Gamuda Bhd is purchasing a stake in the Hazelwood North Solar Farm and battery energy storage system in Victoria, Australia, expanding its renewable energy footprint in the region [1, 2, 3, 4]. The Hazelwood North project is a 450-megawatt hybrid solar and battery storage facility with approved development rights [1, 2, 3, 4]. It covers approximately 1,100 hectares in the Latrobe Valley and is expected to supply electricity to about 150,000 households [3, 4].
Construction is planned to begin in 2028, with commercial operations scheduled for 2030, contingent on a final investment decision and approval from the Foreign Investment Review Board [1, 2, 3, 4]. The project is also expected to create around 450 construction jobs, providing a significant boost to the local economy [3, 4].
Gamuda Renewable made the acquisition by purchasing stakes from Australian Manthos Investment Company [3, 4]. Gamuda Renewable stated this deal increases its assets in the Australian National Electricity Market to three projects and "deepens our commitment to owning and building large-scale renewable energy infrastructure in Australia's most populous energy market" [3].
Gamuda entered the Australian energy market in September 2024 and initially targeted developing 1 to 2 gigawatts of renewable assets by 2029. The company surpassed that goal in under two years and now aims to have 5 gigawatts of renewable energy capacity in Australia by 2031 across development, construction, and operation stages [3, 4].
Financial details of the transaction were not disclosed [1, 2, 3, 4]. Gamuda has said the Hazelwood North project is approved and on track to start construction in 2028 with commercial operations by 2030 [1].
