ACCIONA obtains AUD 453M financing for 480 MW PV farm in Queensland

Madrid headquartered ACCIONA Energía has secured an AUD 453 million (€263 million (~$283.51 million)) syndicated loan for the Aldoga Solar Farm in central Queensland. The loan was arranged through Cesce under its Green Investment Policy. The financing supported the construction of the 480 MW solar farm. The project included 820,000 solar PV panels and regenerative agriculture programs for local farmers. The total project cost was AUD 670 million (€390 million (~$419.9 million)). Construction started in late 2023 and was expected to be ready by mid-2026. Once completed, it would provide electricity to 185,000 homes and reduce 934,000 tonnes of CO2 every year.The maintenance phase was planned to last 30 years. The loan had a term of 15.5 years. This was Cesce’s second syndicated green loan for ACCIONA Energía. The loan was provided by Banco Santander, BNP Paribas, ING, and J.P. Morgan. Banco Santander acted as Cesce Agent. ING served as the ESG Coordinator.