John Laing Investments has acquired a 49.8% share in the Granville Harbour project from Palisade Investment Partners. John Laing’s Asia-Pacific Regional Managing Director, Justin Bailey, said it was the company’s first investment in Tasmania, following similar deals in wind and solar projects on the Australian mainland.

Palisade Investment Partners will remain the long-term majority owner, providing the balance of funding for the $280 million project via its Palisade Renewable Energy Fund (PREF). Palisade will also continue as asset manager of the Project.