find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
$350m financing for major wind farm

$350m financing for major wind farm

Two firms have acted on the $350 million financing of the Sapphire Wind Farm in northern NSW.

Firms: King & Wood Mallesons (lenders); Norton Rose Fulbright (Sapphire Wind Farm)

Deal: Major financing for Australia's third largest wind farm, Sapphire

Value: $350m

Area: Project financing

Key players: Claire Rogers led the KWM advisory team with assistance from partner Shannon Etwell, senior associates Chris Allfrey and Amy Munro, and solicitors Sarah Grant and Priscilla Hejtmanek.

Deal significance:

Once operational, the Sapphire Wind Farm will provide clean energy to 116,0000 houses, abating 600,000 tonnes of carbon emissions a year with 75 wind turbines.

“The project received a $120m loan from the Clean Energy Finance Corporation (CEFC), which is a positive indication that large-scale greenfield renewable assets can still secure financing despite the uncertainty around the government’s clean energy policy,” Ms Rogers told Lawyers Weekly.

The new wind farm will be the third largest wind farm in Australia.

“Sapphire will have a positive impact on the local community, creating new jobs during construction and providing a clean, sustainable energy alternative for residents once completed,” Ms Rogers said.

“We are very pleased to have been able to leverage our extensive experience financing wind farms across Australia to support our clients on the successful closing of this significant project.”

KWM advised the project lenders, comprised of Commonwealth Bank, Sumitomo Mitsui Banking Corporation, EKF Denmark and the CEFC.

“The debt consists of long term debt provided by CEFC, as well as covered and uncovered long term funding from EKF – the Danish Export Credit Agency,” Ms Rogers said.

“This is supplemented with a shorter term commercial debt tranche – this very much mirrors the trend of investors looking for long term financing solutions to limit refinancing risk.”

Ms Rogers said 2017 is looking reasonably busy in the project finance space, with a number of private assets predicted for the year ahead.

“The pipeline for 2017 is looking very busy with the LPI and Endeavour privatisations, the sale of Westconnex equity, a number of PPPs on the agenda and a resurgence of renewable projects,” she said

“A number of private assets sales are also likely.”

 

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

$350m financing for major wind farm
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Sally Wheeler
Nov 20 2017
ANU College of Law appoints new dean
A distinguished legal academic and the former head of law of a higher education institution in Irela...
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...