Genex secures AUD 162m refinancing for Aussie solar parks

• Genex Power secures AUD 162 million refinancing for QLD and NSW solar projects, improving capital structure with new debt due in 2029.

Genex Power Ltd has successfully refinanced its debt for two solar projects in Queensland and New South Wales, securing a new facility of AUD 162 million. The refinancing is for the 50-MW Kidston solar project in North Queensland and the 50-MW Jemalong PV scheme in New South Wales. The new five-year senior facility was provided by existing lenders DZ BANK and Westpac Banking Corporation, allowing Genex to fully repay an existing subordinated loan facility and streamline its capital structure.

The new debt, due in 2029, offers more favourable financing terms compared to the existing credit facility. Both the Kidston and Jemalong solar parks are currently generating electricity for the National Electricity Market after being commissioned in 2017 and 2021, respectively.

What are the details of Genex Power's successful debt refinancing for two solar projects?

• Genex Power Ltd has successfully refinanced its debt for two solar projects in Queensland and New South Wales, securing a new facility of AUD 162 million.
• The refinancing is for the 50-MW Kidston solar project in North Queensland and the 50-MW Jemalong PV scheme in New South Wales.
• The new five-year senior facility was provided by existing lenders DZ BANK and Westpac Banking Corporation.
• The refinancing allows Genex to fully repay an existing subordinated loan facility and streamline its capital structure.
• The new debt, due in 2029, offers more favourable financing terms compared to the existing credit facility.
• Both the Kidston and Jemalong solar parks are currently generating electricity for the National Electricity Market after being commissioned in 2017 and 2021, respectively.