GBN Member Transaction Database

TCCL financed 20 MW of solar power project in the state of Rajasthan. The project has been operational since February 2013. The power produced shall be purchased by a government owned company.

TCCL financed the development of 39.60 MW wind project being set up on group-captive basis in the state of Karnataka. The power produced shall be consumed by private sector companies and would help in the reduction of their carbon footprints.

TCCL provided long term debt for the development of 2.7 MW solar project at the premises of Kochi Metro Rail. The power produced shall be used for captive consumption. The project is being developed by a Canada based developer.

A disused Canberra office park is being transformed into a state-of-the-art energy efficient village. The LDK Greenway Seniors’ Living Village at Tuggeranong will be home to up to 450 people, creating a new model for sustainability for Australia’s rapidly growing retirement living and aged care sectors. The CEFC has committed $60 million in debt finance towards the project.

The Village will be owned and operated by LDK Healthcare, a joint venture between Cromwell Property Group and senior living operator Aspire Group. The Village will include more than 380 apartments and a range of self-contained community amenities, including a corner store and café, 130-seat auditorium, meeting and learning spaces, community and private dining areas, gardens, a chapel and car parking.

By repurposing existing building stock, the Village avoids the carbon and financial cost of demolition and new construction. The introduction of energy efficiency and renewable energy technologies will result in ongoing emissions reduction and energy savings. The sustainability standards are expected to more than halve the Village’s greenhouse gas emissions when compared to current building standards.

The construction of a 1 megawatt (MW) hydroelectric facility at the Upper Collinsville Dam on the Farmington River in Canton resumed construction after the closing of the construction loans.  The project is the result of significant expertise and innovation from many stakeholders, including the Town of Canton, The Provident Bank, the Department of Energy and Environmental Protection (DEEP), and the Connecticut Green Bank. Once operational, the facility is projected to generate an average 4.3 million kWh of clean energy and save 3.2 metric tons of CO2 emissions annually, while preserving a historic powerhouse, enhancing public safety features, and revitalizing aquatic habitat by allowing fish to swim upstream for spawning for the first time since 1867.

The dam is owned by the State of Connecticut and the water rights will be leased to Canton Hydro over a 30-year period. Utilizing the state’s Virtual Net Metering program, State of Connecticut owned buildings through DEEP will benefit from the lower cost renewable energy.

The final requirement for the project was securing financing, which was accomplished through a creative partnership structure. The total project cost is approximately $6.6 million with the Green Bank providing a $1.2 million subordinate loan and $500,000 limited guaranty to leverage an approximately $4.7 million senior loan from The Provident Bank through the U.S. Small Business Administration (SBA) 504 Loan program. Additional equity is being provided by Canton Hydro.

TCCL financed 1 MW under-construction solar rooftop power project being developed in the state of Andhra Pradesh. The power generated from the project will be consumed by the private sector company on the roof of which the plant is set-up.

TCCL refinanced an operational 40 MW wind power project in the state of Karnataka. The project was awarded under the tender of the government for long term purchase of power.

Macquarie’s Green Investment Group Limited (GIG) announced the acquisition of the 43 MW Hornamossen onshore wind farm located in Sweden’s Jönköping municipality. GIG will acquire 100 per cent of the project from Nordic wind power developer OX2, who have been developing the project since 2006. Consisting of 10 Siemens Gamesa 4.3 MW direct drive turbines, Hornamossen is expected to produce enough renewable electricity to displace an estimated 121 kt CO2e over its lifetime – the equivalent to removing approximately 1000 cars from the road every year of its operational life.

GIG structured and secured a long-term power purchase agreement (PPA) for the project with Swiss energy utility Axpo Nordic, part of the Swiss energy group Axpo. GIG has now sourced and structured PPAs for almost 1 GW of onshore wind capacity in Sweden, equivalent to over 10% of Sweden’s total onshore wind installed capacity.

This is GIG’s first partnership with OX2, an experienced developer in the Nordic region, who will continue to act as the project’s asset manager throughout construction and operations under a bespoke engineering, procurement and construction (EPC) contract. Construction is expected to commence in early July 2019 with commercial operations anticipated in Q4 2020.

The 200MW (AC) Kiamal Solar Farm, near Ouyen in north-west Victoria, is the first Australian project for major French renewable energy independent power producer Total Eren. Total Eren is the majority equity investor in Kiamal Solar Farm, while the CEFC has taken a A$51 million equity stake. The solar farm is also supported by a debt financing package of approximately A$250 million involving Australian and European banks ANZ, ING and Natixis.

On completion, Kiamal Solar Farm is expected to generate enough power for 133,500 homes and will abate 610,000 tonnes of carbon emissions annually. The project will install a 190MVAr synchronous condenser to improve grid strength in the region, facilitating a timely connection to the Victorian Transmission System, as well as strengthening the grid in north-western Victoria for the longer term. Synchronous condensers operate in a similar way to large electric motors and generators and enable the grid to resist large changes in power system frequency that arise from imbalances in supply and demand.

