Focus

(March 28th, 2019 – Sydney, Australia) Goldwind and POWERCHINA RESOURCES LTD. (hereinafter referred to as PCR) successfully signed the Syndicated Facility Agreement, granting a total financing of 230 million Australian dollars for the Wild Cattle Hill Project.

The syndicate has three banks, including Australian and Chinese banks, namely Westpac, ANZ and ICBC. KPMG is the financing consultant for the project, and Herbert Smith Freehills provides legal support for the project financing on behalf of the borrower. The project successfully got loans from a syndicate of Australian and Chinese banks, which created an innovative financing program featuring “one main body, two types of loans” for the project.

Different from the previous project financing structure: Some of the electricity produced by the project will be traded on the spot market, some of the project green certificates will be subject to long-term contract trading mechanism. The project adopts a combination of non-recourse financing and recourse financing, which effectively optimizes the project financing structure and is an innovative trial of financing made by Chinese enterprises in the process of “going global”.

The signing of this agreement is a major milestone for the Wild Cattle Hill Project, laying a solid foundation for the rapid and steady progress of the project.

Goldwind has been developing local financing capabilities and is committed to establishing stable partnership with global wind power project financing teams. This agreement is not only an innovative trial of project financing made by Goldwind in Australia’s clean energy market, but also makes Goldwind’s international project financing more mature. It fully reflects the industry's recognition of the Goldwind’s brand and confidence in its overseas business, which will lay a solid foundation for the diversified financing of Goldwind’s international projects in the future.