ANNOUNCED AS TEMPORARYNo
On 9 December 2015, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 67 million (USD 48 million) to Ararat Wind Farm Pty Ltd for the development of a wind farm in Ararat, Victoria.
The objective of the senior secured debt funding is to speed up the construction of the third largest wind farm in the country which is expected to power around 120,000 homes each year.
In total, the project has secured AUD 276 million debt financing (circa USD 199 million).
Other investors are Sumitomo Mitsui Banking Corporation (SMBC), Canada’s Export Credit Agency and Export Development Canada (EDC).
he Ararat Wind Farm Pty Ltd is co-owned by a consortium of Renewable Energy Systems (RES), GE (NYSE: GE), Partners Group and OPTrust.
The statutory text, the Clean Energy Finance Act 2012, states that only solely or mainly Australian-based investments are eligible for these resources.
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