TransGrid advised on funding for latest energy project

Value: Undisclosed.

Area: Energy, projects.

Key players: The legal team advising TransGrid was led by King & Wood Mallesons’ Tim Ma, Brendan Smith, Jo Dodd, Chloe Delahunt-Devlin, Lincoln Smith and Claudia Martin.

Deal significance: Project Energy Connect is the latest initiative coming from TransGrid aimed to deliver a new 900km interconnector between NSW and South Australia.

As per a statement provided by King & Wood Mallesons, the transaction includes a hybrid debt deal with the Clean Energy Finance Corporation as well as a broader funding package.

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“The project is anticipated to unlock the South Australian portfolio of renewables generation, providing a critical link to the load in NSW,” King & Wood Mallesons’ statement noted.

Commenting on the transaction, Tim Ma said: “Congratulations to TransGrid, its Securityholders, the CEFC, the other financiers and all of the advisors on the funding package.

“We are delighted to have assisted TransGrid in delivering this part of a project which will be a key investment into the national energy system. The milestone reflects the commitment of TransGrid, its Securityholders and all of those parties.”