Foresight buys Shell Energy’s 50% stake in 370MW Kondinin wind project
SHEL•Foresight bought Shell Energy’s 50% stake in Kondinin Energy, taking full ownership of the 370MW project. The deal coincided with financial close on the 130MW first stage, which secured A$430 million in debt funding to start construction.
1. Full project ownership
Foresight bought Shell Energy’s 50% stake in Kondinin Energy, taking full ownership of the 370MW project in Western Australia’s Wheatbelt.
2. Stage 1 funding and revenue
The deal coincided with financial close for the 130MW Stage 1 Kondinin Wind Farm. It secured A$430 million of debt funding, enabling construction to start under Foresight’s Australian Renewables Income Fund. Revenue is underpinned by a seven-year power purchase agreement with Synergy covering all Stage 1 output, backed by a 15-year Capacity Investment Scheme contract.
