Infrastructure Capital Group acquires renewable energy investment platform

By Naomi Neilson|20 October 2020
renewable energy investment platform

Infrastructure Capital Group has successfully achieved the acquisition of 75 per cent of renewable energy investment platform Australian Renewable Energy with advice from Ashurst.

Firm: Ashurst (Infrastructure Capital Group)

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Deal: BigLaw firm Ashurst has advised Infrastructure Capital Group (ICG) on the acquisition of renewable energy investment platform Australian Renewable Energy Trust (ARET).

Value: N/A.

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Area: M&A.

Key players: The team was co-led by partners Nigel Deed and Lynda Tully, assisted by senior associates Andy Grant, Lin Ma and lawyers John Saunders and Selena Tang. The team also comprised of partner Chris Redden and counsel Douglas Fung, partner Dan Brown and senior associate Christopher Starkey, partner Andrew Gay and lawyer Andra Lang and senior associate Jane Hall. 

Deal significance: Global law firm Ashurst is advising Infrastructure Capital Group (ICG) on its acquisition of a 75 per cent interest in the Australian Renewable Energy Trust (ARET). ARET is an Australian renewable energy investment platform and partnership being established by ICG’s Australian Renewable Income Fund (ARIF) with Engie Australia & New Zealand (Engie ANZ), which is a joint venture between Engie SA and Mitsui.

The establishment of an Australian renewable energy asset investment platform between ICG and Engie ANZ will form the basis for significant future investments in new renewable energy assets. The scale of the full development pipeline contemplated by this partnership has made it one of the largest renewable energy platforms in Australia. 

Under the agreed arrangements, proposed renewable energy assets will be developed by Engie ANZ’s related parties before the investment platform determines whether to acquire those assets following consultation and input during the development phase. 

Mr Deed said: “We are delighted to be advising ICG, one of Australia’s leading renewable energy investors, on this significant co-investment in the establishment of an Australian renewable energy asset investment platform. The platform will accelerate the development of the joint venture’s pipeline of large-scale wind and solar projects and bring substantial benefits to their local communities.”

Infrastructure Capital Group acquires renewable energy investment platform
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