Zenith Energy Pty Ltd (Zenith Energy) is pleased to announce that it has further strengthened its bank group by adding NORD/LB to its existing A$760M syndicated facility.
This follows a A$320M increase to Zenith’s existing A$440M syndicated facility which was completed in September 2023.
NORD/LB complements Zenith’s already robust lender group. NORD/LB is a leading financier of renewable energy and storage assets with over 1,000 renewable projects (equivalent to >60GW) and over 2.0GW of battery energy storage projects financed to-date across Europe, Americas, and Asia Pacific.
Ross Bennett, Managing Director of NORD/LB Structured Finance in APAC shares “NORD/LB is committed to financing the transition to a sustainable future by supporting our clients across our global platform. We are proud to be supporting Zenith Energy with its target for achieving net zero by 2035. This financing is particularly exciting to us because as Zenith helps regional off-grid miners convert their energy generation to sustainable sources, they are also accelerating the decarbonisation of downstream industries and ultimately end products”.
The addition of NORD/LB is another strong endorsement of Zenith’s capabilities and strategy to be a leading player in the decarbonisation of the mining industry.
Zenith CEO Hamish Moffat commented “We are pleased to add another high-quality international lender to our already strong Lender Group, as Zenith nears the completion of the Kathleen Valley Hybrid Power Station (96MW) and continues the construction of the Bellevue Hybrid Power Station (90MW) and Jundee renewable retrofit (53MW). Adding high quality lenders with strong project finance and renewable energy capability ensures Zenith has the financial capacity to fund additional material growth projects in our pipeline.”
Zenith continues to benefit from strong support from its institutional shareholders, Pacific Equity Partners, Foresight Group and OPTrust. These shareholders collectively have over A$60bn of funds under management and have significant energy infrastructure experience, having invested in renewables, thermal generation, and storage assets across Australia, Europe, and North America. These shareholders have collectively successfully developed over 1,500MW of greenfield, large-scale renewable projects.