Deutsche Bank has announced the closure of a senior debt financing of AUD 160 million (US$105.6 million) for the 150 MW Munna Creek Solar Farm project located near the town of Bauple, Australia. The bank acted as Lender, Green Loan Coordinator, Bank Guarantee Facility Provider and Hedge Provider on the transaction.
The project owned by MYTILINEOS consists of more than 500,000 solar panels. Upon completion, it is expected to produce about 300,000 MWh of power annually, enough to cater to around 40,000 local households and will offset 200,000 tons of carbon dioxide emissions (CO2) each year.
The Munna Creek Solar Farm has secured two investment-grade offtake contracts. Telstra Energy has committed to purchasing half of the solar farm's output, while NBN Co has secured 20%.
MYTILINEOS’ M Renewables, responsible for both engineering, procurement, and construction (EPC), will also serve as the Operations and Maintenance (O&M) Provider once the project is operational. The solar farm’s equipment will be provided by Risen Energy (PV modules), SMA (Inverters) and Nextracker (Trackers). Construction is anticipated to commence in 2024, with a targeted completion date in 2025.
