Acciona Energía has closed a syndicated loan worth AUS$453m (€263m) to finance the construction of the 408MWp Aldoga solar plant on the central coast of Queensland through the Green Investment Policy of Cesce, the Spanish Export Credit Agency.
The syndicated loan has been granted by four financial institutions – Banco Santander, BNP Paribas, ING and JP Morgan.
Banco Santander acts as agent with Cesce and ING as ESG coordinator.
Acciona Energía is responsible for the development, engineering, construction, management, operation and maintenance of the Aldoga solar plant, which will have 820,000 photovoltaic modules.
The total investment of the project is estimated at AUS$670m (€390m).
Work on the plant began at the end of 2023 and is scheduled to come into operation in mid-2026.
Once completed, it will generate enough clean electricity to power around 185,000 homes and avoid the emission of approximately 934,000 tonnes of CO₂ per year.
The operation and maintenance phase will last for 30 years, while the credit covered by Cesce will have a total term of 15 and a half years.
The project is expected to create a positive impact on local communities, as it includes the development of regenerative agriculture programmes for farmers in the area, with specific indicators to measure their impact and progress.
This is the second syndicated green loan in which Cesce supports Acciona Energía, in addition to the approximately €712m closed in 2023 to finance the construction of the MacIntyre Wind Farm, also in Australia.