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Wind in the sails of Wellington project

Wind in the sails of Wellington project

A consortium is pressing ahead with project plans to build a 113MW wind farm near Wellington in NSW.

Firms: Herbert Smith Freehills (Infigen Energy); Norton Rose Fulbright (financiers: Clean Energy Finance Corporation and NORD/LB)

Deal: Financing for the Bodangora wind farm project has been secured from Clean Energy Finance Corporation (CEFC) and NORD/LB.

Value: $236 million (total project value)

Area: Infrastructure, finance, construction

Key players: The NRF team advising CEFC and NORD/LB was led by partner Jo Crew. Special counsel Joanna Taylor, senior associate Claire Whitney and associates Celia Boyle and Sarah Mulcahy also assisted in the transaction.

The HSF team advising Infigen Energy (Infigen) on the development of the wind farm was led by partners Toby Anderson and Gerard Pike (pictured). Partners Peter Briggs, Kris Percy and David Ryan also assisted in the transaction, with support from executive counsel Peter Davis, senior associates Darren Bick, Daniel Ficyk, Micaela McLean, Phillip Rattenbury, Caroline Rowe and Miles Wadley.

HSF advised Infigen on all procurement, project financing, property and planning aspects of the deal.

Deal significance:

Construction of the 113MW Bodangora wind farm located in regional New South Wales is worth a total project cost of approximately $236 million.

The construction of Bodangora will be overseen by Infigen, in partnership with a consortium comprising GE and CATCON.

The project is supported by an EnergyAustralia power purchase agreement. Under the offtake agreement, EnergyAustralia will purchase 60 per cent of all annual output produced by the wind farm until to December 2030.

The wind farm reached financial close on 21 March and has been partly funded by a $163 million construction facility provided by the CEFC and NORD/LB.

Commenting on the deal, NRF lead partner Jo Crew said that Australia’s renewable energy sector has seen a variety of different projects in recent times.

“The renewable energy sector in NSW and elsewhere in Australia has serious momentum now, and it is pleasing to see a real diversity in the range of projects being developed,” Ms Crew said.

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Wind in the sails of Wellington project
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