Global law firm White & Case LLP has advised Neoen on the development and project financing of the 157 MW Kaban Green Power Hub in Queensland, Australia.
"The Kaban wind farm is supported by an innovative, long-term capacity purchase agreement with CleanCo, which is unique in the National Electricity Market," said White & Case partner Joel Rennie, who co-led the Firm's deal team. "That agreement and the consequent strong support Neoen received from the lenders has enabled the realisation of this important project for far north Queensland."
The Project benefits from a 15-year capacity purchase agreement with CleanCo, Queensland’s publicly owned clean energy company. Commercial operation is expected to commence in 2023 with the Project expected to produce 457 GWh of clean energy per annum.
"Australia's renewable energy market is continuing to mature and this transaction demonstrates the continued confidence in the sector amongst both debt and equity investors," said White & Case partner, Adeline Pang, who co-led the Firm's deal team.
The non-recourse project financing for the Project was provided by a syndicate of five lenders: BNP Paribas, HSBC, MUFG, NAB and NORD/LB.
The White & Case team that advised on the transaction was led by partners Joel Rennie (Sydney), Ged Cochrane, Adeline Pang and Michelle Keen (all Melbourne), with support from associates Isabella Jarrett and Kian Newlyn (both Sydney) and Chris Settle, David Lagesse, Kevin Chen and Emma Dobb (all Melbourne).
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