The 130MW first stage of Western Australia’s Kondinin Wind Farm has reached financial close after securing $430 million in debt financing, moving the Wheatbelt project from development into construction.
Foresight announced the milestone on 30 September, with financing provided by ANZ, Commonwealth Bank of Australia, Deutsche Bank, HSBC and Westpac. The infrastructure investor is funding its equity contribution through the Australian Renewables Income Fund.
The deal also consolidates project ownership. Foresight has acquired Shell Energy’s 50 per cent interest in Kondinin Energy, giving it full ownership of the broader 370MW Kondinin Energy Project.
Financial close converts pipeline into work
For contractors and suppliers, financial close is one of the most important milestones in a renewable-energy project because it turns a proposed development into a funded construction program.
Stage 1 now moves into delivery with committed debt, equity and an established ownership structure. That creates procurement demand across civil works, foundations, electrical balance of plant, transport, cranes, substations, grid connection, operations support and local services.
The project is located in Western Australia’s Wheatbelt, where new renewable generation is increasingly being developed alongside agricultural land and regional transmission infrastructure.
Bank appetite for renewable infrastructure remains strong
The five-bank financing syndicate is also notable. Large-scale renewable projects face tighter scrutiny around construction risk, grid access and merchant exposure, yet Kondinin has attracted a broad mix of domestic and international lenders.
That suggests capital remains available for projects that can demonstrate a bankable contracting structure, credible delivery plan and clear route to market.
The broader 370MW Kondinin Energy Project gives Foresight optionality beyond the first stage. If Stage 1 is delivered successfully, follow-on capacity could create a longer pipeline for suppliers and regional contractors.
Construction becomes the next test
With financing secured, execution now becomes the key risk. Wind projects face complex logistics around turbine transport, heavy lifts, road upgrades, foundations and grid commissioning, all of which can affect schedule and cost.
The project’s move into construction therefore shifts attention from development approvals and capital raising to delivery performance on the ground.
For Western Australia’s energy transition, Kondinin adds another substantial project to the build-out of generation needed to support electrification, industrial demand and the state’s changing power mix.
Source: Foresight Group, 30 September 2026.
Featured image: Alex Eckermann / Unsplash.
