HMC Capital has announced it will update the market by February regarding its efforts to secure partners for its revised $1 billion energy transition initiatives. This follows the confirmation of the Victorian government’s recommendation to approve HMC’s Kentbruck green energy project located in south-west Victoria. HMC Capital is an Australian-based alternative asset manager with a focus on real estate, private equity, and energy transition investments. The company aims to deliver attractive risk-adjusted returns for its investors through active management and strategic capital deployment.
The asset manager stated that the capital partnering process is proceeding as planned and that it intends to provide an update on its progress before releasing its first-half results in February. The Victorian planning minister announced on Tuesday the approval of the 600-megawatt Kentbruck wind project, subject to certain conditions.
According to Gerard Dover, chief executive of HMC Energy Transition Platform, the Kentbruck project will significantly contribute to the clean energy generation capacity needed to satisfy the increasing demand from consumer, industrial, and artificial intelligence users in the coming years. The project aims to support the growing need for sustainable energy solutions in the region.
HMC Capital focuses on identifying and developing opportunities in the rapidly evolving energy landscape, and the Kentbruck project forms a key part of its strategy. In early morning trade, HMC’s shares experienced minimal change, trading at $3.80.
