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IPE RA magazine May/June 2026
By Florence Chong2026-06-10T08:56:00+01:00
Malaysian-owned Gamuda Renewable has acquired a minority stake in a A$650m (€395m) solar farm and battery storage project in southeastern Australia.
Gamuda Renewable, which was formed in 2025 to invest in renewable projects in Australia, bought the stake in the 450MW Hazelwood North Solar Farm and Battery Energy Storage System (BESS) from Manthos Investments, based in La Trobe Valley in rural Victoria.
Subject to the achievement of key development milestones, Gamuda Renewable plans to increase its position into a majority stake, with a view to potentially securing 100% ownership.  
Construction is due to begin in 2028, with commercial operation expected in 2030, pending a final investment decision.
The asset increases Gamuda Renewables’ Australian portfolio to three assets across the National Electricity Market.
Jarred Hardman, chief strategy and development officer at Gamuda Renewables, said: “Hazelwood North marks a significant milestone for us – not only as our first Victorian asset, but as a project that captures exactly where the energy transition is heading.
“The opportunity to expand the project to include a data centre is something both Manthos and our team are genuinely excited about. Pairing large-scale renewable generation and storage with the digital infrastructure that increasingly depends on it is a compelling model, and one we look forward to progressing in the months ahead.”
George Labros, the landowner and project developer, said: “This project brings together Gamuda Renewables’ capabilities, the Valley’s energy assets, and an expanding data centre presence to create something truly significant – a sustained economic uplift for the Latrobe Valley and its surrounding communities, now and well into the future.”
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