Palisade refinances debt for 148-MW Queensland solar farm

Ross River Solar Farm. Image by Palisade Investment Partners Limited (palisadepartners.com.au)

December 23 (Renewables Now) - Australian infrastructure manager Palisade Investment Partners Ltd on Wednesday said it has refinanced a AUD-125-million (USD 89.6m/EUR 79.3m), five-year debt facility for the 148-MW direct current (DC) Ross River solar farm in Queensland.

Existing lenders MUFG Bank Ltd, Westpac Banking Corp and the Australia and New Zealand Banking Group Ltd have amended and extended the loan. According to the announcement, the refinancing is on attractive pricing and terms for investors.

Located near Townsville, the solar project reached financial close in 2017 and has been in operation since late 2018. It is delivering 80% of its generation to EnergyAustralia under a long-term power purchase agreement (PPA).

Palisade holds a 100% stake in the Ross River solar farm through investments by Palisade’s Renewable Energy Fund (PREF) and direct mandate clients.

(AUD 1 = USD 0.717/EUR 0.635)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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