White & Case Advises Neoen on Development and Project Financing of 460MW Solar Farm in Australia
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Global law firm White & Case LLP has advised Neoen on the development and project financing of the 460MWDC Western Downs Green Power Hub in south east Queensland, Australia which, when completed, will be Australia's largest solar farm with the capacity to power 235,000 homes.
"The successful financing of the Western Downs Green Power Hub demonstrates the continued appetite amongst lenders for high quality renewable energy projects despite the challenging market conditions," said White & Case partner Ged Cochrane, who co-led the Firm's deal team. "CleanCo's support, coupled with Neoen's proven track record of successfully delivering renewable energy projects, attracted a syndicate of leading domestic and international financial institutions."
The western Downs Green Power Hub is supported by a long term Power Purchase Agreement from CleanCo, a Queensland Government-owned renewable energy company.
The non-recourse project financing was provided by Natixis, Société Générale, Sumitomo Mitsui Banking Corporation, MUFG Bank, Nord/LB, HSBC and Commonwealth Bank of Australia.
The White & Case team in Australia that advised on the transaction was led by partners Ged Cochrane, Adeline Pang and Michelle Keen (all Melbourne) with support from associates Paul Marshall, Ostiane Goh-Livorness, Emma Dobb, Chenez Dyer Bray, Lia Adalia, David Lagesse and Kirsty Campbell (all Melbourne). The lenders were advised by King & Wood Mallesons.
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