BNY Mellon has announced its appointment as Facility Agent & Security Trustee for an A$400m project finance facility by Macquarie Capital. The facility arrangement will fund construction of Australia’s first thermal Waste-to-Energy (W2E) power generation facility in Kwinana, Western Australia. The transaction closed on October 18, 2018.
When complete, the facility will process up to 400,000 tonnes of household, commercial and industrial waste a year and generate 36MW of baseload power to be exported to the grid. A consortium of energy and services companies will design, construct, and operate the facility.
As Facility Agent and Security Trustee in a project finance facility, BNY Mellon is able to act as an independent third-party agent and service provider, without conflicts of interest in carrying out fiduciary duties in the transaction.
“We are pleased to be furthering Environmental, Social and Governance (ESG) goals in Western Australia with our agent and trustee support in the financing of this project,” said Sonia Chaliha, Global Head of Business Development for Corporate Trust, BNY Mellon. “ESG goals align to our broader goals as a company, as well as contributing to the supply of cleaner and greener energy.”
To learn more about BNY Mellon Corporate Trust, please visit our website.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of September 30, 2018, BNY Mellon had US$34.5 trillion in assets under custody and/or administration, and US$1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.