Tag: melbourne
Written by Jad on 01 November 2018.
♦ Recent Deals ♦ Australia, Melbourne, Sydney
Herbert Smith Freehills has advised the Australian Renewable Energy Agency (ARENA) in relation to its $23 million grant funding of the Kwinana Waste to Energy Project, located in the Kwinana Industrial Area, 40km south of Perth, Western Australia. The $668 million waste processing facility, which was co-developed by Phoenix Energy Australia Pty Ltd and Macquarie Capital (Australia) Limited, will use moving grate incineration technology to process around 400,000 tonnes of waste a year sourced from various local governments in the Perth Metropolitan Area under long term waste supply agreements. This will generate approximately 36MW of baseload power – the equivalent of up to 50,000 homes – capable of export to the South West Interconnected System (SWIS). The project will be designed, built, operated and maintained by a consortium including by Spanish contractor Acciona and energy services company Veolia Environmental Services (Australia) Pty Ltd with commissioning expected to begin in the fourth quarter of 2020 and the project set to be fully operational by the second quarter of 2021.It will be owned by a consortium including Macquarie and the Dutch Infrastructure Fund. The Herbert Smith Freehills team was led by partners Elizabeth Charlesworth and Alison Dodd who were supported by senior associates Rupert Baker and David Ong and solicitors Yun Yong and Hiroko Ito. Ms Charlesworth said, “With the support of ARENA, the project’s sponsors, the Clean Energy Finance Corporation and the many commercial lenders involved in providing the requisite project finance debt, Perth is set to see a significant portion of its post-recycling residential rubbish diverted from landfill sites to the Kwinana Waste to Energy Project.” “As a result, this innovative, Australian-first project is set to change the way in which we view and process waste in this country,” Ms Charlesworth said. Ashurst advised the sponsors in relation to the project. The lenders were advised by Allens. This deal is another example of Herbert Smith Freehills’ market-leading work in the energy sector. Other recent examples include: • advising Macquarie Capital and the project companies on the project development, corporate sale, offtake arrangements and project financing of the 228MW Lal Lal Wind Farms to be developed in Victoria’s Central Highlands; • advising the financiers on the 87MW greenfield Beryl solar farm project financing and development; • advising the financiers on the project financing of the 530MW Stockyard Hill wind project, which will be the southern hemisphere’s largest wind farm; • advising AGL Energy and lenders on the 453 MW Coopers Gap Wind Farm; and • advising ENGIE and Mitsui on the development of the 119 MW Willogoleche Wind Farm in South Australia.
Written by Jad on 26 October 2018.
♦ Recent Deals ♦ Australia, Melbourne
Global law firm K&L Gates has advised Belectric Australia Pty Ltd (Belectric), a subsidiary of German energy company innogy SE, in its appointment of Downer Group (Downer) to construct Limondale Solar Farm in southern New South Wales. When fully operational, the 349MW solar farm is set to be Australia's largest, generating enough renewable energy to power up to 105,000 homes annually. Construction is due to begin in October and is anticipated to be completed in 2020. The K&L Gates team advising Belectric on all aspects of the appointment was led by energy, infrastructure and resources partner Luke Westmore, who was assisted by senior associate Jordan Lyon and lawyer Nicole Guglielmi. Westmore said: "We are delighted to have assisted Belectric with Limondale Solar Farm, Australia's largest solar project to date. This marks an exciting new chapter for Belectric and a clear intention to grow its business in the region by appointing Downer to this one-of-a-kind project. Furthermore, construction of Limondale Solar Farm is expected to deliver significant economic benefits to the local community by creating up to 400 jobs in its peak, not to mention the ongoing environmental benefits once operational."
Written by Jad on 01 August 2018.
