Vena Energy announced that it has secured about A$1.4 billion in green financing facilities to support solar and battery energy storage system assets across Australia.
The financing facilities are structured across two transactions, combining greenfield project funding with the refinancing of existing facilities. The capital will support renewable energy and storage projects across South Australia, Queensland, and New South Wales.
The first transaction supports 294 MWp of operational solar capacity, 320 MWp of solar capacity under construction, and 408 MWh of battery energy storage capacity under construction across the Tailem Bend and Wandoan South precincts in South Australia and Queensland.
The second transaction supports two adjacent 583 MWh battery energy storage units under construction in New South Wales, along with the operational 150 MWh Wandoan South battery energy storage system in Queensland.
Vena Energy said the transactions bring together assets with complementary operating and financing characteristics. This structure is intended to help the company align long-term capital with high-quality renewable energy and storage infrastructure, improve funding efficiency, enhance flexibility for future growth, and support disciplined capital management across its Asia-Pacific platform.
The solar assets included in the financing are expected to generate enough renewable power to supply the equivalent annual electricity needs of about 198,000 Australian households. The projects are also expected to avoid more than one million tonnes of CO2 emissions per year, which Vena Energy said is equivalent to removing around 228,000 vehicles from the road or planting about 17.5 million trees.
The projects are also expected to save an estimated 904 million litres of water per year compared to conventional energy generation.
The green financing facilities were supported by a group of international and local lenders, including BNP Paribas, Bank of China, DBS Bank, ING Bank, Intesa Sanpaolo’s IMI CIB Division, Mizuho Bank, MUFG Bank, OCBC, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, and Westpac Banking Corporation.
Ashurst acted as legal adviser to Vena Energy. Norton Rose Fulbright and Corrs Chambers Westgarth acted as legal advisers to the lenders.
KEY QUOTES:
“Vena Energy takes a disciplined approach to capital allocation, and these transactions demonstrate our ability to mobilise long-term capital at scale for high-quality green infrastructure. Australia remains a key market within our Asia-Pacific growth strategy, and the strong support from leading international and local lenders reinforces confidence in our platform, our execution capability and the long-term role of renewables and storage in the region’s energy systems.”
Simone Grasso, Chief Investment Officer of Vena Group and Global Head of Vena Nexus
“This is a significant milestone for our Australian business and a strong endorsement of the quality of our solar and battery strategy and assets. By aligning financing structures with complementary assets, we are able to continue scaling our Australian platform and delivering infrastructure that supports grid stability, reliability and the integration of more renewable energy into the system.”
Owen Sela, Head of Australia at Vena Energy
