A$50m Senior Debt Facility from Clean Energy Finance Corporation
On 6 June 2014, the Clean Energy Finance Corporation (“CEFC”) announced that it will provide up to A$50m in senior debt finance to New Energy Corporation (“New Energy”).
New Energy is an Australian, privately-owned company established in 2009 to develop innovative projects to make waste management and energy production more sustainable. It has two major waste-to-gas projects in advanced stages of development, one at Port Hedland (Boodarie) in the Pilbara and a second at Rockingham near Perth.
The CEFC’s finance will assist in developing the first municipal waste-to-energy gasification project in Australia, and help facilitate access to private sector funding for other waste-to-energy facilities in the future.
Azure Capital acted as an independent financial adviser to New Energy on the transaction.