Palisade Investment Partners has acquired 100% interests in two development-stage renewable energy projects through its Australian platform, Intera Renewables.
In total, it adds 800MWac/3,200MWh of battery storage capacity to its pipeline, alongside up to 600MW of wind generation.
The Monogorilby Renewable Energy Park (MREP) was acquired from LP Renewable Projects (LPRP). Located approximately 250km northwest of Brisbane, the project comprises up to 600MW of wind generation co-located with a 400MWac/1,600MWh battery energy storage system (BESS). LPRP originated the project and began feasibility assessments in late 2022.
The Winton Renewable Energy Storage and Stability Terminal (WRESST) was acquired from Celero Infrastructure. The project is a standalone 400MWac/1,600MWh BESS located approximately 10km northeast of Benalla in Victoria, adjacent to the Glenrowan Terminal Station. Celero lodged the project’s development application in June 2026.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
WRESST’s 27-hectare site, adjacent to two existing solar PV power plants, is designed to connect to the Glenrowan Terminal Station via underground transmission cabling, an approach that Celero says avoids the need for new transmission lines.
No financial terms of the acquisitions have been disclosed.
Both projects were acquired partway through their development phase. LPRP and Celero will continue providing development services through to financial close, after which Palisade Integrated Management Services (PIMS) will take over asset management.
Simon Parbery, partner at Palisade, said the acquisitions mark the first large-scale wind and storage assets secured through Intera’s recently established Growth and Development team.
“These projects represent an important step in Intera’s growth strategy, and we look forward to working with LPRP and Celero to progress them for the benefit of our investors, host communities and Australia’s broader energy transition,” Parbery said.
Edward Mounsey, Intera’s head of growth and development, said Palisade’s track record, combined with Intera’s scale and management platform, offered developers a route to unlock value from their projects.
A shift from late-stage acquisitions to development-stage investment
The MREP and WRESST acquisitions mark a change in approach for Palisade, whose two previous large-scale battery storage investments were acquired much closer to or during construction.
Palisade’s first storage acquisition was the 500MWh Limestone Coast North BESS in South Australia, bought from Pacific Green in February 2025 for AU$460 million (US$326 million).
Its second was the 240MW/960MWh Summerfield BESS, acquired from Copenhagen Infrastructure Partners in April 2026, when construction was materially complete, and energisation was weeks away.
Intera’s investment strategy for MREP and WRESST is built on what Palisade describes as a selective, milestone-based growth model designed to avoid paying upfront for unrealised development value, with investors instead participating in value creation as development milestones are achieved.
Intera’s Growth and Development team was recruited from Squadron Energy, where it led a function responsible for establishing a 10GW project pipeline and progressing more than 1.2GW of renewable energy projects from development into delivery.
With the addition of MREP and WRESST, Palisade’s renewable energy portfolio, including operating and in-construction assets, totals approximately 2.5GW on a 100% ownership basis, with 2.2GW located in Australia.
Intera is the principal investment of Palisade’s Renewable Energy Fund (PREF), which holds a 50% interest in the platform alongside Palisade’s Diversified Infrastructure Fund (PDIF), Aware Super and HESTA.
Never miss an Australian energy storage story. Sign up for our Australia newsletter and get the latest project announcements, policy updates and market analysis delivered directly to you.
