MacIntyre Wind Farm Pty Ltd

MacIntyre Wind Farm Pty Ltd - CESCE Covered Loan

Industry
Power/Onshore wind
Area of finance
Project & Infrastructure Finance
Region
Australasia
Countries
Australia

Deal Overview

CESCE covered loan for the construction of Mcintyre Wind Farm. The Project is a greenfield wind farm located in Queensland (Australia) with a capacity of 923.4 MW (the biggest wind farm planned for the southern hemisphere, as well as being one of the largest onshore wind farms in the world today),...

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CESCE covered loan for the construction of Mcintyre Wind Farm. The Project is a greenfield wind farm located in Queensland (Australia) with a capacity of 923.4 MW (the biggest wind farm planned for the southern hemisphere, as well as being one of the largest onshore wind farms in the world today), where Acciona Energia is responsible for its development, engineering, construction, management, operation, and maintenance. The total CAPEX investment of the Project is expected to be approx. AU$ 1,837 million.

The MacIntyre Wind Project is estimated to generate 2.869 GWh per year (3.108 hours) (P50) and during its lifetime, the wind farm is expected to lead to an avoidance of around 2.434 million tons of GHG emissions yearly. By greening Queensland's electricity mix, the MacIntyre Wind Project is anticipated to help the state meet its decarbonisation commitments and climate change mitigation strategies, as well as creating jobs locally.

The transaction was structured as a Green Loan in line with the EU Taxonomy and under the Spanish ECA (CESCE)’s new green investment policy – there has only been one other CESCE green investment policy guaranteed transaction executed in the market prior to this transaction.

The timeline under which the transaction was executed was rapid - c.2 months from initial documentation to signing at year-end of 2022.

This is factoring in the heavy due diligence involved in the OECD Category A-rated project, working with a third-party E&S consultant to ensure adequate measures are put in place to mitigate potential environmental and social risks for a project of this nature.

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Deal Volume
$ 741.1m
Financial Close
30 December 2022
Sources
Submitted by participant(s)

All Dealmakers

Sisie So

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Ravinder Kaur

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Richard Wilkins

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Carolina Anderez

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JUAN PUYOL

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ALVARO IÑIGUEZ

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Sebastian Lopez

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Hannah Martin

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Ana De Guzman

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Luis Javier Arellano Navarro

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Jesus Salinas

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Juan Juanma

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Sara Villamil

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Fernando Fdez de Alegria

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Han Sun LIM

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Carmen Vara

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Teresa Aguerri Loriente

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silvia de la Quintana

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Juan Carlos Calle

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Daniela Mohtadi

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Jaime Romeo

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Philip Y H WONG

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PILAR SANCHEZ D EIBARGUEN

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Rafael Montero

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Tranches


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Projects

923 MW MacIntyre Wind Farm Project

Greenfield
Onshore wind
Australasia
Australia
$ 1.4bn

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