Cubico Sustainable Investments has reached financial close for the 252MW Wambo Stage 1 and 254MW Wambo Stage 2 wind farms near Jandowae in Queensland.
The financial close secures two separate five-year project finance facilities totalling approximately $650 million, provided by a consortium of leading banks including ANZ, Crédit Agricole, ING, NAB, and Westpac.
Related article: Construction begins on Queensland’s Wambo Wind Farm
Located in Queensland’s Western Downs region, the Wambo Wind Farm is being developed in a 50:50 joint venture with Stanwell Corporation, which will also serve as the offtaker for Cubico’s 50% share of the energy generated.
Together, the two stages will provide over 500MW of renewable energy, enough to power more than 200,000 homes annually and support Queensland’s target of sourcing 80% of its electricity from renewable energy by 2035.
Stage 1 of the Wambo Wind Farm is set to commence operations in 2025, followed by Stage 2 in 2026, which will introduce an additional 41 turbines— featuring the tallest onshore turbines in Australia. Together, these milestones will establish Wambo as Cubico’s first operational project in Australia.
Cubico currently manages an Australian portfolio featuring a 2.5GW pipeline of wind, solar, and battery storage projects, along with over 3GW of early-stage greenfield developments.
Related article: Work starts on Wambo Wind Farm grid connection
Cubico country head for Australia David Smith says, “This is a significant milestone for the Wambo Wind Farm, demonstrating the continued progress of the project as we move towards first power.
“Once completed, Wambo will play an important role in enabling Queensland to meet its clean energy generation targets while delivering lasting benefits through job creation, economic growth, and our Community Benefit Funds, which have already supported important initiatives in the region.”
