 GW of wind and 750 MW of battery energy storage in the development pipeline. It also owns the operating 85 MW Hillston and 30 MW Molong solar farms in New South Wales.
Its UK portfolio includes more than 1.2 GW of late-stage battery energy storage projects.
The projects have shifted to Revera after Carlyle, previously an investor in Amp’s projects, moved to 100% ownership after a recapitalisation agreed to earlier this year.
Carlyle Infrastructure Group Managing Director Richard Hoskins will serve as Revera’s chairman while Daniel Kim, former head of Amp in Australia, will lead the Australian arm. Ben Skinner will head the UK business.
“We are excited about the launch of Revera Energy and believe it marks a new growth phase for the platform’s dedicated staff and leadership team, and strengthens existing project commitments,” Hoskins said.
“We plan to leverage the expertise and resources of Carlyle’s global infrastructure platform to help accelerate Revera’s growth and to expand its portfolio of diversified energy projects.”
Kim said via social media he is “super excited” about the launch of Revera and “moving forward with a renewed commitment from Carlyle to build a high-quality energy transition platform that delivers for our people, our partners, our investors and the communities in which we operate.”
Revera sits in Carlyle’s global infrastructure platform which has more than $11.78 billion (USD 7.6 billion) under management.
The new business is expected to benefit from existing relationships with financing partners including Commonwealth Bank, Westpac, Nomura Infrastructure & Power, Natixis CIB, and Export Development Canada.
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