CEFC expands support for Australian innovator WindLab
17 June, 2018
The CEFC is pleased to expand our support for Windlab, an innovative Australian company which is successfully commercialising CSIRO research to help drive renewable energy developments in Australia and overseas.
In a statement to the ASX today, Windlab confirmed it was extending and expanding its corporate debt facility with the CEFC, to $10 million. The revised facility provides Windlab with additional working capital to further the development of its Australian portfolio. This will include a particular focus on additional high hub height turbine opportunities identified using its unique Windscape technology.
CEFC CEO Ian Learmonth said: “We made our first investment in Windlab in 2016, and since then we have been pleased to work with the company as it expands in Australia and internationally.
“This additional finance will further support Windlab's expansion activities, which includes providing asset management services to Australian renewable projects as well as accelerating work on multiple new renewable developments.”
WindScape is a broad area high resolution wind mapping system originally developed by Windlab scientists while with the CSIRO. The technology has since been extensively developed by Windlab.
Windlab Limited (“Windlab”) is a global renewable energy development company. It was established to commercialise world leading atmospheric modelling and wind energy assessment technology, developed by Australia’s premier scientific research institute, the CSIRO. Windlab owns and exclusively utilises this suite of industry best practice tools to identify and efficiently develop, finance, construct and operate high quality wind farms around the world, with considerably greater certainty and substantially less risk.
This technological advantage has enabled Windlab to amass a portfolio of high quality wind farm development sites totalling 7,406 MW of potential capacity across North America, Australia, New Zealand and Southern Africa. Windlab has completed the development of 1,093 MW of capacity across three continents. These projects are either currently under construction or are amongst the best operating projects in their respective markets. For more information visit WindLab
Media release, 2019