In late 2015, an ADIA subsidiary formed a consortium with well-aligned partners – Spark Infrastructure (owned since December 2021 by a consortium consisting of KKR, OTPP and PSP), Utilities Trust of Australia (currently managed by Morrison), CDPQ and Wren House (who sold its stake in July 2020 to OMERS) – to acquire 100% of Transgrid via a government privatisation process.
Since privatisation, Transgrid has become Australia’s strongest performing electricity transmission network across a number of key customer metrics, including energy delivered, peak demand and consumers served.
The company has invested significantly in its network in recent years, including major interconnector upgrades between NSW and Queensland and Victoria and planning for new transmission infrastructure associated with Australia’s Renewable Energy Zones. Transgrid is currently building EnergyConnect, one of the largest transmission projects in Australia’s National Electricity Market (NEM) for a generation. Improving interconnections is a key tool for reducing the carbon footprint of electricity networks, while also improving the reliability of supply.
Transgrid is also advancing innovative renewable energy solutions through its recently formed renewable infrastructure and energy services business, Lumea. Lumea is focused on decarbonising and digitizing Australia by providing high-voltage network connection and bespoke energy and telecommunication solutions to renewable generators and high-energy users.
