Palisade Investment Partners (Palisade) is pleased to welcome Edward Mounsey, Michael Middleton and Matthew Flower to Intera Renewables’ (Intera) newly established Growth and Development division.
Edward, Michael and Matthew join Intera from Squadron Energy (which acquired CWP Renewables in 2022), where they led the core development function responsible for the establishment of a 10-gigawatt pipeline of projects and the successful development into delivery of over 1.7 gigawatts of renewables investments.
Established in March 2023, Intera is a large-scale renewable energy platform aggregating five of Palisade’s operating renewables assets for a combined installed capacity of over 1gigawatt, under a common ownership, governance, management and financing structure. Intera is Palisade’s primary clean energy investment vehicle and has a mandate to invest in operating, construction and development phase renewables and storage assets in Australia.
Roger Lloyd, CEO of Palisade said: “We are delighted to welcome Ed, Mike and Matt to the Intera team. Through these key hires, Intera gains access to nearly fifty years of collective sector knowledge and experience in renewables development. At a time of unprecedented momentum within the Australian energy sector, this unique experience will be fundamental in supporting both Intera’s growth ambitions in new-build renewables, and the significant investment in renewable energy generation and storage required to achieve Australia’s ambitious net zero targets”.
Intera has a multi-gigawatt investment target over the next five years, diversified across the development, construction and operational phases of the renewables investment lifecycle. The Intera Growth and Development team will be responsible for Intera’s development phase investment activities and will focus on value creation through the establishment of a broad-base development portfolio through co-development arrangements with reputable development partners, who will provide access to high-quality and strategically valuable renewables sites with a clear path to realisation.
Simon Parbery, Executive Director at Palisade said: “Palisade’s extensive track record in the sector, combined with Intera’s material scale, existing management structure, investor base and now market leading expertise in renewables development, brings significant benefits to potential development partners seeking to unlock value within their development assets.
Intera’s investment strategy is based on an organic growth model and does not involve acquiring unrealised project value. By pursuing a milestone-based investment approach through co-development, Intera’s investors acquire intrinsic platform value only when it is realised, while at the same time preserving Intera’s high operating margins and stable income yields delivered by its existing highly contracted and geographically diverse operating portfolio”.
Intera’s strategy focuses on long-term value creation by developing and constructing new renewable energy projects and acquiring high-quality operating assets. Through this strategy, Intera’s investors gain access to mid-teen returns, comprised of sustainable capital growth and stable high-single-digit income returns.
Intera is currently open to new commitments and can be accessed via Palisade’s Renewable Energy Fund (PREF). PREF has a 50% ownership interest in Intera alongside Palisade’s Diversified Infrastructure Fund (PDIF) and co-investors and provides investors with diversified exposure to assets across locations, technologies and offtakers. PREF was established in 2016, with a total return since inception to 30 September 2024 of 12.8% per annum, including 7.3% income.
Intera’s assets include Hallett 1 Wind Farm (South Australia), Snowtown 2 Wind Farm (South Australia), Granville Harbour Wind Farm (Tasmania), Macarthur Wind Farm (Victoria) and Ross River Solar Farm (Queensland).
