Deutsche Bank provides project financing for the Merredin Solar Farm
Bank is Mandated Lead Arranger for the financing the solar farm in Western Australia
Deutsche Bank’s APAC Corporate Bank has closed its fourth Renewable Energy Project Finance deal this year in Australia, acting as Mandated Lead Arranger for the financing of Solar United Network’s (SUN Energy) 132 MW Merredin Solar Farm in Western Australia.
In addition, Deutsche Bank acted as the sole hedging provider, and LC Facility provider, demonstrating the bank’s expertise in providing a full suite of products to clients to help fulfil their project financing requirements.
Rachel Chia, Head of Project Finance, Corporate Bank in Asia Pacific: “We are glad to finance Merredin Solar Farm, and support SUN Energy in their expansion into Australia.This brings the volume of renewables projects that Deutsche Bank has financed in Australia in 2022, to close to 1GW and we are proud of this milestone.”
Merredin Solar Farm consists of 360,000 photovoltaic panels and generates enough energy to power approximately 42,000 Western Australian homes. The Project is contracted with BHP Billiton Nickel West Pty Ltd for 50%.
The Sponsor, SUN Energy is a solar company headquartered in Singapore and is targeting 2GWp by 2025 in APAC out of which 507MWp will be in Australia.