14 September 2026.
Palisade Investment Partners (Palisade) is pleased to announce the acquisition, through Intera Renewables (Intera), of 100% interests in two significant development-stage renewable energy projects: the Monogorilby Renewable Energy Park (Monogorilby or MREP) from LP Renewable Projects (LPRP), and the Winton Renewable Energy Storage and Stability Terminal (WRESST) from Celero Infrastructure (Celero).
MREP is being developed as an integrated renewable energy facility comprising up to 600MW of wind generation and a co-located 400MWac / 1,600MWh Battery Energy Storage System (BESS). Located in the Monogorilby locality, approximately 250km northwest of Brisbane, the project was originated by LPRP, which commenced initial feasibility assessments in late 2022.
WRESST is a 400MWac / 1,600MWh BESS development project located approximately 10km northeast of Benalla in Victoria, adjacent to the Glenrowan Terminal Station. The project was originated by Celero, which lodged its development application in June 2026.
The acquisitions were completed partway through the projects’ development phase and follow the recruitment of Intera’s market-leading Growth and Development team from Squadron Energy, where the team led the core development function responsible for establishing a 10GW project pipeline and successfully progressing more than 1.2GW of renewable energy projects from development into delivery.
Simon Parbery, Partner at Palisade, said: “We are pleased to announce the acquisition of the first two large-scale wind and storage development assets secured through Intera’s recently established Growth and Development team. These projects represent an important step in Intera’s growth strategy, and we look forward to working with LPRP and Celero to progress them for the benefit of our investors, host communities and Australia’s broader energy transition.”
Intera’s investment strategy is based on a selective, milestone-based growth model designed to avoid paying upfront for unrealised development value. Through co-development, Intera’s investors participate in the creation of project value as development milestones are achieved, while preserving the high operating margins and stable income yields generated by Intera’s existing highly contracted and geographically diverse operating portfolio.
Edward Mounsey, Intera’s Head of Growth and Development, said: “Palisade’s extensive track record in the sector, combined with Intera’s scale, established management platform, investor base and renewables development expertise, provides a compelling proposition for development partners seeking to unlock value from their projects. Palisade and its development partners are committed to responsible development and to working closely with host communities to maximise the long-term benefits and opportunities these projects can deliver.”
Palisade is an early investor in the clean energy sector and today manages and operates a diverse portfolio of renewable energy assets across Australia and the US. The acquisition of MREP and WRESST adds two significant development projects to Palisade’s existing operating and in-construction portfolio of 2.5GW on a 100% ownership basis, including 2.2GW in Australia, and reinforces Palisade’s position as one of Australia’s preeminent renewable energy investors.
LPRP and Celero will continue to provide development services for their respective projects through to financial close. Following financial close, Palisade’s construction and operational management services arm, Palisade Integrated Management Services (PIMS), will undertake asset management activities.
LP Renewable Projects Director, Llion Parry, said: “Monogorilby was selected for its strong wind resource, proximity to existing high-voltage transmission infrastructure and constructive engagement with local landowners and stakeholders. The project and broader district offer attractive fundamentals for renewable energy development, including strong wind resources, low residential density and proximity to the transmission network.”
Damien Sanford, Co-Founder and Partner at Celero Infrastructure, said: “Winton is a grid-forming battery designed to strengthen the stability and reliability of a central part of the Victorian power system. Importantly, it does so within the footprint of existing infrastructure, on a site bordered by the Hume Highway, solar farms and an existing electricity substation, and is expected to connect without requiring new transmission lines.”
Intera is the principal investment of Palisade’s Renewable Energy Fund (PREF), which holds a 50% interest in the platform alongside Palisade’s Diversified Infrastructure Fund (PDIF), Aware Super and HESTA. Intera is pursuing a multi-gigawatt investment strategy across the development, construction and operational phases of the renewable energy investment lifecycle, targeting mid-teen returns for investors through a combination of sustainable capital growth and high single-digit income yields.
Palisade was advised on both transactions by DLA Piper and Ekistica.
Download the Media Release here
For further information, please contact:
Intera Renewables
Edward Mounsey
Head of Growth and Development
Ph: +61 428 998 311
Edward.Mounsey@palisadeims.com.au
(Investor inquiries)
Palisade Investment Partners
Simon Parbery
Partner
Ph: +61 405 199 844
simon.parbery@palisadepartners.com.au