Global Power Generation (GPG) has secured a $2.3 billion refinancing arrangement with 11 international banks for its portfolio of operating and development projects in Australia.
The financing facility is structured around the company’s portfolio of eight operating assets, six wind farms, a battery storage project, and one solar-hybrid project with storage, two photovoltaic plants under construction, and one solar-plus-battery hybrid project under development.
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GPG general manager of financial markets and corporate development Steven Fernández said, “This agreement is a clear reflection of the confidence that financial institutions have in our ability to lead the energy transition, supported by the hard work of a team committed to a more sustainable future.”
2023 marked GPG’s 15th year of operation in Australia.
Currently, GPG operates four wind farms in the country: Berrybank 1, Berrybank 2, Crookwell 2, and Hawkesdale. The Hawkesdale Wind Farm, located in Victoria, has been in commercial operation since late August and has a power purchase agreement with Amazon for the energy it produces.
In addition to these wind projects, GPG also commissioned the ACT Battery Project in 2023, marking its first storage facility in the world.
The company recently inaugurated the Crookwell 3 and Ryan Corner wind farms—the latter being its largest wind installation in Australia with a capacity of 218MW.
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Additionally, GPG will soon inaugurate the Cunderdin solar-plus-battery hybrid plant—its first hybrid solar project developed in Australia. The plant will have an installed solar generation capacity of 128MW and a battery energy storage system of 55MW/220MWh.
The company has also recently begun construction on two solar projects in Glenellen and Bundaberg with capacities of 260MW and 100MW respectively.
