Deutsche Bank supports the first Renewable Energy Zone formed in Australia

ACEREZ has been appointed as network operator to design, build, finance, operate and maintain the Central-West Orana REZ transmission network for a period of 35 years.

This REZ is located in NSW, Australia, and covers approximately 20,000 square kilometres centred by Dubbo and Dunedoo.

The high-capacity transmission infrastructure, energy hubs and supporting infrastructure will facilitate the connection of at least 7.7GW of wind, solar and Battery Energy Storage Systems to the National Electricity Market, with network capacity of 4.5 gigawatts by 2028.

Michael Volkermann, Global Head of Project Finance at Deutsche Bank: “Robust grid infrastructure is critical to Australia’s energy transition, and the Central-West Orana Renewable Energy Zone financial close is a major step forward. At Deutsche Bank, we are proud to support this milestone and stand ready to finance the next wave of critical grid network infrastructure.”

The REZ is expected to generate a significant economic boost in the Central-West Orana region and NSW as a whole, supporting more than 5,000 construction jobs at its peak and bringing 20 billion Australian dollars in private investment into the region by 2030.

The ACEREZ partnership was advised by Capella Capital and supported by a syndicate of domestic and international banks.

Deutsche Bank’s Corporate Bank provides a holistic suite of financing solutions spanning project finance, acquisition finance, corporate finance (and others) across the infrastructure and energy markets. The Corporate Bank has been active in project financings in Australia since 2019.