Vena Energy reaches fin close on 125-MW Aussie solar project
Solar panels in Queensland. Photo by: Sander van Dijk. License: Creative Commons. Attribution 2.0 Generic.
Singapore’s Vena Energy, a portfolio company of Global Infrastructure Partners, today said it has achieved financial close on the first stage of its 125-MW Wandoan South solar project in Queensland, Australia.
The renewable energy company has already initiated construction works on the project, which will form part of a larger site of up to 650 MW in size, covering close to 2,000 hectares of land. The huge scheme will require an investment of some AUD 650 million (USD 411.6m/EUR 416.9m) to be realised.
Financing for the first stage of the project was extended in the form of debt and ancillary facilities by DBS, ING, Intesa Sanpaolo, OCBC Bank and SMBC.
The Wandoan South Solar Stage 1 park will be installed in Queensland’s Western Downs region. When up and running, it is expected to be capable of generating up to 365 GWh of electricity annually, or enough to meet the demand of around 60,000 average local homes.
Once fully completed, the Wandoan South solar complex will produce power to supply up to 330,000 households.
In August, Vena Energy switched on a 100-MW/150-MWh battery in Queensland's Western Downs, touted as the largest one in the Aussie state.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.