Westpac agrees to $13.9M for Delorean bioenergy project in Australia
This non-binding funding agreement and mandate represents a major milestone in Delorean’s infrastructure strategy, establishing a relationship with a second Big Four Australian bank.
Importantly, the proposed Westpac financing is on more favorable terms than the existing financing in place for the nearly complete SA1 project, reflecting the continued maturation of Delorean’s Build-Own-Operate project platform and its growing track record in developing and financing commercial-scale bioenergy infrastructure.
The proposed loan facility will support the acquisition of capital plant and equipment for NSW1. The Westpac agreement and mandate is non-binding and remains subject to the completion of detailed financing documentation which is expected within the coming weeks.
Together with the A$20 million Westpac financing once detailed binding documentation is signed and A$30.5m in signed government grant, these funding sources represent A$50.5 million, or approximately 81%, of the project’s estimated A$62.1 million capital cost
Category: Fuels
