Deutsche Bank has a closed a A$348 million (US$230.25 million) debt and bank guarantee facility for Australian energy retailer ENGIE ANZ’s Goorambat East Solar Farm in the Australian state of Victoria, with the bank acting as initial financer and bank guarantee facility and hedge provider on the transaction.

The 250-megawatt (MW) Goorambat East Solar Farm is being developed by ENGIE ANZ, with its construction and commissioning expected to be finished in 2026.

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 the state’s energy security.

This marks the 23rd renewable asset that the bank has project-financed in Australia since 2021.

“Deutsche Bank has provided an all-encompassing financing solution to support ENGIE ANZ in the establishment of Goorambat East Solar Farm,” says Rachel Chia, the bank’s head of project finance for Asia-Pacific, “further advancing renewable energy solutions in Victoria.”

Laura Caspari, ENGIE ANZ’s managing director of renewables, adds: “This 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.”