CEFC to provide USD 50m in funding to Macarthur wind farm

Jul 2, 2013 - The Clean Energy Finance Corp (CEFC) will provide USD 50 million (EUR 38.4m) in funding to the Macarthur wind farm in Australia in a transaction marking its first investment in the wind sector, the Sydney-based fund said on Monday.

The funds will be provided as part of a USD 529 million debt package arranged together with six banks. The sum will be used for refinancing Meridian Energy Ltd's stake in the project, CEFC added.

New Zealand state-run utility Meridian sold its 50% interest in the fully-operational 420-MW wind farm to Malaysia's Malakoff Corp Bhd in a AUD 130 million (USD 119m/EUR 91.7m) deal that closed in late June.

The Macarthur wind farm has 140 units of 3-MW V112 turbines and the capacity to power 220,000 average households in the state of Victoria annually. The other half in the JV is owned by Macarthur Wind Farm Pty Ltd, a unit of the plant's operator AGL Energy Ltd (ASX:AGK).

(USD 1.0 = EUR 0.768)

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