Neoen secures $1.4b debt funding for Australian renewables projects
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The news: European renewables group Neoen has secured debt funding of $1.4 billion for its Australian renewable energy portfolio.
The numbers: The group said the $1.4 billion funding will help finance an additional 1.3 gigawatts (GW) of wind, solar and storage assets, with debt maturity of 5.5 years and seven years.
The context: The debt is being provided by a group of 11 major Australian and international lenders including ANZ, Bank of China, HSBC, ING, KfW IPEX-Bank, Mizuho, MUFG, SMBC, Societe Generale and Westpac.
It also includes a $100 million commitment from the federal government’s Clean Energy Finance Corporation.
The financing will enable Neoen to expand its operating assets in the country with the addition of three solar farms in New South Wales and a wind farm in Queensland. It will also finance three new assets including the 270 MW Western Downs Battery Stage 1 project in Queensland, the 440 MW Culcairn Solar Farm in NSW and the 341 MW Collie Battery Stage 2 project in Western Australia.
The source: Neoen media release
