White & Case Advises Senior Lenders on Project Financing of Warradarge Wind Farm

Global law firm White & Case LLP has advised the senior lenders to Bright Energy Investments, the renewable energy investment vehicle established by Synergy with DIF and CBUS, on the limited recourse project financing of the development of the Warradarge Wind Farm in Western Australia.

The Warradarge Wind Farm is a 180 MW greenfield project located near Eneabba in Western Australia and upon completion, is expected to generate sufficient electricity to power 135,000 Western Australian homes.

"With Synergy providing a 100% long term offtake solution, construction and long term operation and maintenance contracts provided by Vestas and a reliable wind resource, this project had solid fundamentals which underpinned the strong support it received from the domestic and international bank market," said White & Case partner Joel Rennie, who led the deal team. "This project represents a key asset to enable Synergy to meet its Large-scale Renewable Energy Target (LRET) obligations through Western Australia-based projects, which the lenders were keen to support."

The White & Case team in Australia that advised on the transaction was led by partners Joel Rennie and Adeline Pang, with support from counsel Fiona Curl and associates Isabella Jarrett, Naomi Midha and Barnaby Matthews. Synergy was advised by Herbert Smith Freehills, Macquarie Capital and Deloitte. DIF was advised by King & Wood Mallesons and Ironstone Capital. CBUS was advised by Tetris Capital.

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