Denmark-based European Energy has secured a long-term portfolio financing package exceeding AU$130 million to support the development and construction of two utility-scale solar PV projects in Australia.
Related article: European Energy head tours Australia for solar milestones
The financing facility supports the Lancaster Solar Park, a 106MW solar project currently under construction in Victoria, and the Mulwala Solar Park, a 31MW project located in New South Wales. Construction of the Mulwala project is scheduled to commence in the third quarter of 2025.
The financing has been provided by Westpac Banking Corporation and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Singapore Branch, both of which bring extensive experience in the financing of renewable energy infrastructure across the region.
European Energy country manager Catriona McLeod said, “Australia is a key market for European Energy, and we are pleased to strengthen our development activities with the support of established financial partners.
“This financing enables us to deliver two high-quality assets that will contribute meaningfully to the energy transition and support the integration of renewables into the national grid.”
Related article: European Energy commissions its first solar park in Australia
European Energy is actively expanding its presence in the Australian renewable energy sector through the development of solar, wind, and storage projects.
