KfW IPEX-Bank: Financing for renewable energy projects in Australia

KfW IPEX-Bank, together with an international banking consortium, is providing financing for Bright Energy Investments (BEI). The funds will be used to refinance three existing renewable energy projects in the state of Western Australia:

• 183 MW Warradage wind farm with turbines from Vestas
• 35 MW Albany Grasmere wind farm with Enercon turbines
• 40 MW Greenough River photovoltaic park.

The refinancing improves the terms and conditions of the overall financing package and brings it in line with current conditions.

Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank: "With this financing, KfW IPEX-Bank underscores its commitment to advancing global energy transition projects. We are very pleased to have won BEI as a client, and thus to be able to contribute to a portfolio of renewable energy projects in Western Australia for the first time."

BEI General Manager Tom Frood: “The new agreement was a good outcome for all involved. I am looking forward to working with the new financiers and continuing the relationship with those that have carried through from the original debt agreements as BEI moves into a new phase of operations on these assets”.