- Windlab Limited has entered into a deed of amendment to extend its corporate debt facility with CEFC
Facilitywill see the increase from $3 million to $10 million and the extension to June 2022
- The company is currently developing turbine opportunities identified using a wind mapping technology called WindScape
- Windlab is currently filtering through bids from turbine suppliers for Lakeland Wind Farm and will shortlist suppliers in coming weeks
- Kennedy Energy Park project has experienced delays with
firstenergisation now expected in Q3 2019
Windlab Limited has just entered into a deed of amendment to extend and expand its corporate debt facility with the Clean Energy Finance Corporation (CEFC).
The debt facility has increased from $3 million to $10 million. The deed of
This agreement enables the company to further develop its Australian portfolio, particularly the turbine opportunities identified using WindScape, a world-leading wind mapping technology.
Windscape is used to identify and develop high-quality wind farm sites reducing the risk associated with wind development. This technology has enabled Windlab to efficiently and successfully find the best locations for wind farms anywhere in the world.
Attributable to Windscape, the company currently has 13 projects across three continents including Australia, Africa and North America in its portfolio. Overall Windlab is developing over 50 renewable energy projects, totalling over 7,500 megawatts of potential capacity on a global scale.
Recently, the company has reported on delays at the Kennedy Energy Park Project located in the Flinders Shire of Queensland. Whilst construction has been completed for several months, the completion of registration and its generator performance standards has been delayed. The company is currently negotiating with the project’s EPC contractor to resolve the issue.
Windlab expect first energisation at Kennedy Energy Park will be in the third quarter of 2019.
Lakeland Wind Farm is a developing project located 60 kilometres southwest of Cooktown, Queensland. Windlab is currently filtering through competitive bids from numerous turbine suppliers after the company announced a new tender process for the project’s EPC contract.
Windlab’s technical team is evaluating the responses and will contact preferred suppliers in July 2019. Once operational, Lakeland Wind Farm will provide clean energy for over 50,000 households.