BBVA has acted as Joint Sustainability Coordinator in the structuring of Australia’s inaugural “blue loan,” a $170.5 million refinancing for the Mundaring Water Treatment Plant (MWTP) in Western Australia. The transaction, finalised in March 2026, aligns with the International Finance Corporation’s (IFC) Blue Finance Guidelines and marks a significant expansion of the sustainable finance market in the Asia-Pacific region.
Blue finance is an emerging subset of climate finance specifically designed to safeguard clean water access and protect marine and freshwater ecosystems. The MWTP, located near Perth, provides essential drinking water to over 100,000 homes in the Goldfields region and is operated by the Helena Water consortium, which includes Aberdeen Investments, Acciona Agua, and TRILITY.
The loan recognises the plant’s high environmental standards, including a 99% waste recycling rate, zero water loss during operations, and the use of 18% renewable energy.
“We are pleased to support Helena Water to structure the Blue Loan, which highlights the relevance of sustainable finance to the protection and efficient management of scarce water resources,” said Seth Munday, Managing Director for Project Finance Asia Pacific at BBVA.
The project was supported by Commonwealth Bank of Australia (CBA) as Joint Sustainability Coordinator and Planum Partners as advisor. Charles Davis, Managing Director at CBA, noted that introducing blue loans to the Australian market is an “important step” in directing capital toward essential, resilient water infrastructure.
Jaime Gutierrez, Director at Aberdeen Investments, emphasized the community impact: “This project demonstrates how essential infrastructure can deliver real community value while achieving strong environmental outcomes.”
Shaun Newing, CEO of Planum Partners, described the achievement as a “significant milestone” for Australian infrastructure, highlighting the ability of such assets to deliver “clear, measurable environmental outcomes.”
