Financial close for second stage of Australian wind farm

French company Neoen, Australian partner Megawatt Capital and infrastructure investor John Laing, have reached financial close for the second stage-100MW Hornsdale Wind Farm project near Jamestown in South Australia. Baker & McKenzie has advised Neoen on the transaction.

Neoen has secured a long-term debt facility from KFW IPEX-Bank GmbH and Societe Generale. Baker & McKenzie has acted as financial advisor for Neoen in the process.

It has also been awarded a 20-year contract to supply energy to the (Australian Capital Territory) ACT, with the second stage achieving a record low price of $77 per MWh.

In early January we reported that ACT had awarded the Hornsdale​ project a feed-in tariff for 100 megawatts of the available 200 megawatts in its second wind reverse-auction.

Siemens will supply and erect 32 wind turbines, in addition to the first stage of the project, which also comprises 32 turbines and is well advanced through construction. Siemens will also complete associated project works and will maintain the wind farm under a long-term maintenance contract.

Baker & McKenzie lead partner, Paul Curnow stated:

“The financing of this second stage of the project is very encouraging. The Hornsdale Wind farm has been twice awarded a 20-year contract to supply green energy to the ACT, with the second stage achieving a record low price of CAD77 per MWh.”