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ACEN Australia advised on multimillion-dollar green loan
Global law firm Herbert Smith Freehills has advised ACEN Australia on its $75 million green loan with the Clean Energy Finance Corporation.
Emma Musgrave
Firm: Herbert Smith Freehills (ACEN Australia)
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Deal: ACEN Australia has been advised on its green loan facilities with the Clean Energy Finance Corporation (CEFC).
Value: $75 million
Area: Renewable energy, finance
Key players: The Herbert Smith Freehills team was led by partner Gerard Pike and solicitors Andrew Julian and Jeremy Soh. The team was supported by Singapore-based partner Rupert Baker and paralegal Fanny Lum.
Deal significance: As per a statement provided by Herbert Smith Freehills, the facility with the CEFC builds on the existing $140 million funding from MUFG Bank and $100 million funding from DBS Bank.
Together, the financing will enable ACEN Australia to fund and facilitate its pipeline of renewable energy projects in Australia, the firm said.
Commenting further, Herbert Smith Freehills lead partner Gerard Pike said: “ACEN Australia’s financing with the Clean Energy Finance Corporation is a fantastic outcome for all involved and will mean ACEN can bring more large-scale renewable energy into construction in Australia quickly, which is what the market needs.”
