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International investment manager Innagreen last week secured US$150mil from global infrastructure asset manager Morrison & Co to acquire its first project, the 104 MW construction-ready Hilda Wind Farm in Canada.

The Morrison & Co investment opened Innagreen’s new utility-scale renewable energy project investment platform which aims to secure US$1bil of investment into wind, solar, storage projects across Australia, Canada and the United States within two years.

Hilda Wind Farm, being developed by RES, is scheduled to reach commercial operation in 2023.

Innagreen has a broader arrangement with RES, entering a Right of First Offer (RoFO) agreement with the renewable energy developer through which it intends “to transact on up to a third (c. 1GW) of RES’s planned c.4GW renewable energy pipeline in Australia, Canada and the U.S. over the next two years”.

Innagreen said the remaining approximately 3GW of RES’ development pipeline “will continue to be sold in the market to existing clients, who remain key to RES’ growth ambitions”.

There will be a plethora of projects for Innagreen to pick from to invest in Australia, with AltEnergy tracking 17 RES potential projects, representing almost 5 GW of capacity, in varying stages of development across the east coast and South Australia.

AltEnergy’s Renewable Radar also places RES Australia as the second largest developer of projects in Australia by number, behind Neoen with 25, and fifth largest solar/onshore wind developer by capacity.

The Innagreen deal continues Morrison & Co’s rapid expansion into the international renewable energy sector, no doubt accelerated by the appointment of former CEO of Tilt Renewables, Deion Campbell, to the company in February last year.