Mega SA solar project reaches financial close
A global law firm has advised on the impending development of the “biggest solar array in South Australia”.
Firm: DLA Piper (Equis Energy Australia Pty Ltd)
Deal: Equis Energy Australia Pty Ltd (Equis) has been advised on the development of a 127-megawatt solar farm and 132/3Kv substation at Tailem Bend, South Australia.
Value: $200 million
Area: Finance and projects
Key players: The legal team advising Equis was led by DLA Piper finance and projects partner Dan Brown, with the financing workstream lead by partner Kate Papailiou.
The pair were supported by senior associates Bing Wang and Marnie Carroll, and foreign legal associate Kim Eichorn.
Deal significance: Equis is Asia’s largest independent renewable energy developer.
The development of the 127MW solar farm and 132/3Kv substation at Tailem Bend, South Australia, will begin construction shortly, with the project reaching financial close on 14 February. UGL Engineering have been declared as the company doing the construction.
According to a statement from DLA Piper, the $200 million project marks the “biggest solar array in South Australia, with 400,000 solar panels spread across 200 hectares”.
For this deal, the DLA Piper team advised on all aspects of the project, including the tenure documentation, power purchase agreement, connection agreement, finance documents, due diligence and EPC and O&M documents.
“The South Australian renewable energy market is incredibly active and this is the largest solar project to date,” said partner Dan Brown.
“We’re so very pleased to support Equis in this, their first onshore energy deal in Australia.”