BNY Mellon Supports Australia’s First Commercial Thermal Waste-To-Energy Plant
BNY Mellon has announced its appointment as Facility Agent & Security Trustee for an A$400m project finance facility by Macquarie Capital. The facility arrangement will fund construction of Australia’s first thermal Waste-to-Energy (W2E) power generation facility in Kwinana, Western Australia. The transaction closed on October 18, 2018.
When complete, the facility will process up to 400,000 tonnes of household, commercial and industrial waste a year and generate 36MW of baseload power to be exported to the grid. A consortium of energy and services companies will design, construct, and operate the facility.
As Facility Agent and Security Trustee in a project finance facility, BNY Mellon is able to act as an independent third-party agent and service provider, without co