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Firms help generate wind power

Global and national firms have brought a major wind farm project to financial close.

June 29, 2015 • By Digital
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Toby Anderson
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Firms: Herbert Smith Freehills (RES Australia); King & Wood Mallesons (OPTrust); Gilbert + Tobin (Partners Group).

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Deal: The Ararat wind farm project has secured finance to build 75 turbines in western Victoria from a consortium including RES Australia, GE and Downer, with financing also coming from shareholders Partners Group and Canadian pension fund OPTrust.

 
 

Value: $450 million

Area: Projects and infrastructure.

Key players: The HSF team was led by partners Toby Anderson, Joel Rennie, David Ryan and Andrew Clark. The partners were supported by executive counsel Peter Davis, senior associates Kris Percy, Daniel Ficyk, Marnie Fels and Rupert Baker, and solicitors Calvin Shaw and Michael Gabriel.

OPTrust and Partners Group were advised on the equity capital investment by KWM and G+T, respectively.

Deal significance: The Ararat wind farm project represents several significant developments for the Australian renewables industry. It is one of the largest wind farms to be developed in Australia and the first to reach a financial close since resolution of the federal government’s Renewable Energy Target in June 2015.

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The wind farm is expected to produce enough electricity for about 123,000 homes.

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