In a matter of days, Frontier Energy has secured the finance and an EPC contractor to support Stage 1 of its Waroona renewable energy project in Western Australia.
Frontier has locked away up to $280 million of debt financing through credit-approved commitments from Natixis and Sumitomo Mitsui Banking Corporation, with up to $250 million of this representing a construction facility.
Alongside Frontier’s recent $110 million conditional placement, Waroona is now fully funded through construction and commissioning.
“Our team … are ready to proceed with early works and construction of the project immediately upon settlement of the $110 million conditional placement,” Frontier executive chair Jamie Cullen said.
Want more content like this? Subscribe to Energy and discover all you need to know about the energy transition.
Frontier has also appointed Monford Group as the EPC contractor for the solar–battery hybrid facility to be constructed as part of Waroona Stage 1.
Monford has delivered several renewable energy projects across WA, including the Cunderdin 128-megawatt (MW) solar/55MW BESS project, and the 260MW Glenellen, 132MW Merredin and 134MW Yarranlea solar farms.
Having commenced detailed design and preparation works, Monford is scheduled to mobilise to site in September 2026. Frontier and Monford are hoping to deliver the solar–BESS facility by the second half of 2028.
Monford has surrendered $5 million of the contract value in exchange for 25 million shares in Frontier.
“Our participation as a shareholder aligns us with the long-term success of the project and demonstrates our confidence in Frontier’s vision and growth strategy,” Monford chief executive officer Ciaron Shannon said.
Frontier has 830 hectares of freehold land under its control to develop Waroona, making it one of the largest renewable energy projects in Australia.