Intesa Sanpaolo secures €150 million green financing for NZ's Kōwhai solar park
Intesa Sanpaolo was part of a pool of international banks that secured NZ$267 million (around €150 million) in green financing for a joint-venture between Lightsource bp, a global leader in solar energy project development and management, and Contact Energy, one of New Zealand’s leading energy distributors and producers.
The financing, in which Intesa Sanpaolo participated through the Sydney office of its IMI Corporate & Investment Banking Division, will support the construction of New Zealand’s Kōwhai Park solar facility.
The Kōwhai solar park, located in Christchurch – South Island's largest city and New Zealand’s third most important – will be one of the country’s largest solar facilities, capable of producing 168 MWdc, with approximately 300,000 solar panels.
Construction is to begin in late 2024, with commercial operations expected in 2026. Once operational, Kōwhai Park will generate over 275 GWh per year, enough to meet the annual energy needs of around 36,000 homes.
“Intesa Sanpaolo, leveraging its recognised expertise in renewable energy and a well-established, selective international presence, reaffirms its commitment to driving the energy transition forward and promoting green financing.”
Nicola Doninelli, Head of Distribution Platforms & GTB, IMI Corporate & Investment Banking Division at Intesa Sanpaolo
Since 2021, Intesa Sanpaolo IMI Corporate & Investment Banking Division has been part of 19 financing transactions across the Asia-Pacific region, with a total value of around €12 billion in ESG-related operations.
Last updated 22 August 2024 at 10:55:34
