Kaban Wind Farm financing wraps

Kaban Wind Farm financing wraps

28 September 2021 By Emma Ryan

Global law firm Ashurst has advised the financiers on the Kaban Wind Farm, located in Northern Queensland, for Neoen.

Firm: Ashurst (syndicate comprising MUFG Bank, National Australia Bank Limited, BNP Paribas, The Hongkong and Shanghai Banking Corporation Limited, and Norddeutsche Landesbank – Girozentrale).

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Deal: The syndicate have been advised on the financing of the Kaban Wind Farm.

Value: Undisclosed.

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Area: Finance.

Key players: The Ashurst team was led by partner Chris Redden and included partners John Briggs, Paul Newman, Geoffrey Mann, Ian Kellock, Gareth Sage, and Tim Mathers, senior associates Paul Wilson, Libby McKillop, Melany Wilson, Andre Dauwalder, Charlotte Britton, and Harry Stone, counsel Bronwyn Kirkwood, associates Samantha Marsh, Fiffy Che, Jacklin Molla, and Alice Kim, and graduate Joanna Ma.

Deal significance: As per a statement provided by Ashurst, the Kaban Wind Farm is the cornerstone project for the northern Queensland Renewable Energy Zone.

“It is expected to power approximately 95,900 homes, generate 457GWh of affordable clean energy each year and generate 250 direct jobs during construction,” the firm said, noting that the project is supported by a 15-year power purchase agreement with CleanCo to provide clean energy for Queensland”.

“The financing will be used for the development and construction of the wind farm, comprising of 28 wind turbines. It will also fund a 320-kilometre transmission line upgrade, which will benefit households from Cairns to Townsville.”

Commenting further, Ashurst partner Chris Redden said: “We are proud to have advised the financiers on the 157-megawatt Kaban Wind Farm in Northern Queensland for Neoen. The Kaban Wind Farm is a significant renewable energy project for the region.”

Kaban Wind Farm financing wraps
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