Yinson Renewables has secured approximately NZ$290 million (US$163 million) in financing for its 94.6 MW Mt Cass Wind Farm in New Zealand, marking financial close for one of the country’s largest wind project financings in recent years.
The project, developed through subsidiary Mt Cass Wind Farm Ltd, began construction earlier this year and is expected to commence commercial operations in 2028.
The financing was led by MUFG Bank alongside HSBC and Bank of New Zealand, with all three acting as Mandated Lead Arrangers and Bookrunners.
The package comprises senior construction and term loan facilities, a debt service reserve facility and instrument facilities. MUFG also acted as Sole Structuring Coordinator, Facility Agent and Security Trustee, while HSBC was appointed Account Bank.
Located on New Zealand’s South Island, the Mt Cass Wind Farm is expected to generate enough clean electricity to power about 40,000 homes.
Yinson Renewables Chief Executive Officer Vegard Urnes said the project marked a major milestone as the company’s first wind energy project and first New Zealand project to achieve financial close.
“Mt Cass is a defining project for Yinson Renewables,” he said, adding that it would strengthen the group’s renewable energy platform and support further growth in the market.
The project is also expected to contribute to New Zealand’s long-term renewable energy and decarbonisation goals.
