Deal details
MacIntyre Wind Farm Pty Ltd - CESCE Covered Loan
Description
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.
Assets involved
Sustainable categories
- GL1: Renewable energy
- None
Companies involved
- Allens
- Credit Agricole CIB, CaixaBank, JP Morgan, ING Bank, Santander, HSBC
- HSBC, Credit Agricole CIB
- CESCE Credit Insurance
- Acciona
- JP Morgan, HSBC
- White & Case
- Santander
- Santander
Key information
MacIntyre Wind Farm Pty Ltd
741$m
30-12-2022
Renewables / Onshore wind
Australia
Project & Infrastructure Finance
Equipment for a project
Project finance
New finance
Tranche information
CESCE Covered Loan
741$
ECA-backed buyer credit
741$m
Australian Dollar - AUD
1,098,059,194
16.0 years
CESCE Credit Insurance
BBSY
-
Participant | role | ticket size |
---|---|---|
CaixaBank | MLA | 148$m |
Credit Agricole CIB | MLA | 87$m |
HSBC | MLA | 168$m |
ING Bank | MLA | 87$m |
JP Morgan | MLA | 101$m |
Santander | MLA | 148$m |