Infradebt funds Waroona Renewable Energy Project

Australia-based Frontier Energy Limited has secured a senior debt mandate from Infradebt Pty Limited for up to $215 million to finance Stage One of the Waroona Renewable Energy Project. This phase includes the construction of a 120 MWdc solar facility and an 80 MW /360 MWh storage system. The financing agreement features a 17-year term with an innovative repayment structure to improve economic efficiency. Infradebt, an Australian infrastructure fund, will also support future battery projects, including Stage Two of the Waroona Project. The total cost for Stage One is estimated at $304 million, with the final debt amount dependent on the Reserve Capacity Price set by the Australian Energy Market Operator (AEMO) in late September 2024. The Energy Transition Fund will primarily finance this project, with final agreements expected in September 2024.