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Palisade acquires Snowtown 2 Wind Farm
Allen & Overy has advised Palisade Investment Partners (Palisade) on its acquisition of the Snowtown 2 Wind Farm from Tilt Renewables.
Emma Musgrave
Firms: Allen & Overy (Palisade Investment Partners); Macquarie Capital (Palisade Investment Partners); Lazard (Tilt Renewables); Ashurst (Palisade’s financers); Gilbert + Tobin (Tilt Renewables); KPMG (all tax matters).
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Deal: Palisade Investment Partners (Palisade) has acquired Snowtown 2 Wind Farm from Tilt Renewables (Tilt).
Value: Undisclosed
Area: M&A
Key players: The A&O team on the deal was led by project finance partner James Abbott, corporate partner Jamie Palmer and projects partner Simon Huxley.
Deal significance: According to a statement provided by Allen & Overy, Snowtown 2 is Australia’s second-largest wind farm, located on the Barunga and Hummocks ranges in South Australia.
“It comprises 90 Siemens Gamesa Renewable Energy Turbines, capable of generating approximately 270 megawatts of energy,” A&O said.
“Palisade is a specialist independent infrastructure manager, offering institutional investors access to Australian infrastructure projects, focusing on mid-market assets. Palisade’s Renewable Energy Fund, also known as PREF, invests in renewable energy assets in the Australian market.”
Commenting further on the transaction, Mr Abbott said: “This was a highly competitive transaction and we congratulate Palisade and its investors on the successful acquisition of a very significant asset within the Australian renewable energy market.”
