Deutsche Bank has solidified its commitment to sustainable financing by acting as the Cornerstone Mandated Lead Arranger for a $258 million non-recourse project financing deal with Intera Renewables, a renewable energy platform managed by Palisade Investment Partners.
The landmark transaction marks Deutsche Bank’s first partnership with Intera and will support the company’s approximately 1 gigawatt portfolio of operational onshore wind and solar projects across Australia.
The financing will refinance a portion of Intera’s existing $1.3 billion portfolio debt, optimising the platform’s long-term capital structure and providing liquidity to pursue further growth opportunities in the region’s burgeoning renewable energy sector.
“We are pleased to play a significant role in the refinancing of Intera’s portfolio and showcase our capabilities in long-term financing,” said Rachel Chia, Deutsche Bank’s Head of Project Finance Asia Pacific.
“This demonstrates DB’s commitment to sustainable financing and solidifies our relationship with Palisade and Intera.”
For Intera’s parent Palisade, the deal represents a major milestone as the renewable energy platform continues to expand its footprint across Australia.
“The refinancing represents a major achievement for Intera and is a natural evolution of the platform’s capital structure following its establishment,” said Simon Parbery, Palisade Executive Director.
“We welcome Deutsche Bank into the platform as a strategic partner and appreciate their support in both de-risking Intera’s capital structure and pursuing our growth ambitions.”
The transaction underscores Deutsche Bank’s dedication to fostering the development of renewable energy projects that contribute to environmental sustainability and economic growth across the Asia-Pacific region.
Deutsche Bank’s Corporate Bank provides comprehensive administrative services to project, acquisition, corporate and other financing across infrastructure and energy markets globally.
