White & Case Advises Malakoff Corporation Berhad on Sale of Interest in Macarthur Wind Farm

Press Release
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Global law firm White & Case LLP has advised Malaysian-based and Bursa Malaysia-listed company, Malakoff Corporation Berhad, on the sale of its 50 percent interest in the Macarthur Wind Farm, located in Victoria's Western District.

The Macarthur Wind Farm, Australia's largest wind farm, has been sold to Australian asset manager AMP Capital's Community Infrastructure Fund, the winning bidder in a competitive auction process.

"We are seeing a strong secondary market for quality renewable energy assets in a market that is subject to structural issues," said White & Case partner Nirangjan Nagarajah, who co-led the Firm's deal team. "This transaction demonstrates there is deep pool of investors attracted to well-structured operational large scale clean energy assets in the Australian market."

White & Case partner Joel Rennie, who co-led the deal team, said: "Having advised Malakoff on the refinancing of its interest in Macarthur in 2018, the execution of this sale represents the realisation of a significant milestone for Malakoff in terms of its investment strategy."

Sitting on a 5500ha site, the Macarthur Wind Farm comprises 140 wind turbines and is described as the largest wind farm in the southern hemisphere. It has an installed capacity of 420MW, generating enough power for 220,000 homes.

The White & Case team in Australia which advised on the transaction comprised partners Nirangjan Nagarajah and Joel Rennie, counsel Andrea Reeves and associates Stephen Carlton, Isabella Jarrett, Suzie Porritt, Nick Crawford and Irene Argeres.

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