100 MW Hornsdale Wind Farm
Societe Generale supports another renewable energy project in Asia Pacific
Societe Generale (SG) and KfW IPEX-Bank provide an unprecedented long-term senior debt facility to support the 100 MW Hornsdale Wind Farm Stage 1 (“the Project”) located near Jamestown in South Australia.
Construction will begin immediately at Hornsdale with Siemens to supply and erect 32 wind turbines and complete associated project works. Siemens will also maintain the wind farm under a long-term maintenance contract. Once fully operational, the Project will provide approximately 20% of the power needs of the Australian Capital Territory (ACT) bringing it closer to its target of having 90% of its electricity supplied by renewable sources by 2020. This is also a landmark project with positive social impact as the Project will not only contribute to further development of renewable energy in Australia but also create new job opportunities in the ACT.
The 100 MW Hornsdale Wind Farm, owned by French renewable energy producer NEOEN, and leading international infrastructure investor John Laing reached financial close on 19 August 2015. SG acted as Joint Mandated Lead Arranger, Sole Hedge Provider, Facility Agent, Security Trustee, Documentation and Insurance Bank for this greenfield renewable energy project.
Not only does this Project align with Australian Capital Territory Government’s far-sighted renewable energy policy, but it also contributes to the country’s long-term sustainable development as the Hornsdale Wind Farm will be good for its economy, environment and the local community.