Wedoany.com Report-Dec 22,Cubico Sustainable Investments has reached financial close for the Wambo Wind Farm project, which includes the 252 MW Wambo Stage I and 254 MW Wambo Stage II wind farms in Queensland, Australia.
The financial close secures two separate five-year project finance facilities, totalling approximately AUD 650 million, from a consortium of banks, including ANZ, Crédit Agricole, ING, NAB, and Westpac. ANZ is also providing bank guarantee facilities, with NAB acting as the Agent, Security Trustee, and Account Bank.
The Wambo Wind Farm is located near Jandowae in Queensland’s Western Downs region and is being developed as a 50:50 joint venture with Stanwell Corporation, which will also be the offtaker for Cubico’s 50% share of the generated energy. Once completed, the two stages will provide over 500 MW of renewable energy. Stage I is expected to begin operations in 2025, followed by Stage II in 2026.