Total Eren is also working with TransGrid to deliver a new 220 kV Kiamal Terminal Station and Collector Substation, with the two 180MVA transformers designed and manufactured locally by Wilsons Transformers in Victoria.

Kiamal’s estimated output is fully contracted through a collection of long-term offtake agreements that involves energy companies Alinta and Flow Power, Zero Emissions Water – a consortium of 13 water authorities, and Mars Australia.

The patchwork of PPAs represent a new model that demonstrates a way forward for manufacturers, governments and other major commercial enterprises seeking ways of controlling their future energy costs. Total Eren is seeking to expand the Kiamal Solar Farm with a second stage and is exploring commercial options for battery storage up to an approved 270MW/1,080MWh.

NY Green Bank committed US$6.0 million to finance the construction and operation of a cluster of energy efficient robotic greenhouses developed by Agbotic, Inc. The Project is located in Sackets Harbor, NY and will grow certified organic produce for sale into local markets, while the Project’s energy efficiency measures and on-site generation are expected to reduce greenhouse gas emissions. This is NYGB’s first investment in a controlled environment agricultural asset as part of its ongoing efforts to create and expand new asset classes of sustainable infrastructure investments. The transaction creates an important precedent in the CEA sector and signals to the market that project financings are available to experienced CEA producers with high-quality assets.

NY Green Bank committed US$15.0 million to finance at least five energy efficiency or distributed generation projects in New York State. NYGB’s participation in this transaction provides a scalable financing model and establishes performance history for financing involving energy efficiency for medium sized, unrated commercial and institutional customers, a market segment that historically has had difficulty accessing capital for otherwise technically and economically feasible efficiency projects.

Sydney based innovator Morse Micro is developing Wi-Fi HaLow silicon chips that use a fraction of the power consumed by traditional Wi-Fi chips and offer long-range, secure Wi-Fi for Internet of Things technologies. The Wi-Fi HaLow chip uses the 900MHz radio band, which is lower than the 2.4GHz and 5GHz bands used by conventional Wi-Fi. It allows signals to reach further and pass through objects better using less power. It supports long-lasting battery life on devices which is an important feature for remote field-based applications.

Over 8,000 devices can be connected to a single access point, with data rates of many megabits-per-second. This enables use in a wide range of applications; beyond the traditional IoT use cases of smart homes and sensor networks to industrial controls, asset management, video, retail signs and displays.

The Clean Energy Innovation Fund invested A$1.8 million as part of the A$23.8 million Series A capital raising by Morse Micro in May 2019. The capital raising will help bring the Wi-FI HaLow chips to mass production and commercialisation.

The Collector Wind Farm in NSW, being developed by RATCH-Australia, will be one of the first in Australia to use the 4.2MW V117 Vestas turbines. In addition, Vestas will use innovative drone and 3D imaging technology to deliver routine blade maintenance and data collection.

The Collector Wind Farm is located along the Cullerin Range south-west of Goulburn, which has some of the windiest conditions in NSW. With 54 wind turbines, the project is expected to generate 528GWh of energy annually, enough to meet the needs of around 80,000 average homes. The CEFC has committed A$180 million to the development as sole debt financier to support the accelerated delivery of the innovative circa A$360 million project.

A RATCH-Australia Community Enhancement Fund will invest A$240,000 into local projects each year over the 30-year life of the project. The funds will be invested into the region via a pair of community trusts that have been structured with significant involvement of the local community.

TCCL financed 50MW solar power project in the state of Maharashtra. The project was awarded under the government tender and has been operational for about 1.5 years. The power is being supplied to government owned power distribution company.

TCCL financed an operational 42 MW solar power project in the state of Telangana. The project has been developed by a large Indian conglomerate. It has been operational since Nov 2017 and the power is being supplied to government owned power distribution company.

TCCL financed 15 MW under-construction solar power project being developed in the state of Karnataka. The power generated from the project shall be supplied to private sector companies for their own consumption.

TCCL financed 46MW Wind power project in the state of Andhra Pradesh. The project was awarded under the government tender and the power is being supplied to a government owned power distributor.

NY Green Bank provided a 24-month senior secured US$1.0 million bridge loan facility to SUN8 PDC, LLC, which is jointly owned by Distributed Sun LLC and EWT Americas Inc. Bridge Loan proceeds will finance project interconnection advanced payments to New York State Electric & Gas Corporation and Rochester Gas and Electric Corporate for community distributed generation solar projects. This transaction is expected to provide New York State  residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities.

Families in three regional NSW cities – Bathurst Dubbo and Orange – will benefit from 220 new highly energy efficient homes for low income families. A significant portion of existing Housing Plus dwellings in regional NSW will also undergo clean energy retrofits so that they require less energy to operate for day-to-day living.

