Portland Wind Energy Project reaches financial close

September 16, 2013 by  
Filed under Green Energy News

Mon, 16 September 2013

The fifth and final stage of Pacific Hydro’s Portland Wind Energy Project has achieved financial close.

Financial support for the project has come from a consortium of domestic and international banks, as well as the Clean Energy Finance Corporation (CEFC).

The project will comprise 23 REpower turbines with a total capacity of 47 MW. The project is split across two sites at Cape Nelson North and Cape Sir William Grant.

Pacific Hydro General Manager Australia Lane Crockett said “While an agreement has been in place with CEFC for some time, we have now achieved financial close with the entire banking consortium.

“This project will strengthen our retail business, thereby increasing competition and adding to the diversity of choice for consumers.

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The 179MW Portland Wind Energy Projects (PWEP) includes four stages: PWEP I at Yambuk (30 MW), PWEP II at Cape Bridgewater (58 MW), PWEP III at Cape Nelson South (44 MW) and PWEP IV at Cape Nelson North and Cape Sir William Grant (47 MW).

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