Foresight closes A$430 million financing and acquires Shell Energy's stake in Kondinin

Type: Financing · Technology: Onshore Wind · Country: Australia · Capacity: 130 MW · Announced: 2026-09-30

Foresight reached financial close on A$430 million ($300 million) of debt financing to fund construction of the 130 MW first stage of the Kondinin wind farm in Western Australia. Foresight's Australian Renewables Income Fund (ARIF) also acquired Shell Energy's 50% stake in Kondinin Energy Pty Ltd, taking full ownership of the wider 370 MW Kondinin Energy Project. Stage 1 will deploy 21 Vestas V162-6.2 MW turbines in the Wheatbelt and is scheduled to start supplying electricity to the South West Interconnected System in late 2028, supporting 145 direct construction jobs. The project has a seven-year PPA with Synergy for all Stage 1 output and a 15-year revenue support agreement under the Australian Government's Capacity Investment Scheme Tender 5. The Western Australian Government designated Kondinin a Priority Project under the State Development Act 2025, and Foresight was advised by Azure Capital, HSFK, DNV and Deloitte while lenders were legally advised by Allens.

Analysis

Foresight Group's Australian Renewables Income Fund (ARIF) closed A$430 million in debt financing for the 130 MW first stage of the Kondinin wind farm in Western Australia and acquired Shell Energy's 50% stake in Kondinin Energy Pty Ltd. Westpac, a major Australian bank, is a lender in this financing, alongside Commonwealth Bank of Australia, Australia and New Zealand Banking Group Limited, HSBC, and Deutsche Bank. Foresight Group, an infrastructure and private equity investment manager, now holds full ownership of the 370 MW Kondinin Energy Project. Stage 1 will deploy 21 Vestas V162-6.2 MW turbines and is scheduled to supply electricity to the South West Interconnected System in late 2028. The project has a seven-year PPA with Synergy for all Stage 1 output and a 15-year revenue support agreement under the Australian Government's Capacity Investment Scheme Tender 5.

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