The US$65.1m project will provide energy to over 20,000 homes.
National Australia Bank Limited and Danish export credit agency, EKF Danmarks Eksportkredit sought Herbert Smith Freehills' help in the project financing for the development of the A$84.5 (US$65.1m) million Kiata Wind Farm project located 50km north west of Horsham, Victoria.
Developed by Windlab, construction of the 30MW, nine turbine wind farm is due to start in early 2017, with first production scheduled towards the end of 2017.
When operational, the project is expected to provide enough clean energy for more than 20,000 households each year. The project has secured investment from John Laing as the major equity partner, with the remainder of the project to be owned by Windlab and the project’s neighbouring property owners.
The successful close of Kiata Wind Farm marks another milestone for Victoria’s wind industry and is a significant step towards reducing the state’s carbon footprint.
The project has received support from the Victorian Government via the entry into an innovative supply agreement to supply large scale generation certificates (LGCs) to the Victorian Government.
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