News

Lending & Credit

Staff Reporter

, New Zealand

Published:

6 months ago

115 view s

Photo by Derek Sutton on Unsplash

Aquila Clean Energy and Farm North Solar Farm secure financing for 4 New Zealand solar projects

The first project will be completed in 2025.

Aquila Clean Energy (ACE) APAC and Farm North Solar Farm have secured debt financing for their four solar power projects in New Zealand, with the first project with a 20.8-megawatt-peak capacity starting its construction.

In a statement, ACE APAC said the debt financing was secured from Westpac New Zealand Limited. Under its “Sustainable Lending Programme.”

“We are thrilled to achieve this milestone as the first overseas clean energy platform outside of Australia to reach portfolio financial close on a fully merchant and non-recourse basis in Aotearoa New Zealand,” said ACE APAC CEO Alexander Lenz.

ALSO READ: New Zealand pledges $25m to support ADB's Energy Transition Mechanism

“Achieving this is a testament to the quality we will be delivering in the country. Our ambition is to continue to support the country’s 100% renewables target to the benefit of all stakeholders involved, one project at a time,” he added.

The first project, Pukenui Solar Farm, located in the north of Kaitaia, is expected to be completed in 2025, whilst the remaining three projects will be announced later.

Follow the link for more news on

APAC energy transition investments

Also Read

Smart grid funding fell by 33% in in the first nine months of 2024

Tata Power, IndusInd Bank to offer solar financing for MSEs

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

MAS-backed coalition unveils framework for coal phase-out

It highlights the need to align with Just Transition principles and sustainable development goals.

2 days ago

Power generation’s rising importance in carbon neutrality

It currently dominates the carbon abatement cost spectrum.

2 days ago

Hydrogen to contribute 12% of global decarbonisation

There is potential for clean hydrogen to develop into a major market.

Environment

2 days ago

India’s lithium-ion battery storage demand to reach 54 GWh by 2027

Decarbonisation of grids is driving demand.

2 days ago

Exclusives

MGen may ‘mimic’ $4b solar project north of Manila

The power generator expects to be busy with Terra Solar in the next three years.

Power Utility

6 days ago

Coal-dependent ASEAN told to scale up RE generation

A regional power grid could help governments in their renewable energy transition.

Safety concerns cloud Hong Kong’s ‘green’ transport ambitions

Hydrogen fuel is volatile, highly flammable and expensive, an energy expert says.

Indonesia told to tap communities in clean energy transition

Solar and wind power managed by villages could generate 96 million jobs over 25 years.

Event News

Asian Power Awards 2024 Winner: Nepal Water and Energy Development Company (NWEDC)

NWEDC's EPIC process has set new benchmarks for community engagement and sustainable energy development in Nepal, winning the Hydro Power Project of the Year - Silver category at the Asian Power Awards 2024.