♦ Moves News ♦ Australia, Melbourne
International law firm Pinsent Masons is pleased to announce that Banking and Project Finance partner Jeremy King is joining the firm's Australia practice commencing 1 August. Mr King’s appointment supports Pinsent Masons’ strategy in Australia to expand its project finance offerings in the infrastructure and energy sectors. A partner with Corrs Chambers Westgarth for more than seven years and a partner in Australia for over a decade, Mr King’s primary areas of expertise include project and infrastructure finance, structured asset finance, acquisition finance, corporate finance, and restructuring and workouts. His experience extends to financing for energy and renewables, social infrastructure (including corrections, education, and health care facilities), roads and rail, property, mining and resources, and water and sanitation. Mr King is one of the most peer-recognised lawyers in the industry. Most recently, Jeremy was recognised by The Best Lawyers in Australia in the categories of Banking and Finance Law, Energy Law, Construction/Infrastructure Law, Project Finance and Development Practice, and Equipment Finance Law, Asset Finance Law and Structured Finance Law.” Based in Melbourne, Mr King will support Pinsent Masons’ Sydney and Perth offices, and strengthen the firm’s banking and finance offering across the Asia Pacific region. Anthony Arrow, head of Australia's Finance & Projects team at Pinsent Masons said: “The team at Pinsent Masons extends a warm welcome to its newest partner, Jeremy King. We are thrilled to have on board a partner who is so highly-regarded in the industry, particularly for his banking and finance work and his strong leadership in the pro bono space. “Given the unprecedented growth in Australia’s energy and infrastructure sectors, we look forward to tapping into Jeremy’s significant experience and skillsets to enhance our offerings in the Australian market and the wider Asia Pacific region. “Jeremy’s appointment as partner at Pinsent Masons is symbolic of our fast-growing brand recognition in Australia. It is also testament to the firm's strategic decision to focus on the needs of our clients in the infrastructure and energy sectors across the entire project lifecycle.”
Written by Jad on 27 July 2018.
♦ Recent Deals ♦ Australia, Melbourne, Sydney
Ashurst has advised small business lending platform OnDeck Australia ('OnDeck') in establishing a A$75 million securitisation warehouse provided by Credit Suisse and backed by OnDeck's business loans asset portfolio. OnDeck is a fintech that provides financing for small businesses in Australia and is part of the OnDeck Group which has loaned over A$8 billion to over 80,000 small business owners across the US, Canada and Australia. Lead partner Jennifer Schlosser (Global Markets) commented: "We are delighted to have worked with OnDeck, a leader in the small business lending space. There is an established pattern of Fintechs utilising securitisation funding techniques to support growth and obtain funding stability. Ashurst has been a long-term supporter of Fintechs and continues to lead the market in the Fintech sector, having acted for OnDeck, Get Capital, Brighte, Judo Capital and Study Loans on the establishment of recent funding programmes, as well as having acted for financiers to Prospa, zipMoney, Money Me, Money 3 and Afterpay, among others." Jennifer was assisted by lawyer Jason Wong and graduate Jacqueline King (Global Markets); partners Ian Kellock and Barbara Phair, senior associates Bronwyn Kirkwood and Elke Bremner and lawyer James Sainty (Tax); with partner Phil Trinca (Regulatory). A separate Ashurst team also acted for Perpetual as manager and trustee, which was led by partner Jamie Ng (Global Markets) and included senior associate Eugene Ng, lawyer Bonnie So and graduate Jamie Bang (Global Markets).
Written by Jad on 27 July 2018.
♦ Recent Deals ♦ Australia, Melbourne, Sydney
Herbert Smith Freehills is advising ERAMET SA (ERAMET) on its $A350m off-market takeover bid for ASX-listed Mineral Deposits Limited (MDL). ERAMET and MDL operate the TiZir Joint Venture, which comprises two integrated operating assets, being the Grande Côte mineral sands operation in Senegal and the TiZir Titanium and Iron ilmenite upgrading facility in Norway. The successful takeover bid will allow ERAMET to increase its exposure to TiZir by consolidating the joint venture. ERAMET is listed on the Euronext Paris exchange and is the parent entity of the ERAMET Group, a leading global mining and metallurgical business, which produces manganese, nickel, alloys and other non-ferrous metals for customers worldwide. The ERAMET Group currently has operations in almost 20 countries across five continents and employs approximately 12,600 people. The Herbert Smith Freehills team is being led by partner Tony Damian, together with senior associate Li-Lian Yeo, and solicitors Joshua Santilli and David Southwood. The team is being supported by partner Rebecca Major and of counsel Laurence Vincent from the Herbert Smith Freehills office in Paris. Tony Damian said, “We are delighted to be working with ERAMET on its first Australian acquisition. This deal is a great example of the high levels of cross-border M&A that we are seeing at the moment.” Macquarie Capital is acting as ERAMET’s financial adviser. This deal is another example of Herbert Smith Freehills’ market-leading work in listed mining and resources M&A. Other recent examples include advising OZ Minerals Limted on its takeover of Avanco Resources and Mitsui on its takeover of AWE. In the first half of 2018, Herbert Smith Freehills was ranked 1st by deal count and deal value for completed M&A deals in Australia and New Zealand by Thomson Reuters.