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Vena Energy Australia achieves financial close on the Wandoan South Solar Project

Vena Energy Australia achieves financial close on the Wandoan South Solar Project

Vena Energy, Asia-Pacific’s leading renewable energy company, announced today that it has reached financial close on the first stage of the 125 MW Wandoan South Solar Project, located in the local government area of Western Downs. The Project will be capable of producing up to 365 gigawatt hours of energy annually, or the equivalent of supplying clean renewable energy to approximately 60,000 averaged-sized Australian households.

Owen Sela, Head of Vena Energy Australia said that reaching financial close on such a significant project is instrumental to Vena Energy’s vision to support Australia’s energy transition.

“Climate change presents a real and ever-present threat to the environment, as well as our way of life, and Vena Energy is committed to accelerating the development of innovative renewable energy projects and generation of clean, sustainable energy in Australia,” Mr Sela said.

Even accounting for recent cost inflation trends, solar PV is still one of the most cost-competitive sources of energy in Australia today. With the Wandoan South Solar Project, Vena Energy continues to serve its customers’ demand for affordable and clean electricity whilst helping them decarbonise and contribute towards Australia’s net-zero targets.” he said.

Mr Sela said Wandoan South Solar Stage 1 will make a significant contribution to the local, regional, and national economy throughout its lifespan. With the commencement of construction earlier this year, Vena Energy anticipates a peak workforce of approximately 350 people as well as business opportunities for local companies within the region to support the construction of the project.

Vena Energy’s partner banks DBS, ING, Intesa Sanpaolo, OCBC Bank, and SMBC have agreed to provide debt and ancillary facilities to the 125 MW Wandoan South Solar Stage 1. The facilities meet the criteria of ‘Green Loan’ financing, which is aligned with Vena Energy’s Green Financing Framework.