Deutsche Bank finances Foresight’s Kondinin Wind Farm in Australia

Deutsche Bank has supported the financial close of a 430 million Australian 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.

How is Deutsche Bank 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 430 million Australian dollars, an 86 million Australian dollar Contingent Instrument Facility and a 10 million Australian dollar Debt Service Reserve Facility, together with interest-rate swaps. This will support the project’s transition from development into construction.

What will Kondinin Wind Farm deliver?

Stage 1 of the project is expected to support approximately 145 direct jobs during construction and once operational, the wind farm is expected to generate enough electricity equivalent to the annual consumption of up to 70,000 Western Australian homes. Kondinin Wind Farm has been designated a Priority Project by the Western Australian Government, reflecting its contribution to critical infrastructure, regional employment and economic development in Western Australia.

The transaction demonstrates Deutsche 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. Rachel Chia, Head of Project Finance, APAC at Deutsche Bank

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