The Clean Energy Finance Corporation (CEFC) is extending its support for Australian innovator Windlab by expanding its corporate debt facility to $10 million.
The revised facility provides Windlab with additional working capital to further the development of its Australian portfolio. This will include a particular focus on additional high hub height turbine opportunities identified using its unique Windscape technology.
CEO of CEFC, Ian Learmonth, said, “We made our first investment in Windlab in 2016, and since then we have been pleased to work with the company as it expands in Australia and internationally.
“This additional finance will further support Windlab’s expansion activities, which includes providing asset management services to Australian renewable projects as well as accelerating work on multiple new renewable developments.”
WindScape is a broad area high resolution wind mapping system originally developed by Windlab scientists while with the CSIRO. The technology has since been extensively developed by Windlab.
