This is the first time that an Australian renewable energy asset has been completely financed in US Private Placement market.
NAB executive general manager for capital financing Steve Lambert said: "This Hallett Hill bond follows our $300m climate bond in December last year – another Australian first – and puts NAB firmly at the forefront of product innovation and environmental financing."
Wholly owned by Infrastructure Capital Group’s (ICG) Energy Infrastructure Trust, HH2 is estimated to generate 262 gigawatt hours of electricity, which is enough to power around 43,000 average Australian households for one year.
Operational since 2009, the 34- turbine farm has a total capacity of 71.4MW.
The funds will be utilised to fully refinance HH2’s existing syndicated bank facilities.
ICG executive director and Hallett Hill director Craig Whalen said: The 12-year debt issue provides a long-term funding solution for Hallett Hill Wind Farm which materially de-risks our investment. We are delighted with the outcome."
HH2’s financing follows the refinancing of Wattle Point Wind Farm (which is also wholly owned by EIT) in November 2014 by ICG through a long-term tranche provided by US investors.
Image: Hallett Hill 2 wind farm has a total capacity of 71.4MW. Photo: courtesy of Ian Sutton.
