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Renewables company advised on financing of NZ-based wind farm
Australasian electricity generation company Tilt Renewables has been advised on the financing of the Waipipi Wind Farm in South Taranaki, New Zealand.
Jerome Doraisamy
Source: facebook.com/pg/VisitHaweraTaranakiNZ/photos
Firm: Gilbert + Tobin (Tilt Renewables); MUFG (financial adviser to Tilt Renewables); Anderson Lloyd (New Zealand legal counsel to Tilt Renewables).
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Deal: G+T has advised Tilt Renewables on the project financing of the 130 megawatt Waipipi Wind Farm (formerly referred to as the Waverley Wind Farm) in South Taranaki, New Zealand. The NZ$241 million construction and NZ$31 million bank guarantee facilities are funded by a syndicate of Australian and overseas commercial banks.
Value: NZ$241 million construction and NZ$31 million bank guarantee.
Area: Banking and infrastructure.
Key players: The G+T team was led by partner Adela Smith, who was supported by senior consultant Lisa Hamilton, special counsel Caroline Mathie and lawyer Felix Buddee.
Deal significance: Speaking about the deal, Ms Smith said: “We are delighted to have yet again assisted Tilt Renewables [in] the development of another milestone project, being the first wind farm in New Zealand to be project financed by international banks.”
“The financing package is a testament to Tilt’s reputation in the market and its fantastic relationship with key lenders,” she added.
