Months after a prior sale to a Chinese buyer fell over, Lightsource bp has finally found a home for its Australian solar portfolio.

The buyer is Aula Energy, a Macquarie Asset Management onshore renewables business launched in 2023 to develop, build and operate wind, solar and battery projects across Aus/NZ.

The portfolio spans five operational solar farms — West Wyalong, Wunghnu, Woolooga, Wellington and Wellington North — totalling 1,037MW across New South Wales, Queensland and Victoria.

Together, they generate around 2,230GWh of low-carbon energy annually, enough to power more than 380,000 households.

Aula also secured options to develop up to 800MW of co-located battery energy storage systems across the portfolio, subject to regulatory approval.

The original sale, which was struck with Hong Kong-listed Beijing Energy International Holding in December 2023 at an $813m equity value, never closed. FIRB approval was delayed, and both parties walked away.

This time, it got across the line.

For Aula, the acquisition is a maturity milestone. Until now, the business had only projects under construction or in development. These five solar farms give it its first operating fleet across the National Electricity Market.

For Lightsource bp, the sale reflects a deliberate strategic shift. Across Asia-Pacific, surging demand from data centres and AI-driven load is reshaping the energy mix. And Lightsource bp is repositioning to meet it — pivoting toward hybrid projects that combine onshore solar and wind with battery storage.

Source: Ashurst, KWM