28.10.2022

Financial close of the Wandoan South Solar project for Vena Energy Australia

Intesa Sanpaolo acted as the Joint-Green Structuring Bank in the financial close on the first stage of the 125 MW Wandoan South Solar Project of  Vena Energy, Asia-Pacific’s leading renewable energy company. The Project will be capable of producing up to 365 gigawatt hours of energy annually, or the equivalent of supplying clean renewable energy to approximately 60,000 averaged-sized Australian households.

The financial close on such a significant project is instrumental to Vena Energy’s vision to support Australia’s energy transition. With the Wandoan South Solar Project, Vena Energy continues to serve its customers’ demand for affordable and clean electricity whilst helping them decarbonise and contribute towards Australia’s net-zero targets.

Intesa Sanpaolo, with the other Vena Energy’s partner banks (DBS, ING, OCBC Bank and SMBC) have agreed to provide debt and ancillary facilities to the 125 MW Wandoan South Solar Stage 1. The facilities meet the criteria of ‘Green Loan’ financing, which is aligned with Vena Energy's Green Financing Framework. This is Vena Energy’s third green project financing in Australia.