Tribe Infrastructure Group is seeking more debt or equity to fund Australia’s second large-scale energy-from-waste (EfW) plant to cover rising construction costs, according to sources.
The developer said in August it expects construction on the 29MW East Rockingham Resource Recovery Facility to start in Q4 but four sources familiar said additional mezzanine debt or equity is needed before the project reaches financial close.
Six banks including NAB and SMBC have lined up to lend senior debt and John Laing is providing equity alongside other partners including New Energy Corporation, the sources added.
The Clean Energy Finance Corporation (CEFC) is one that is interested in investing equity in the project or could lend mezzanine debt, two of the sources said.
The Australian Renewable Energy Agency (ARENA) is also expected to make a grant to the project, as previously reported.