Deutsche Bank finances the construction of the Goorambat East Solar Farm
Deutsche Bank has today announced that it has a closed a AUD 348 million debt and bank guarantee facility for Goorambat East Solar Farm. The bank is proud to act as Initial Financer, Bank Guarantee Facility Provider, and Hedge Provider on this transaction.
The 250 MW Goorambat East Solar Farm is being developed by ENGIE ANZ. Construction and commissioning of the 250 MW solar farm is expected to be finished in 2026.
Rachel Chia, Deutsche Bank’s Head of Project Finance, Asia Pacific, said: “Deutsche Bank has provided an all-encompassing financing solution to support ENGIE ANZ in the establishment of Goorambat East Solar Farm, further advancing renewable energy solutions in Victoria.”
This marks the 23rd renewable asset that Deutsche Bank has project financed in Australia since 2021.
Once completed, at its maximum capacity, the solar farm could generate enough electricity to power the equivalent of 105,000 average Victorian homes, helping to bolster energy security in the state.
Laura Caspari, Managing Director of Renewables at ENGIE ANZ, said: “ENGIE’s Goorambat East Solar Farm project represents a significant new private investment into regional Victoria and will create approximately 250 new jobs during the construction phase and a community benefit fund designed to deliver long-term benefits to Goorambat and surrounding communities.”
An aerial view of Goorambat East, Victoria, Australia, where the solar farm will be built
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Forward-looking statements
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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Deutsche Bank has today announced that it has a closed a AUD 348 million debt and bank guarantee facility for Goorambat East Solar Farm. The bank is proud to act as Initial Financer, Bank Guarantee Facility Provider, and Hedge Provider on this transaction.
The 250 MW Goorambat East Solar Farm is being developed by ENGIE ANZ. Construction and commissioning of the 250 MW solar farm is expected to be finished in 2026.
Rachel Chia, Deutsche Bank’s Head of Project Finance, Asia Pacific, said: “Deutsche Bank has provided an all-encompassing financing solution to support ENGIE ANZ in the establishment of Goorambat East Solar Farm, further advancing renewable energy solutions in Victoria.”
This marks the 23rd renewable asset that Deutsche Bank has project financed in Australia since 2021.
Once completed, at its maximum capacity, the solar farm could generate enough electricity to power the equivalent of 105,000 average Victorian homes, helping to bolster energy security in the state.
Laura Caspari, Managing Director of Renewables at ENGIE ANZ, said: “ENGIE’s Goorambat East Solar Farm project represents a significant new private investment into regional Victoria and will create approximately 250 new jobs during the construction phase and a community benefit fund designed to deliver long-term benefits to Goorambat and surrounding communities.”
To learn more, read ENGIE Australia’s full media release.
Deutsche Bank AG
Media Relations
Mia Popplewell
Phone: +612 8258 2092
Email: mia.popplewell@db.com
An aerial view of Goorambat East, Victoria, Australia, where the solar farm will be built
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Forward-looking statements
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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