Herbert Smith Freehills has advised Mandated Lead Arrangers Commonwealth Bank of Australia, Industrial and Commercial Bank of China Limited, Sumitomo Mitsui Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ, Ltd in connection with the limited project financing and potential expansion facility for the 111MW Waterloo wind farm project in South Australia.
In conjunction with this financing, EnergyAustralia sold 75% of its interest in the project to Palisade Investment Partners and Northleaf Capital Partners, and agreed to provide asset management services to the project.
Project Finance Partner Gerard Pike, said: “We are very happy to have helped EnergyAustralia, Palisade Investment Partners, Northleaf Capital Partners and our clients, the Mandated Lead Arrangers, achieve Financial Close for this transaction. There is currently considerable appetite for investments in wind power projects in Australia and the Herbert Smith Freehills team is a market leader in acting for sponsors, financiers, developers and offtakers in this sector”.
The Herbert Smith Freehills team was led by partners Gerard Pike and Lucy McCullagh and supported by solicitors Ged Cochrane and Micaela McLean.
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