Natixis CIB Supports Development of Edenvale
Natixis CIB's Infrastructure and Energy Finance team in Australia acted as the sole Mandated Lead Arranger and sole Underwriter for the project financing of the 204MW Edenvale Solar Park (Edenvale) in Queensland. Natixis also acted as the sole Hedge Provider as well as Agent & Security Trustee for the transaction.
Edenvale is 50-50 owned by Japan’s Sojitz Corporation, a Tokyo-based trading company, and ENEOS Australia Pty Ltd, the Australian subsidiary of ENEOS Corporation (formerly known as JXTG Nippon Oil & Energy Corporation), a fully-integrated Japanese oil company with significant interests in renewables and hydrogen. The project is being built on a 428 hectare site near Chinchilla in the Western Downs region, by the Australian subsidiary of Spain's Grupo Gransolar SL. It is the first solar project in Australia for both ENEOS and Sojitz.
The project is due to be completed in the second half of the 2022 fiscal year and will sell 70 per cent of its output to a local electricity retailer. Some of the remaining 30 per cent will be supplied to Gregory Crinum mine, which is owned by Sojitz. It is anticipated that this will reduce emissions by an estimated 320,000 tonnes of carbon per year.
Natixis CIB plays an active role in the transition to a sustainable economy, and has committed all of its business lines to this endeavor. As one of the leading players in the renewable energy financing space, Natixis is proud to support its clients in their transition journeys.