Atlassian co-founder bids for renewable energy company Genex Power

A consortium that includes the co-founder of software company Atlassian has moved to acquire renewable energy company, as the suitors look to capitalise on Australia’s ambitious plan to rapidly grow zero emission generation.

The Skip Essential Infrastructure Fund, comprises Skip Capital – owned by Atlassian co-founder Scott Farquhar and his wife Kim Jackson, a former investment director at Hastings Funds Management – and US private equity firm Stonepeak, which is largely made up of former Macquarie Group executives.

Genex owns the operating 50MW Kidston solar project in Queensland, is partway through building a 250MW pumped storage hydro project by the same name and is developing a 150MW wind farm, among a handful of other projects. These type of projects have been long coveted by would-be buyers but the election of the Labor government has propelled renewable infrastructure companies into even greater prominence.

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