Deutsche Bank finances largest windfarm in east Australia
Deutsche Bank’s APAC Corporate Bank closed its fifth Renewable Energy Project Finance deal in Australia in 2022, acting as Mandated Lead Arranger and Hedge Provider, in a syndicate of 9 banks, for the A$ 723m financing of Nebras Power Australia’s (Nebras) and Goldwind Australia’s 528MWp Stockyard Hill Wind Farm in Victoria, Australia.
This is the second transaction in the Australia's Renewable Energy Sector closed by Deutsche Bank in December, after financing Solar United Network’s (SUN Energy) Merredin 132MW Solar Farm in Western Australia, a week earlier.
Rachel Chia, Head of Project Finance, Corporate Bank in Asia Pacific: “We are thrilled to finance Stockyard Hill before year-end and continue our strong trajectory in the sustainable finance space in Australia. Tremendous efforts from all parties to get to financial close and we would like to extend our congratulations to the Nebras and Goldwind Australia teams, being advised by Lazard Australia. We look forward to further expanding our portfolio in 2023 in the region.”
Stockyard Hill is the largest operating windfarm in the east coast of Australia. The Project comprises of 149 Goldwind wind turbines and produces green electrons to power 425,000 homes annually.
This transaction demonstrates the bank’s expertise in providing a suite of products to meet its clients’ project financing requirements.