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International JV to develop South Australian wind farm
Two international resources companies have been advised on the development of a $250-million wind farm in South Australia.
Tom Lodewyke
Firms: Herbert Smith Freehills (ENGIE and Mitsui); Gilbert + Tobin (financiers)
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Deal: ENGIE and Mitsui are developing a wind farm on Willogoleche Hill, South Australia, through a joint venture.
Value: $250 million
Area: Projects, energy and resources
Key players: The Herbert Smith Freehills project finance team advising ENGIE and Mitsui was led by partners Gerard Pike (pictured) and Jon Evans, supported by solicitors Matthew Selth and Sarah Oh. The procurement team was led by partner Toby Anderson, supported by senior associate Daniel Ficyk and solicitor Anna Lam.
Deal significance: ENGIE and Mitsui, headquartered in France and Japan respectively, established International Power (Australia) Holdings Limited as a joint venture. The company is set to develop a $250-million wind farm on Willogoleche Hill, approximately 160 kilometres north of Adelaide.
The project will comprise 32 wind turbines, with the capacity to generate 119 megawatts of energy.
Herbert Smith Freehills advised on all aspects of the transaction, including the project financing, procurement, connection, off take, property, planning and environment, according to a statement from the firm.
“We are very pleased to have worked with ENGIE and Mitsui to deliver this outstanding result,” said lead project finance partner Gerard Pike.
“Achieving financial close for new wind farm projects requires a tremendous level of determination and commitment, and so we congratulate ENGIE and Mitsui on this significant achievement.”
Pictured: Herbert Smith Freehills partner Gerard Pike
