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Funding secured for solar farm

Funding secured for solar farm

Mark Waddell

Chinese renewable energy company Goldwind has secured funding for its White Rock Solar Farm in NSW.

Firms: Norton Rose Fulbright (Goldwind); undisclosed (Agricultural Bank of China Limited)

Deal: Goldwind received funding from the Australian Renewable Energy Agency (ARENA) and Agricultural Bank of China Limited for the White Rock Solar Farm project.

Value: $41.4 million

Area: Banking and finance, energy and resources

Key players: The Norton Rose Fulbright team advising Goldwind was led by partners Mark Waddell and Jo Crew, supported by special counsel Simone Alphonse and associate Tom Bramah.

Deal significance: The White Rock Solar Farm will be co-located with Goldwind’s White Rock Wind Farm in northern NSW.

Goldwind is financing the 20-megawatt project with debt from the Sydney branch of Agricultural Bank of China and $5.4 million secured in a competitive funding round from ARENA.

Norton Rose Fulbright advised Goldwind on the financing, construction and operations contracts associated with the solar farm.

“We are very pleased to have worked with Goldwind on another two successful renewables projects,” said lead partner Mark Waddell.

“It is particularly good to see the White Rock Solar Farm, the second co-located wind and solar project developed by Goldwind, get across the line.”

Origin Energy secured $20 million of ARENA funding last year for the Darling Downs Solar Farm project in Queensland, which it subsequently sold to APA Power Holdings.

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