By: greenbank On: November 01, 2015 In: Comments: 0

CEFC committed AU$67 million as part of a five-year, AU$276 million senior secured debt financing to what will be Australia’s third largest wind farm, at Ararat in Victoria. The wind farm has secured a AU$276 million debt financing package through a financing consortium comprising Sumitomo Mitsui Banking Corporation (SMBC), Canada’s Export Credit Agency, Export Development Canada (EDC) and the CEFC. This is the first large-scale hybrid contracted and merchant wind farm in Australia. The Ararat project benefits from a power purchase agreement (PPA) with the Australian Capital Territory Government, guaranteeing the purchase of approximately 40 per cent of the energy produced at the site. The PPA was awarded under the ACT’s wind auction in February 2015.

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