Partners and CWP-owned group to finance Australian wind farm

30 January 2019 - 12:00 am UTC

A developer backed by Partners Group and CWP Renewables has held preliminary discussions with lenders about financing a 150 MW wind project in New South Wales, market sources told our sister publication SparkSpread.

The developer, Grassroots Renewable Energy Platform, is looking to arrange financing for the 150 MW Bango wind project, according to the sources.

Bango is one of eight projects that last year were awarded power purchase agreements by Australian government owned utility, Snowy Hydro. 

The project is expected to start construction at the end of the Australian financial year in June, according to the project’s website. 

Switzerland’s Partners’ Group and CWP Renewables announced the formation of Grassroots Renewable Energy Platform last May. 

Partners Group agreed to invest AUD 700m (USD 502m) in Grassroots in order to build out CWP’s entire renewable energy project portfolio, which encompasses large scale wind, solar and battery projects in New South Wales with a combined capacity of more than 1.3 GW. 

The portfolio includes Bango and the Crudine Ridge and Sapphire wind projects. 

ANZ advised on the sale and financing of Crudine Ridge and is also advising on adding battery storage and solar to Sapphire, as first reported by SparkSpread on 11 February.

Officials at ANZ and CWP did not return calls to their cell phones. 

A spokeswoman for Partners Group declined comment.

 

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