Deutsche Bank has supported the financial close of a 300 million US dollar financing package for Foresight's approximately 130-megawatt (MW) Kondinin Wind Farm (Stage 1) in Western Australia.

The bank acted as Initial Financier and Hedge Provider on the transaction, which supports a renewable energy project expected to add up to 130 MW of generation capacity in the state.

How Deutsche Bank is supporting the project

Deutsche Bank is providing financing and interest-rate risk management for the project. The senior debt package comprises a Construction and Term Facility of up to USD 300 million, a USD 60 million Contingent Instrument Facility, and a USD 6.98 million Debt Service Reserve Facility, together with interest-rate swaps.

According to the bank, this will support the project's transition from development into construction.

Rachel Chia, Head of Project Finance, APAC at Deutsche Bank, said the transaction demonstrates the bank's experience in providing financing and risk-management solutions across different stages of large-scale infrastructure development.

"We are thrilled to support Kondinin Windfarm, a priority project in Western Australia, and Foresight Australia in its acquisition of the remaining interest in this project," she said.

What the wind farm will deliver

Stage 1 of the project is expected to support approximately 145 direct jobs during construction. Once operational, the wind farm is expected to generate enough electricity equivalent to the annual consumption of up to 70,000 Western Australian homes.

The Kondinin Wind Farm has been designated a Priority Project by the Western Australian Government, a designation that reflects its contribution to critical infrastructure, regional employment, and economic development in Western Australia.

Deutsche Bank's track record in Australian project finance

Deutsche Bank's Corporate Bank has been active in Australian project finance since 2019, providing tailored financing and risk management solutions for clients across the infrastructure and energy sectors.

The Kondinin transaction adds to the bank's portfolio of Australian energy financing work, which the bank says also includes support for Squadron Energy's renewable energy portfolio.

Foresight and the Kondinin Energy Project

Kondinin Energy, the project company, is wholly owned by Foresight Group through the Australian Renewable Income Fund (ARIF). ARIF invests in renewable energy infrastructure spanning wind, solar, and hydro assets.

The Kondinin Wind Farm forms part of Foresight's broader 370MW Kondinin Energy Project in Western Australia and complements ARIF's wider portfolio of renewable energy assets across the region.

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