Neoen has achieved financial close on the Kaban Green Power Hub, a project designed to generate clean energy and strengthen the electricity network in Far North Queensland, Australia.
The project consists of a 157 MW wind farm located near the town of Ravenshoe in the Atherton Tablelands and a 320 km transmission line upgrade of the North Queensland coastal circuit. The wind farm consists of 28 Vestas V162 turbines with a 5.6 MW capacity each. The wind project is under construction and Vestas is selected as an EPC contractor for the farm. Construction is expected to take 21 months with full energy generation scheduled for 2023.
Total project costs will amount to AUD370million (US$265.84 million), with debt provided by a syndicate of five lenders- BNP Paribas, HSBC, MUFG, NAB, and NORD/LB. The project has a 15-year capacity purchase agreement (CPA) with CleanCo, Queensland’s publicly owned clean energy company, for 100% of the energy generated.
