Wedoany.com Report-Apr. 8, Spanish renewable energy company Acciona Energía has secured a AUD 453 million syndicated green loan to fund the construction and operation of its 480 MW Aldoga Solar Farm, located 560 kilometers north of Brisbane, Australia. The financing is fully supported by Spain’s export credit agency, CESCE, and provided by a group of international banks: BNP Paribas (France), ING (Netherlands), J.P. Morgan (USA), and Banco Santander (Spain). Banco Santander also serves as the CESCE agent, while ING acts as the environmental, social, and governance (ESG) coordinator.

The loan will not only cover the solar farm’s development but also support regenerative agriculture programs for local farmers near the site. Specific metrics will track the progress and impact of these initiatives. Acciona Energía is overseeing the project’s development, engineering, construction, management, operation, and maintenance. The Aldoga Solar Farm will feature 820,000 solar modules, with a total investment estimated at AUD 670 million. Construction started in late 2023, and the facility is expected to begin operations by mid-2026.

Once operational, the solar farm will produce enough clean energy to power nearly 185,000 homes and reduce CO2 emissions by approximately 934,000 tons annually. The operation and maintenance phase will span 30 years, while the CESCE-backed loan has a term of 15.5 years. The project has a 15-year power purchase agreement (PPA) with Stanwell Corp., which intends to use the energy for its Central Queensland Hydrogen (CQ-H2) green hydrogen project.

However, the CQ-H2 project faced a setback in February 2025 when the Queensland government withdrew its support for the AUD 12.5 billion initiative. Stanwell, representing the CQ-H2 consortium—including Japan’s Iwatani and Marubeni corporations and Singapore’s Keppel Infrastructure—stated: “It was reviewing the consequences of the state’s announcement, but the project is still expected to proceed.” Despite this uncertainty, the Aldoga Solar Farm remains on track to contribute significantly to Australia’s renewable energy landscape.

The financing reflects Acciona Energía’s commitment to sustainable energy solutions and community benefits in the region. The Aldoga Solar Farm, located in Queensland, will bolster clean energy supply while supporting local agriculture, aligning with broader environmental goals.