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Chinese government acquires NSW wind farm

Chinese government acquires NSW wind farm

David Ryan

Two global firms have advised on the sale of a New South Wales wind farm to a Chinese government entity.

Firms: Herbert Smith Freehills (Banco Santander SA); King & Wood Mallesons (State Power Investment Corporation of China)

Deal: SPIC bought the Taralga Wind Farm in New South Wales from Inversiones Capital Global SA (ICG), a wholly owned subsidiary of Banco Santander SA

Value: Undisclosed

Area: Energy

Key players: HSF’s team was led by partners David Ryan (pictured top) and Gerard Pike (pictured bottom), with assistance from senior associate Jon Evans and associates Michael D’Agostino and Arnica Mullins.

Deal significance:

The sale of the Taralga Wind Farm came about through a competitive trade sale process.

ICG was involved in the Taralga project from its initial development, according to a statement from Herbert Smith Freehills.

Reports from Reuters put the sale price at about $300 million.

The Taralga Wind Farm project has a 106.8MW capacity and comes with a 10-year power purchase agreement with Energy Australia.

SPIC also recently purchased the Pacific Hydro business, another deal in which HSF acted for the vendor IFM investors.

Like this story? Read more:

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Chinese government acquires NSW wind farm
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