HMC Capital to update on $1B energy transition plans

HMC Capital (ASX:HMC) said it will provide a market update in February on efforts to secure partners for its scaled-back $1 billion energy transition ambitions, following the Victorian government’s conditional approval of its Kentbruck Wind Farm in south-west Victoria.

The 600-megawatt project, endorsed by the planning minister on Jan. 6, is expected to make a "significant" contribution to clean energy capacity, supporting rising demand from consumers, industry, and AI users, according to Gerard Dover, CEO of HMC’s Energy Transition Platform.

HMC said its capital-partnering process "remains on track," with a full update to come ahead of its first-half results. Shares were little changed at $3.80 in early trading.