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NSW central west solar farm receives financial backing
Allens has advised First Solar on the financing of its 87 megawatt Beryl Solar Farm development, which is set to be located outside Gulgong, NSW.
Emma Musgrave
Firm: Allens (First Solar)
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Deal: First Solar has been advised on the financing of its Beryl Solar Farm development.
Value: Undisclosed
Area: Finance, energy and resources
Key players: The Allens legal team comprised of partners Kate Axup, Tim Stewart, David Donnelly, senior associate Danielle Jones, managing associate Tristan Iredell, associate Nick Swart, law graduate Andrew Mon.
Deal significance: The Beryl Solar Farm will be located outside Gulgong, NSW, and is one of a number of solar assets that First Solar is currently developing, according to a statment from Allens.
“[The solar farm development] will use 260,000 First Solar thin film photovoltaic modules to produce enough solar energy to power 28,000 average NSW homes. Its carbon dioxide displacement is the equivalent of removing 49,000 cars from the road,” the statement said.
“The project will also generate significant economic and environmental benefits for regional NSW, providing approximately 150 jobs during peak construction and ongoing full time positions.”
Commenting further on the deal, Allens finance partner Tim Stewart said: “We're pleased to have continued our work with First Solar to progress this landmark clean energy development”.
“As legal advisers on renewable energy projects across Australia, we're delighted to see the industry going from strength to strength as a viable energy source and a significant contributor to the economy,” added projects partner Kate Axup.
