Goldwind Secures Finance for Largest Wind Energy Project in Australia
21 December 2017
Goldwind has executed finance documents for project financing for construction of Australia’s largest wind farm, the Stockyard Hill Wind Farm, located in Western Victoria.
The National Australia Bank (NAB) led the nine-member domestic and international bank syndicate which includes three Australian banks, three Japanese banks, two European banks and one Chinese bank.
Alongside NAB, the bank syndicate consists of ABN AMRO, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (MUFG), Commonwealth Bank of Australia (CBA), Industrial and Commercial Bank of China (ICBC), Mizuho Bank, Societe Generale, Sumitomo Mitsui Banking Corporation (SMBC) and Westpac Banking Corporation.
‘The nearly AUD$700 million project financing for the Stockyard Hill Wind Farm is the result of significant effort from the banks, advisors and our team. This very competitive wind farm is being built as a result of the Australian Government’s successful Renewable Energy Target and the long-term Power Purchase Agreement (PPA) with Origin Energy.’ said Mr John Titchen, Managing Director of Goldwind Australia.
‘The project is progressing well, Goldwind will use its new generation GW3(s) turbines and a joint venture between SNC-Lavalin and WBHO has been appointed as the preferred contractor for the construction of the project balance of plant.’
‘We are very pleased to appoint the SNC-Lavalin WBHO Joint Venture as the preferred contractor. Preliminary work will commence on site soon and we anticipate full construction will be underway in the first quarter of 2018.’ said Mr Titchen.
Stockyard Hill Wind Farm, located near Beaufort and Skipton in Western Victoria, is set to be the largest wind farm (by capacity) in the southern hemisphere.