Deutsche Bank has provided a significant financing facility of AUD 2.3 billion (USD 1.4 billion) to Global Power Generation Australia (GPG), a major player in the renewable energy sector, to accelerate the expansion of its portfolio. The transaction underscores Deutsche Bank's commitment to sustainable finance in the Asia Pacific region.

The financing, in which Deutsche Bank acted as both Original Lender and Hedge Counterparty, will support GPG's renewable energy projects. These include a combination of six operational wind farms, one battery storage project, a solar-hybrid with storage, and two photovoltaic plants currently under construction. By the end of 2024, GPG is expected to have 1 GW of operational projects, with an additional 360 MW under construction and 510 MW slated for future development.

Rachel Chia, Head of Project Finance for Asia Pacific at Deutsche Bank, emphasized the continued strong partnership with GPG, highlighting that this milestone brings the bank closer to financing 3.6 GW of renewable energy projects in Australia in 2024. The bank has now financed 24 renewable energy assets in Australia, solidifying its position as a key player in sustainable finance solutions.

This financing facility is an important step for GPG as it continues to expand its renewable energy footprint across the Asia Pacific region.