Cubico achieves financial close for Wambo wind project

This will power over 200,000 homes.

Cubico Sustainable Investments has achieved financial close for the 252 megawatt (MW) Wambo Stage I and 254 MW Wambo Stage II wind farms in Queensland, Australia.

In a statement, the company said it secured two separate five-year project financing totalling approximately AU$650m. This was provided by a consortium of banks including ANZ, Crédit Agricole, ING, NAB, and Westpac. ANZ is also providing bank guarantee facilities, with NAB acting as the agent, security trustee, and account bank.

The Wambo wind farm is located near Jandowae in Queensland’s Western Downs region, and is being developed in a 50:50 joint venture with Stanwell Corporation. The latter will also serve as the offtaker for Cubico’s 50% share of the energy generated.

The two stages will provide over 500 MW of renewable energy that can energise 200,000 homes annually and support Queensland’s target of sourcing 80% of its electricity from renewable energy by 2035.

Stage I of the Wambo project  is set to commence operations in 2025, followed by Stage II in 2026, which will introduce an additional 41 turbines— featuring the tallest onshore turbines in Australia.

Cubico’s Australian portfolio includes a 2.5 gigawatt (GW) pipeline of wind, solar, and battery storage projects, along with over 3 GW of early-stage greenfield developments.