Deutsche Bank announced that it is the cornerstone mandated lead arranger for Intera Renewables’ A$258 million (US$171.6 million) non-recourse project financing, a transaction that marks the bank’s first partnership with the energy platform.

The platform was established by Palisade Investment Partners to manage and grow a portfolio of operational wind and solar assets in Australia. With a focus on long-term value creation and stable income returns, the platform, it says, “aims to expand its renewable energy footprint through the development and construction of new projects.”

The financing will support the platform’s approximately 1-gigawatt (GW) portfolio of operational onshore wind and solar projects across Australia. This transaction refinances a tranche of the existing $A1.3 billion portfolio financing, with the objective of optimizing and de-risking the platform’s long-term capital structure, while releasing liquidity to pursue growth opportunities.

“The refinancing represents a major achievement for Intera and is a natural evolution of the platform’s capital structure following its establishment,” adds Palisade executive director Simon Parbery. “We welcome Deutsche Bank into the platform as a strategic partner and appreciate their support in both de-risking Intera’s capital structure and pursuing our growth ambitions.”