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DIF has announced that it has achieved financial close of a AUD668 million (US$476.1 million) greenfield waste-to-energy facility in Kwinana, near Perth, Australia, in consortium with Macquarie Capital and Phoenix Energy Australia. DIF has acquired a 60% shareholding in the project through two of its funds: DIF Infrastructure IV and DIF Infrastructure V.
Once operational the facility will divert up to 400,000 metrics tons of household, commercial, and industrial waste from landfills each year, representing a quarter of Perth’s post-recycling rubbish. The facility will benefit from long-term municipal waste supply agreements with Rivers Regional Council and the City of Kwinana, two regional councils located in the Perth region.
Collected waste will undergo thermal treatment, whereby the recovered energy is converted into steam to produce electricity. It is projected that the facility will export 36 MW of electricity to the local grid per year, sufficient to power more than 50,000 households.
Metallic materials will be recovered and recycled, while other by-products of the process will be reused as construction materials. At full capacity, the facility will reduce carbon dioxide emissions by more than 200,000 metric tons per year, the equivalent of taking 43,000 cars off the road.
Macquarie Capital and DIF are providing AUD275 million (US$196.0 million) of equity finance, and Macquarie Capital will also continue to be responsible for delivery of the facility. The developers have secured AUD400 million (US$285.1 million) debt financing. AUD90 million (US$64.1 million) is being provided by the Australian government's Clean Energy Finance Corporation (CEFC).
The project is also supported by a grant from the Australian Renewable Energy Agency (ARENA) of AUD23 million (US$16.4 million).
Acciona has been contracted to design and construct the facility, while Veolia has signed a 25-year operations and maintenance agreement. Construction will commence this month, while start of operations is planned for the end of 2021.
Maoneng Australia has announced that it has achieved financial close for the 255 MWp Sunraysia Solar Farm, located in New South Wales, south-east Australia.
Read moreThe project company for the Asian Renewable Energy Hub has announced that Macquarie Group has agreed to join the consortium developing the project and provide development capital. Macquarie's consortium partners for the over 11 GW project are Intercontinental Energy, Vestas and CWP Energy Asia.
Read moreVivoPower International PLC has announced that its wholly-owned subsidiary in Australia, VivoPower Pty Ltd has entered into a partnership with IT Power (Australia) Pty Ltd (ITP) to jointly develop a portfolio of utility-scale ground-mounted solar projects in New South Wales.
Read moreThe Australian state of Victoria, located in the south-east of the country, has awarded Support Agreements to six renewable energy projects with 928 MW cumulative capacity in its first renewable energy auction.
Read moreSydney Airport has announced the signing of a tripartite Memorandum of Understanding (MOU) with Origin Energy and Grassroots Renewable Energy that will see 75% of its current electricity load supplied by the 135 MW Crudine Ridge wind farm located in central-west New South Wales.
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