Deal: G+T has advised ICG on its partnership with Providence Asset Group (PAG) to develop a series of at least 10 solar farms in Victoria and NSW.

Value: N/A.

Area: M&A, energy and infrastructure.

Key players: Partner and head of energy and infrastructure Alexander Danne led the G+T team, with support from special counsel Matthew O’Connor, lawyers Kestin Brown, Nick Cerche, Grace Chia, Chi Han Yeo and Tom Carberry. Corporate advisory and co-head of corporate advisory partner Neil Pathak provided support on key corporate aspects of the transaction.

Lawyers John McMeniman, Brittany Baker, Arabella Tolé, Rose Kenny and Eric Saliwonczyk also assisted with the due diligence process, and partner and head of climate change Ben Fuller and lawyers Nina Pearse and Ben Hayward advised on environmental and planning aspects of the transaction.

Deal significance: ICG has approximately $3.5 billion of equity under management and is one of Australia’s largest investors in renewable energy, with investments in over 1,166MWAC of operating renewable energy generation capacity, and has been investing in renewable energy for approximately 17 years.

The transaction involved ICG acquiring a majority interest in a solar and storage portfolio, known as the Ginan Solar Portfolio. The interest will be acquired from PAG, a developer, investor and manager of renewable energy projects across Australia with a focus on solar and energy storage systems.

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Mr Danne commented: “We were delighted to work with ICG on this exciting project which is the first investment by ICG into solar farms, and both broadens and strengthens ICG’s renewable energy presence in Australia.”