The homes, which will have rooftop solar and energy efficiency technologies installed, will be built to a minimum 7-Star National Housing Energy Rating System (NatHERS) standard.This is effectively a 40 per cent improvement on the energy efficiency achieved in homes built to the current minimum standard. The types of technology that may be used to reach the NatHERS target include rooftop solar, battery installations, heat pumps, additional insulation, double glazing, smart meters, LED lighting, and energy efficient white goods.

The CEFC’s debt finance of up to A$95 million will help deliver the homes, which will be constructed by three local developers in the three cities over the next 18 months to three years. The CEFC’s finance will also contribute to the retrofit program, which Housing Plus will use to deliver energy efficiency solutions and rooftop solar installations across existing homes in its state-wide portfolio.

Award-winning Australian manufacturer Omni Tanker Holdings, which produces innovative carbon fibre tank containers, is expanding its business to meet international shipping demand. Omni Tanker is drawing on a A$4 million equity investment from the Clean Energy Innovation Fund to commercialise its technology in the bulk liquid transport equipment market. The Omni road tanker and the OmniTAINER®, a portable tank container (ISO tank), are designed for intermodal applications. Omni Tanker’s ISO standard carbon fibre tank containers are six times the strength of steel tankers, and more than 35 per cent lighter. They can transport a wide range of corrosive liquids and high purity chemicals.

The combination of light weight and exceptional chemical resistance of Omni Tanker’s carbon fibre tanks means transporting them requires less energy and produces lower emissions. Additionally, while traditional rubber lined stainless steel tanks are dedicated to one product and generally carry goods in only one direction, the chemical resistance and easy washout of the OmniTANK’s patented seamless thermoplastic interior means they can be two-way loaded, reducing asset down time and empty running, increasing the efficiency and capacity of transportation routes. The investment from the Clean Energy Innovation Fund is part of broader $7.9 million capital raising by Omni Tanker, which will substantially expand its NSW manufacturing plant and specialist workforce to increase production capacity.

Woolworths Group has issued the world’s first green bond by a supermarket business to fund its sustainability strategy. The A$400 million green bond launched in April 2019 is backed by a Green Bonds Framework and funds initiatives such as LED lighting, energy efficient fridges and solar panels as part of the retailer’s 2020 sustainability strategy. The CEFC secured a A$30 million tranche of the issuance. The CEFC’s investment in this bond enables the CEFC to continue its support for Australia’s emerging green bond market, actively monitor the secondary market for green bonds and gain useful insights into the emissions profile of Australia’s supermarkets. Woolworths Group includes well known Australian and New Zealand brands Woolworths, Countdown, Dan Murphy’s, BWS and Big W. It has over 3,000 stores, more than 200,000 employees. Since 2015 the group has reduced its emissions by 13 per cent. The Climate Bonds Initiative has certified the bonds and has developed a global low-carbon buildings criteria for supermarkets as a result of Woolworths’ commitment to green bonds. The Climate Bonds Initiative is an international, investor-focused not-for-profit organisation working to mobilise the $100 trillion bond market, for climate change solutions. The green bond, which sets new standards and expectations across the entire retail industry, creates a simple and highly transparent way for the private sector to invest in clean energy technologies. It provides a new asset class for institutional investors who have an increasing appetite for products that meet environmental, social and governance (ESG) requirements.

UK Climate Investments (UKCI) will underpin the development of a nationwide network of solar farms following an agreement to invest £30 million (INR 275 Crores) in one of India’s leading providers of renewable energy for commercial and industrial clients, CleanMax Solar. Founded in Mumbai in 2011, CleanMax Solar pioneered the ‘Energy Sale’ model in India through the development of distributed generation capacity across some the country’s largest cities. Partnering with commercial and industrial (C&I) clients to build new rooftop and ground-mounted solar generation projects, CleanMax Solar enables businesses to access clean, cheaper-than-grid electricity by removing the need for significant upfront capital investment. CleanMax Solar’s innovative business model has seen it quickly grow to become India’s top rooftop installer in 2018 and one of the country’s largest solar developers in the C&I market segment – operating 500 MW of distributed generation capacity across 340 sites. UKCI’s commitment will assist CleanMax Solar as it looks to scale its operations, providing it with the capital needed to expand its network of private solar farms across the country. UKCI is a joint venture between the Green Investment Group and the UK Government’s Department for Business, Energy and Industrial Strategy. UKCI is managed by Macquarie Infrastructure and Real Assets, the world’s largest infrastructure manager.

TCCL financed Energy Efficiency projects across 6 location of a leading Indian ESCO. These projects are being developed under the Opex model wherein the payment by the user shall be made from the energy savings generated by the ESCO.

TCCL financed 15 MW under-construction solar power project being developed in the state of Karnataka. The power generated from the project shall be supplied to private sector companies for their own consumption.

TCCL financed 25 MW under-construction solar power project being developed in the state of Karnataka. The power generated from the project shall be supplied to private sector companies for their own consumption.