Allens Arthur Robinson recently acted for the Commonwealth Bank of Australia, Westpac and WestLB as financiers on Alinta’s second $121.5 million, 140MW cogeneration plant at Pinjarra in WA. The cogeneration arrangements involved Alinta supplying steam to Alcoa for refinery use and supplying electricity into the southwest WA electricity grid. The two plants and Alinta’s Walkaway Wind Farm near Geraldton will add up to 370MW of electricity to the state’s grid within two years.
A year’s supply of electricity from the cogeneration unit will produce 450,000 tonnes less in greenhouse emissions than a similar sized coal fired plant. Phillip Cornwell, AAR’s practice group leader for project finance said Alinta aimed to install more cogeneration units at Alcoa’s refineries.