Industry Funds Management (IFM) has revealed it has had strong interest in its search for buyers to take a stake in its Pacific Hydro business.
"It's early but it's been interesting that the interest has come from all parts of the globe. There's been domestic interest; interest from Europe, the Middle East and North America," IFM head of infrastructure and specialised funds Kyle Mangini said.
"It's been both financial investors and industry-based investors, which is very positive."
Mangini would not rule out superannuation fund interest.
"We have an open mind and we're open to having discussions with any nature of parties, but what we're really looking for is an investor who shares our view in the opportunities in the sector," he said.
AGL Energy, Origin Energy, QIC and the Future Fund were considering taking a stake in the renewable energy group, according to a recent report in The Australian Financial Review.
A QIC spokesperson would not comment on Pacific Hydro directly, but said QIC was always looking at infrastructure opportunities.
IFM paid $925 million for Pacific Hydro in 2005 and Mangini said the move to sell up to 50 per cent of the business was driven by a desire to accelerate the company's development pipeline.
"This is very much an intention to add some capital to the investment base," he said.
"This is a space where the investment opportunities have really improved dramatically over the last year or so. It's finally been recognised domestically and internationally that carbo is a real issue that needs to be addressed and that it creates investment opportunities."
Pacific Hydro has about 742 megawatts of wind and hydro assets that are either operating or under construction and Mangini said new renewable energy legislation in Australia would only serve to increase investment.
IFM said it hoped to have a deal struck by the end of the calendar year.
