David Di Pilla's HMC Capital (ASX:HMC) has won Victorian government approval for its controversial Kentbruck wind farm and renewable energy hub in the state's south-west, despite opposition from several environmental groups.
The 600-megawatt project, which involves installing 105 turbines near Nelson, comes with stricter conditions to protect endangered bird and bat species, and may require the removal of five turbines, the Allan Labor government said.
Originally developed by France's Neoen—later acquired by Brookfield—the Victorian portfolio was sold to HMC’s StorEnergy after the asset manager refocused its energy transition strategy on wind farms and battery storage.
The approval adds to growing momentum in the wind energy sector, with three projects reaching financial close just before Christmas.
However, analysts warn that far more investment and development will be needed for Australia to achieve its 82% renewable energy target by 2030.
At the time of reporting, HMC Capital's share price was $3.80.