Merredin is an 82MW peaking plant located 240km east of Perth, WA. The asset is managed by Palisade, with operations and maintenance outsourced to TW Power Services.
Planum advised Merredin on its 2020 refinancing which delivered a significant improvement in pricing and terms, as well as removing refinancing risk through a long term debt facility of over eleven years that fully amortises over the contracted life. The proceeds were used to refinance Merredin’s existing fixed rate bonds which were issued in 2017, as well as to fund a recap distribution.
The refinancing has provided Merredin’s investors with certainty and stability of returns over the long term though a combination of fixed revenues and a permanent financing solution.