John Laing and Neoen refinance Aussie wind farm

28 January 2020 - 12:00 am UTC

John Laing and French developer Neoen have put in place new bank loans for all three stages of the Hornsdale wind farm.

John Laing and Neoen have refinanced all three stages of their 309 MW Hornsdale wind farm in South Australia. 

The AUD 650m (USD 439m) refinancing combined term loans with varying tenors, lenders’ counsel Herbert Smith Freehills (HSF) said in a statement.

Previously, the three stages were financed separately before construction began in 2015, 2016 and 2017, according to Inframation Deals.

Korea Development Bank, Mizuho Bank, Natixis and Societe Generale provided the loans. Investec and KfW were part of the original bank group along with Societe Generale, but did not participate in the latest refinancing.

Pricing was not disclosed for the transaction, which reached financial close on Friday (24 January), said a source close to the process.

French renewables developer Neoen is the majority owner of Hornsdale, holding between 70-80% of the equity in the various stages, while John Laing owns the balance.

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