Spanish company ACCIONA Energía has closed a syndicated financing deal worth $453 million Australian dollars (263 million euros) for the Aldoga solar farm on the central coast of Queensland, Australia.
Financing for the Aldoga solar plant
The Aldoga solar facility will be developed on the central coast of Queensland and will be one of the largest solar installations in Australia. This project will be aligned with the European sustainability taxonomy, promoting renewable energy generation, and is expected to have a positive impact on the local community. In addition, regenerative agriculture programs will be implemented for local farmers.
The project will have a capacity of 480 MWp through 820,000 photovoltaic modules . According to the company, the solar plant is estimated to generate enough electricity to supply 185,000 homes and will prevent the emission of approximately 934,000 tons of CO₂ annually. The operation and maintenance phase will extend for 30 years, while the loan term is 15.5 years.
This syndicated green loan adds to Cesce’s support for other projects, such as the MacIntyre Wind Farm in Australia, which received financing of approximately A$712 million in 2023, making it the largest transaction to date covered by Cesce through its Green Investment Policy.
Progress and developments in the construction of the Aldoga plant. Source: ACCIONA
The financial institutions involved in the syndicated loan include Banco Santander , BNP Paribas , ING , and JP Morgan . Banco Santander acted as agent for Cesce, and ING acted as coordinator for the ESG aspect of the project.
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Source and photo: ACCIONA
