The Clean Energy Finance Corporation has made its first foray into the wind sector, putting up $50 million for Victoria’s MacArthur Wind Farm.

The spend is part of a $529 million debt package along with a consortium of six banks to refinance Meridian Energy Ltd's stake in the project. The MacArthur Wind Farm is the largest in the Southern Hemisphere, capable of churning out 420 megawatts, with he ability to power 220,000 average Victorian households.

The Clean Energy Finance Corporation has provided the money to refinance the Wind Farm, saying their participation has encouraged other banks to get on board and make sure the backing is all there.

A spokesperson for Meridian said the money will be a great help, as they are spread between several projects, “We are currently constructing Mt Mercer Wind Farm, south of Ballarat. We are assessing a range of additional renewable energy opportunities across the National Electricity Market. The involvement of the Clean Energy Finance Corporation in the refinancing of the Macarthur Wind Farm will facilitate our ongoing activities in Australia and we look forward to the opportunity for further collaboration.”

Oliver Yates from the Clean Energy Finance Corporation said, ““By participating in this refinancing deal we’re helping send a strong message in Australia that it is possible for developers of large-scale renewable energy projects to successfully complete a development-finance-exit cycle. Our role was to work with the co-lenders to refinance this major renewable project. We are pleased with the response from the market and our co-lenders in our first deal in the wind sector.”