CEFC and Westbourne Capital finance expansion of Port Augusta renewables project


The additional CEFC commitment, of $50 million, takes its overall senior debt commitment in the project to $200 million, representing its largest investment in a single wind farm development to date.

When complete, the Lincoln Gap Wind Farm near Port Augusta will have a total generating capacity of more than 212 MW, producing enough energy to power 155,000 homes. It will offset some 680,000 tonnes of carbon emissions annually.

CEFC Wind sector lead Andrew Gardner said: “This debt finance package sees Westbourne Capital participating as a mezzanine debt lender alongside our senior debt commitment.

“The ability to fold mezzanine debt into finance for new build wind farms in this manner creates new investment opportunities for non-bank lenders to further support the growth of the renewable energy sector.”

Westbourne Capital Managing Director David Ridley said: “We are very pleased to have worked with the CEFC and Nexif Energy to finance the construction of Stage II. Lincoln Gap Wind Farm represents our firm’s second debt investment in the Australian renewables space and demonstrates the growing interest from institutional investors seeking to access well structured transactions in the sector”.