Risks are starting to emerge in the Australian renewables market. Falling spot prices and grid capacity are two of them. By John Arbouw.
Plenary Group, which took over the asset management but not the ownership of the Peninsula Link toll road in southern Melbourne in 2016 from owner Southern Way, has completed a A$646m (US$457m) refinancing of the availability PPP project.
Sydney Airport has completed a A$400m (US$282m) bond issue in the US private placement market to repay all its drawn bank debt.
The Australian Rail Track Corporation (ARTC) has opened a registration of interest (ROI) process for the Inland Rail PPP project.
Macquarie has become a partner alongside InterContinental Energy, Vestas and CWP Energy Asia in the estimated A$22bn (US$15.5bn) Western Australian project to build more than 11GW of solar and wind and a possible underground sea cable to Indonesia.
Neoen Australia has agreed to scale back its proposed A$500m (US$354m) Crystal Brook Energy Park in South Australia following opposition from local groups.
The Clean Energy Finance Corp (CEFC) has provided a A$30m (US$21.4m) debt facility to Visy Industries to increase its waste recycling and processing capabilities in Melbourne.
Origin Energy, which signed a 15-year power purchase agreement (PPA) with the sponsors of the 56MW Moree solar farm in New South Wales in 2016, has signed a 12-year PPA with 19 local councils to onsell part of its PPA capacity.
The sponsor of the A$150m (US$106m) 200MW Bookaar solar project near Camperdown in Victoria has been refused planning approval by the local council.
Budding renewable energy retailer Flow Power, which is 51% owned by Canada’s OP Trust, has signed a power purchase agreement (PPA) with CWP Renewables and Partners Group to take 50MW from their 270MW Sapphire wind farm in New South Wales.
Chinese panel maker Risen Energy is reported to have bought the 100MW Merredin solar farm in Western Australia from Stellata Energy for an undisclosed sum.
The A$40m (US$28m) 25MW Katherine Solar project in the Northern Territory being developed by Epuron and Island Green Power has secured a 12-year power purchase agreement (PPA) with government-owned Jacana Energy. This agreement between Katherine Solar and Jacana will increase renewable energy use in the Territory by between 3% and 4%.
The Victorian government has approved the A$48m (US$34m) 68MW Congupna solar project near Shepparton in Victoria that will be developed by Spanish group X-Elio. The group set up an office in Melbourne last year.
Chinese group Maoneng has reached financial close on the A$370m (U$260m), 255MW Sunraysia solar farm at Balranald in New South Wales.
Western Australian oil and Gas company Woodside is moving forward with expansion of its Pluto LNG project by choosing Bechtel to do the FEED contract for the second train.
The financing arm of the APLNG coal seam gas project in Queensland has refinanced US$1.4bn of its bank debt through a private placement in the US 4a2 market. The tenor is 12 years and the coupon 4.82%.