Windlab Limited (ASX: WND) today announced that it has executed a non-binding term sheet with InfraRed Capital Partners to provide 100% of the equity required to construct the 104MW Lakeland Wind Farm project.

Lakeland Wind Farm is a fully approved wind farm located 60 km South-west of Cooktown on the Cape York Peninsula, adjacent to the town of Lakeland.

CEO of Windlab Limited, Roger Price, said: “We are delighted to announce InfraRed Capital Partners as our equity partner in Lakeland Wind Farm. InfraRed have a strong track record in renewable energy investment both in Australia and around the world.”

The proposed investment by InfraRed Capital Partners is subject to the completion of due diligence, execution of definitive documentation, final selection of engineering procurement and construction contractors and financial close of the project.

About InfraRed Capital Partners:

InfraRed Capital Partners operate worldwide from offices in London, Hong Kong, New York, Sydney and Seoul. With c.130 professionals they manage more than US$10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed has investment in more than 2GW of renewable energy capacity worldwide.