Metlen Energy and Metals (METLEN) has reached financial close on a refinancing of all its operating and under-construction assets in Australia. Furthermore, the financial close was reached with lenders, namely Deutsche Bank, Intesa Sanpaolo (IMI CIB Division), and Westpac Banking Corporation. Once operational, the solar portfolio will produce renewable energy of almost 1 TWh annually.
The portfolio comprises operational solar farms located in New South Wales and Queensland. The solar farms are Corowa and Junee, both having a capacity of 40 MW, Wagga with a capacity of 64 MW, Wyalong with a capacity of 75 MW, Moura with a capacity of 110 MW, Kingaroy with a capacity of 53 MW, along with the 150 MWp Munna Creek solar farm. The Munna Creek solar farm is approaching construction completion.
Additionally, the majority of the power and large-scale generation certificates produced by the portfolio are sold under 10-year green power purchase agreements. The various offtakers include CS Energy, Coles, Telstra, National Broadband Network, SmartestEnergy, and Zen Energy. The financing is structured with an AUD 269 million operating term facility, AUD 158 million Munna Creek construction facility, and AUD 33 million of ancillary facilities.
