International infrastructure investor John Laing Group has closed financing on its 174.9MW Finley Solar Farm in New South Wales, Australia, which is being developed by Esco Pacific.
The project, 100%-owend by John Laing, is expected to be complete in late 2019.
The announcement comes within a few months of the Group’s close on the 255MW Sunraysia Solar Farm, also in New South Wales. Together they add to the two wind farm projects already in John Laing’s Asia Pacific renewable energy portfolio, representing over 750MW of generating capacity.
Justin Bailey, John Laing, regional MD – Asia Pacific, said: “With two solar investments secured in Australia in as many months, we are underlining our commitment to the region and to socially responsible projects that support in-country ambitions. John Laing has a growing track record in this sector and, together with Kiata Wind Farm in Victoria and Hornsdale Wind Farm in Southern Australia, we are pleased to support Australia’s goals to meet its environmental commitments to reduce greenhouse gas emissions by more than a quarter.
Steven Rademaker, CEO of ESCO Pacific, said: “Achieving financial close on our Finley Solar Farm is a fantastic outcome for ESCO Pacific, bringing our developed capacity to nearly 500MWp of solar in Australia and cementing our position as one of the leading developers in the market. We are delighted to be working with our equity partner on this project, John Laing, and further extending our existing relationships with Westpac and ANZ.”