Deutsche Bank has announced its pivotal role in the $850 million non-recourse project financing of the Golden Plains Stage 2 Wind Farm in Victoria, Australia.
The bank will serve as the Initial Financier, Mandated Lead Arranger, and Initial Hedging Provider for this landmark renewable energy project.
Upon completion, the Golden Plains Wind Farm, encompassing both Stage 1 and Stage 2, will become the largest wind farm in the Southern Hemisphere, boasting a generating capacity of 1.3GW.
The project is set to produce over 4,000GWh of green energy annually, enough to power more than 750,000 homes and reduce carbon emissions by 4.5 million tonnes per year — equivalent to 3 per cent of Victoria’s total greenhouse gas emissions.
TagEnergy, an integrated renewable energy developer based in Lisbon, Portugal, is spearheading the project.
Founded in 2019, TagEnergy has quickly established itself as a key player in the renewable energy sector, with a diverse portfolio of assets under construction, operation, and development.
Bree Bailey, Director of Energy, Infrastructure & Renewables at Deutsche Bank, emphasised the strategic importance of the project: “The Golden Plains Stage 2 Wind Farm represents a strategic commitment for Deutsche Bank, aligning with Australia’s ambitious energy transition goals and facilitating the development of critical wind generation capacity.
“This transaction underscores our commitment to sustainable finance and highlights our ability to provide bespoke structured solutions in the renewable energy sector.”
Andrew Riggs, Managing Partner at TagEnergy, expressed enthusiasm about the project’s scale and impact: “We couldn’t be prouder to be working closely with our valued partners and backers on delivering the next phase of the biggest wind farm under construction anywhere in the world as we continue TagEnergy’s mission to speed the energy transition.”
This financing deal marks Deutsche Bank’s 14th renewable energy asset financed in Australia to date, reinforcing the bank’s commitment to sustainable financing solutions.
The bank’s Corporate Bank division offers a comprehensive suite of financing solutions across the infrastructure and energy markets, including project finance, acquisition finance, and corporate finance.
Deutsche Bank has been actively involved in Australian project financings since 2019, demonstrating its long-term commitment to supporting the country’s renewable energy sector and contributing to the global energy transition.
As Australia continues to pursue its ambitious clean energy goals, projects like the Golden Plains Wind Farm play a crucial role in reshaping the nation’s energy landscape and driving progress towards a more sustainable future.