HMC Capital has received approval from the Victorian government for its Kentbruck wind farm and renewable energy hub in the state’s south-west. The 600-megawatt wind farm, involving the installation of 105 turbines near Nelson, has faced opposition from environmental groups. HMC Capital is an Australian-based alternative asset manager with a focus on real assets. Through its StorEnergy division, the company is focused on streamlining its energy transition ambitions to focus on wind farms and battery storage.
The approval includes stricter requirements to protect endangered bird and bat species. The Allan Labor government indicated the approval may necessitate the removal of up to five wind turbines to mitigate environmental impact. The Kentbruck project was originally developed by Neoen, a French company acquired by Brookfield. Brookfield divested the Victorian portfolio of development projects, including Kentbruck, to secure competition approval for its acquisition of Neoen.
The project is now held by HMC’s StorEnergy. This approval adds to the growing momentum in wind energy, with three projects reaching financial close before the Christmas break. Despite this progress, analysts suggest that significantly more investment and development are needed to achieve Australia’s ambitious target of 82 per cent renewable energy by 2030.
