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BNY Mellon supports Australia’s first commercial thermal waste-to-energy plant

12 Nov 2018

From BNY Mellon

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 conflicts of interest in carrying out fiduciary duties in the transaction.

“We are pleased to be furthering Environmental, Social and Governance (ESG) goals in Western Australia with our agent and trustee support in the financing of this project,” said Sonia Chaliha, Global Head of Business Development for Corporate Trust, BNY Mellon.

“ESG goals align to our broader goals as a company, as well as contributing to the supply of cleaner and greener energy.”

Tags:Sonia Chaliha

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