Golden Plains Wind Farm bags a win on the annual PFI Awards

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Image credit: Clean Energy Finance Corporation

Project Finance International (PFI) Awards named the Golden Plains Wind Farm Asia Pacific Renewables Deal of the Year.

The PFI Awards acknowledges excellence and innovation in global project finance transactions.

“This award is welcome recognition of the important role of Golden Plains Wind Farm in our net zero economy of the future and we congratulate everyone involve in this complex transaction. The wind farm will play a critical role in Australia’s clean energy grid of the future, underpinning our transition to net zero emissions. We are delighted this landmark project was able to draw in substantial new investors at a time when Australia is accelerating its new renewable ambitions.” Wind Investment Head Joe Harber said.

The Clean Energy Finance Corporation (CEFC) has committed up to $175 million towards the construction of Stage 1 of the Golden Plains Wind Farm, located close to Geelong. This is the CEFC’s single largest investment in a wind project, which also aims to achieve the project’s single largest emissions reduction.

The CEFC investment attracted $1.8 billion in private sector investment, including 100 per cent ownership from clean energy investor TagEnergy in its first Australian investment. Westpac, Bank of China, Mizuho, the Commonwealth Bank, and the Danish Credit Export Agency EKF are among the debt providers.

Stage 1 will consist of 122 wind turbines and will produce 756.4 MW of clean energy to replace coal-fired production. Over the project’s 30-year lifespan, the expected yearly emissions abatement is 770,000 tonnes of CO2-e, or more than 23 million tonnes of CO2-e.