Deutsche Bank Partners with GPG to Boost Asia Pacific Clean Energy Portfolio

Deutsche Bank has announced its role in a AUD 2.3 billion ($1.46 billion) financing package to support Global Power Generation Australia (GPG) in expanding its renewable energy portfolio across the Asia Pacific region. Acting as the Original Lender and Hedge Counterparty, the bank reaffirms its commitment to sustainable finance and innovation in renewable energy.

The funding will enable GPG to enhance its diverse renewable energy assets, including six wind farms, a solar-battery hybrid project, and battery storage facilities. Two photovoltaic plants currently under construction and a solar-plus-battery hybrid project under development add to GPG’s robust clean energy portfolio. With this expansion, GPG’s operational capacity will reach 1 GW, with an additional 870 MW in development.

Rachel Chia, Deutsche Bank’s Head of Project Finance for Asia Pacific, emphasized the significance of the collaboration. “We are pleased to continue to extend our longstanding relationship with GPG in Asia Pacific through playing a pivotal role in this portfolio financing,” she said.

The financing deal represents Deutsche Bank’s 24th renewable energy transaction in Australia, advancing its commitment to sustainable infrastructure. With this transaction, the bank is on track to finance 3.6 GW of renewable energy projects in 2024, further cementing its role as a global leader in renewable finance.

GPG, established in 2014 by Naturgy Energy Group and the Kuwait Investment Authority, operates across eight countries with its headquarters in Spain. The company’s diversified portfolio highlights its dedication to clean energy innovation and sustainability.

Deutsche Bank’s Corporate Banking division played a crucial role in structuring the financing package, leveraging its expertise in project, acquisition, and corporate finance to meet the needs of growing infrastructure and energy markets. The partnership with GPG underscores the potential of sustainable finance to drive significant progress in renewable energy development.

As renewable energy projects expand globally, this strategic financing highlights the importance of collaboration between financial institutions and energy companies in achieving climate goals.