Standard Chartered announces project debt financing for Australia’s first Renewable Energy Zone
on August 4, 2025The financing supports Spanish companies ACCIONA and COBRA with their Asia-Pacific growth ambitions
4 August 2025, Madrid, Spain – Standard Chartered has successfully provided project debt financing for ACEREZ to develop the Central-West Orana Renewable Energy Zone (REZ) transmission project in New South Wales, Australia.
ACEREZ, a partnership comprising Spain’s ACCIONA and COBRA, and Endeavour Energy, has been appointed by the New South Wales state corporation, EnergyCo to design, build, finance, operate and maintain Australia’s first-declared REZ transmission project for the next 35 years. EnergyCo is responsible for leading the delivery of REZs as part of the New South Wales government’s electricity infrastructure roadmap.
The Central-West Orana REZ is approximately 20,000 square kilometres centred by Dubbo and Dunedoo, on the land of the Wiradjuri, Wailwan and Kamilaroi people. The transmission project is critical infrastructure that will connect solar and wind projects and battery energy storage systems to the New South Wales electricity grid. It is expected to be operational by 2028 and initially unlock 4.5 gigawatts of new network capacity, providing reliable clean energy for 2 million homes, contributing to Australia’s net-zero emissions target by 2050.
Standard Chartered acted as Mandated Lead Arranger, Lender and Hedge Counterparty. The project’s credit structure is underpinned by a 35-year concession agreement with EnergyCo. This financing highlights the Bank’s industry position in innovative infrastructure financing and paves the way for similar future opportunities in the country and wider Asia–Pacific region.
Caroline Eber-Ittel, Head of Coverage for Europe and CEO France, said: “We are immensely proud to be a lead bank in this landmark project, which is not only the first Renewable Energy Zone transmission project in Australia, but also a significant step forward for the global energy transition. It is a prime example of our commitment in Europe and globally to financing sustainable development.
“Our sound expertise in infrastructure finance, cross-border collaboration between teams and our network that offers unique access to sustainable growth opportunities were key to structuring and delivering this complex financing solution across the Europe-Asia-Pacific corridor for our Spanish client.”
The REZ is expected to attract up to AUD 20 billion (EUR12.4 billion) in private investment to the Central-West Orana region by 2030 and support around 5,000 construction jobs at its peak.
This transaction follows another recent financing1 by the Bank for ACCIONA, demonstrating how Standard Chartered is well positioned to partner with our Iberian clients to help them expand their business in the Asian and Australian continents.
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Claire Newell
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Tel: +44 (0)20 7885 7659
Email: claire.newell@sc.com
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