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Powering the switch to renewables

We’re the leading bank to Australian greenfield renewable energy projects. In the last five years1, we’ve helped our clients deliver:

  • Over $10BN2 worth of capital investment
  • Across 28 new projects
  • That’s enough to power the equivalent of 2.6 million homes when completed.

Lending to renewable solutions accounts for over 80% of our total electricity generation funding in Australia3.

Our renewables industry experts are working in partnership with top project developers and corporate off-takers, as well as other financial institutions, to lead Australia’s shift to a low carbon future.


20 years of trailblazing

We’ve been pioneering market innovation in Australian renewable energy finance for two decades:

  • Challicum Hills Wind Farm – 1st project-financed wind farm
  • Woodlawn Wind Farm – 1st wind farm project-financed with no offtake contract
  • Emerald Solar Farm – 1st renewable energy project-financed as a corporate power purchase agreement
  • Kidston/Jemalong Solar Farm – 1st Green Loan globally to be certified under the Climate Bonds Standard Version 3.0
  • New England Solar Farm – 1st solar farm project-financed with no offtake contract.

Your partner in building a sustainable future

Australia’s oldest bank brings a unique understanding of the energy sector and the dynamism of the switch to renewables to its partnerships:

  • Providing deep technical and commercial knowledge to tailor deals and deliver better outcomes
  • Bespoke industry insights and research to empower decision-making
  • Proven experience in delivering to challenging deadlines and timetables to meet the rapidly evolving demands of the industry.

Renewables insights in Westpac IQ

Carbon credit concept. Tradable certificate to drive industry and company in the direction of low emissions in efficiency cost.  Wooden cubes with CO2, US dollars and carbon offsetting solution icons.

Counting the cost of carbon

Reforms to the nation’s Safeguard Mechanism are the latest tool in the Federal Government’s bid to achieve its 2030 and 2050 greenhouse gas emissions targets.

 

Hydrogen’s central role in decarbonising Australia’s economy

Touting benefits of lower costs and greater energy security, Australia’s gas distributors explain their transition plans for a green hydrogen future and what needs to change to make it happen.
 

Hydrogen: Steps towards Australia’s powerhouse plan

CSIRO Hydrogen Industry Mission Leader Patrick Hartley outlines some of the key moves required for Australia to realise its plans to become a major hydrogen exporter in this Q+A for Westpac IQ.

 

Things you should know
  1. To 31 March 2023
  2. Source: Westpac research, project websites and IJ Global League Tables as at 30 May 2023. The $10 billion is the AUD equivalent, converted based on an AUD/USD spot rate as at 30 May 2023, is based on publicly sourced information and represents the project value of these projects to which Westpac, together with other lenders and capital providers, contributed to their funding.
  3. As at 31 March 2023. 

Westpac Institutional Bank’s financing exposures are not limited to green and sustainable financing. For more details of Westpac Institutional Bank’s financing exposures please see westpac.com.au/investor-discussion-pack-FY22 (PDF 6MB)

Westpac Institutional Bank is a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714. This information is correct as at 5 June 2023.  This product is available only to wholesale clients within the meaning of s761G of the Corporations Act 2001. You should consider whether or not this product is appropriate for you. Terms and conditions apply. Copyright 2023 Westpac Banking Corporation.