Update — 6 November 2026, 12:24 UTC: Frontier has signed the Commonwealth Capacity Investment Scheme Agreement for Waroona Stage One, meeting one of the final conditions for its A$280 million debt financing. In its 6 November ASX announcement, the company said financial close was expected shortly; it did not announce that closing had occurred.
Frontier says the agreement, together with Western Australia’s Reserve Capacity Scheme, provides minimum revenue support through 2042. The federal arrangement provides payments when revenue falls below an agreed floor; its financial terms are confidential. A ceremonial start of major construction is planned for 13 November, while first generation remains targeted for 2028.
Frontier Energy has signed a syndicated facility agreement for up to A$280 million of project debt for the first stage of its Waroona renewable energy development in Western Australia.
The 2 November ASX announcement names Natixis CIB and Sumitomo Mitsui Banking Corporation as the lead lenders. Signing is a step towards financial close, which Frontier expects during November, rather than confirmation that the financing has already closed.
At the time of the 2 November announcement, outstanding conditions included execution of the Commonwealth Capacity Investment Scheme agreement and interest-rate hedging. Frontier forecasts the first debt drawdown in the first quarter of 2027.
The facilities comprise approximately A$250 million for construction and term debt, A$13 million for bank guarantees and A$17 million for a debt-service reserve. Alongside July’s A$110 million placement, the company expects them to fund Stage One through first generation in 2028.
Stage One combines 132 MW of solar with an 81.5 MW battery. Frontier says construction is under way at the site about 120 kilometres south of Perth.
Explore solar jobs.
Source: Company announcement.
Image credit: Illustrative Australian solar file photograph: Nyngan Solar Plant, New South Wales, 29 November 2019. Not Frontier Energy’s Waroona project. DiamondIIIXX / Wikimedia Commons, CC BY-SA 4.0. Source photograph; licence. Resized and compressed; same licence retained.
Compiled by Energy People with AI assistance from the linked sources. No interview or on-site reporting is implied.
