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Tasmanian wind farm finds project financing
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Tasmanian wind farm finds project financing

HSF Jon Evans

Herbert Smith Freehills has advised the sponsors of project financing for a Tasmanian wind farm.

Firm: Herbert Smith Freehills (PowerChina and Goldwind)

Deal: Herbert Smith Freehills has advised PowerChina and Goldwind on the project financing of Tasmania’s Cattle Hill Wind Farm.

Value: Undisclosed

Area: Renewable energy

Key players: HSF’s team was led by partners Gerard Pike, Jon Evans, Toby Anderson and Alison Dodd, with support from senior associates David Ong and Caroline Rowe, and solicitors Dinisi Sirimanne and Beryl Yan.

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Deal significance: Castle Hill Wind Farm is located on the eastern shore of Lake Echo in central Tasmania.

Construction is already underway on the project, which will consist of 48 Goldwind turbines.

At the project’s completion, the wind farm will be capable of producing up to 150 megawatts  of renewable electricity, a statement said.

Herbert Smith Freehills said the investment will be PowerChina’s inaugural investment in the Australian market.

The project financing bank group consists of Industrial and Commercial Bank of China, Australia and New Zealand Banking Group Limited and Westpac Banking Corporation, with each working as a mandated lead arranger.

Mr Evans, one of HSF’s partners leading the deal, said “Goldwind and PowerChina can be proud to have signed the financing package for Cattle Hill Wind Farm”.

“We are excited to have continued our ongoing working relationship with Goldwind in Australia and to have helped PowerChina, which is a huge global player in the power industry, to make its entry into the Australian market,” he continued.

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