Foresight, an investment manager, announced that its Australian Renewables Income Fund (ARIF) closed A$700 million (~$453 million) portfolio debt refinancing to strengthen its capital structure and support future growth.
The refinancing consolidates debt across ARIF’s portfolio of ten operating renewable energy projects.
The portfolio facility includes a A$620 million (~$401 million) term loan and an A$80 million (~$52 million) multi-purpose facility, and will be used to refinance existing project finance debt and support ARIF’s development pipeline, further enhancing portfolio diversification.
A consortium of banks comprising ANZ, Westpac, Mizuho, HSBC, and Bank of China provided the financing. RBC Capital Markets acted as financial advisor, and White & Case served as legal counsel to ARIF on the transaction.
The funding received is stated to offer improved pricing, debt sizing, and provide increased flexibility in terms relative to the existing project financing on ARIF assets.
Daniel Beaver, Portfolio Manager of ARIF, commented, “This refinancing marks a significant milestone for ARIF, reinforcing the strength and scale of our operating portfolio and establishing a funding platform to support future growth. ARIF aims to continue investing in high-quality businesses and assets supporting the energy transition across Australia and New Zealand, while maintaining our commitment to delivering attractive returns for our investors.”
ARIF currently has 787 MW of operational renewable energy projects across solar, wind, and hydro, and a pipeline of development projects.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In August, SolAmerica Energy, a developer, owner, and operator of solar projects, secured a $100 million revolving credit facility from Deutsche Bank. The funding will be used for the development of the company’s growing portfolio of projects, including equipment such as solar modules and inverters, as well as project construction.
