Santander prepares to launch 107-MW Aussie wind park sale - report

Banco Santander SA (BME:SAN) and its adviser ANZ Banking Group are getting ready to launch an auction for the bank’s 90% interest in the 106.8-MW Taralga wind park in Australia, the Australian Financial Review (AFR) said on Tuesday.

Bidders are now signing confidentiality agreements as they expect to receive information memorandums (IMs) next week, according to the report. First round offers are seen to be made during the first week of October, while the sale process should be concluded in December.

Banco Santander hopes the sale to fetch between AUD 250 million (USD 180m/EUR 156m) and AUD 300 million, the AFR said, adding that the wind farm will be offered with its existing long-term debt package.

Infrastructure Capital Group, Whitehelm Capital and AMP Capital are said to be among the interested parties. Foreign renewable energy companies are also expected to take part in the tender, the business newspaper reported.

The Taralga wind farm, located near New South Wales state’s city of Goulburn, has a 10-year power purchase agreement (PPA) with local utility EnergyAustralia. The first 51 wind turbines of the complex, in which US-based BlueNRGY LLC owns the remaining 10% stake, were switched on in December 2014.

(AUD 1.0 = USD 0.720/EUR 0.624)

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