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September 27, 2004 -

BNP Paribas closed the AU$ 216 million non-recourse financing for the construction of a 89.1 MW windfarm on 31 Aug 2004.

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BNP Paribas is Co-Lead Arranger & Underwriter, Facility and Security Agent, Account Bank and Hedging Bank in the financing.

The windfarm is located near Geraldton in Western Australia. The key project sponsors are Babcock & Brown, National Power Partners and Carbon Solutions.

The project uses NEG Micon’s NM82/1650 wind turbines and is being constructed by NEG Micon, who will also operate the project in the first few years after commencement of commercial operations. The financing is underpinned by long-term offtake of the green electricity products (under Australia’s federal certificate scheme, MRET) and electricity .

Walkaway is the largest windfarm project to be project financed in Australia to date (surpassing Lake Bonney (80.5MW), which was solely arranged by BNP Paribas in 2003).