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Cesce secures financing for the 923.4 MW MacIntyre wind farm developed by ACCIONA Energy

CE Noticias Financieras  


    Cesce, through its Green Investment Policy, is backing this ACCIONA Energy project, which consists of the construction and operation of the MacIntyre wind farm in the southwest of Brisbane (Queensland, Australia), which will consist of 162 wind turbines and will have an installed capacity of 923.4 MW.

    Cesce underwrites the syndicated loan of 1,098 million Australian dollars (approximately 712 million euros) granted to ACCIONA Energy's subsidiary to finance its investment in this project.

    The total investment in the project is estimated at A$1,878 million (approximately 1,219 million euros). ACCIONA Energy, through its subsidiary in Australia, owns 70% of the wind farm while an investment partner will own the remaining 30%. ACCIONA Energy is also responsible for the development, engineering, construction, management, operation and maintenance of the project.

    This project will be part of the so-called MacIntyre Complex comprising two wind farms: the MacIntyre wind farm (923.4 MW) and the Karara wind farm (102.6 MW). Both will have a combined capacity of 1,026 MW, making it the largest wind project in Australia to date and one of the largest in the world.

    Xiana Méndez, Secretary of State for Trade, highlighted that "we are very satisfied with the success of Cesce's green policy".

    In just one year in operation, several operations have already been signed under this modality, which contribute to the international growth of pioneering companies in green technologies, and are finding expansion markets among the most booming and demanding economies in the world, as is the case of Australia".

    Fernando Salazar, Executive Chairman of Cesce, highlighted "the importance of Cesce's role as an ECA in facilitating international financing and investment for Spanish companies, in this case, through a sustainable project. We are delighted to continue to be a key partner for Spanish companies in their internationalization process".

    Arantza Ezpeleta, CFSO of Acciona Energía, highlights that "Cesce's Green Investment Policy has allowed us to structure a very efficient long-term corporate financing solution that covers a large part of the investment needs in MacIntyre, the largest renewable project in our history. This ECA transaction is a milestone for our company both in terms of its size and as a green finance with an additional element that amplifies the positive impact of the project on the decarbonization of the state of Queensland."

    Construction of the project developed by ACCIONA Energy commenced in April 2022 and is expected to be operational in February 2025; the operation and maintenance phase of the wind farm will be 30 years and the door to door term of the credit facility covered by Cesce will be 16 years.

    Through this Green Investment Policy, Cesce continues to support the financing of Spanish companies' investments abroad, on this occasion through the coverage of a green credit with additional impact, granted by a syndicate of 6 banks (MLAs), Banco Santander, CaixaBank, Crédit Agricole Corporate and Investment Bank, HSBC, ING and J.P. Morgan. Among these entities, Banco Santander intervenes as Agent before Cesce and Credit Agent. HSBC and J.P. Morgan acted as Coordinators with Cesce. Finally, Crédit Agricole Corporate and Investment Bank and HSBC acted as ESG Coordinators.

    This is the largest transaction covered to date by Cesce through the Green Investment Policy.


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