The funding was secured after complex negotiations with the Australian government, the lead partner says
Hogan Lovells has helped an energy company secure about $200m in financing for a renewable energy project in Western Australia.
The firm’s Australian infrastructure, energy, resources and projects team counselled Alinta Energy in the negotiations to fund the Chichester Solar Gas Hybrid Project. The team conducted legal due diligence and project financing work, it said.
Northern Australia Infrastructure Facility (NAIF) will provide $90m in funding for the project, while the Australian Renewable Energy Agency (ARENA) will contribute $24.2m. Subordinated debt and equity funding is provided by Alinta Energy.
Hogan Lovells said that the project involves construction of a 60MW solar photovoltaic generation facility at the Chichester Hub, as well as a 60km transmission line linking Fortescue Metals Group’s (FMG) Chichester Hub iron-ore operations with Alinta Energy’s Newman gas-fired power station and a 35MW battery facility, which is expected to be completed in 2021.
The project is expected to increase energy supply security in the Pilbara region and benefit regional communities and pastoral stations, the firm said.
Ros O’Mally, Hogan Lovell’s lead partner, said that the deal entailed complex negotiations with the federal government. The firm’s team also included senior associate Lisa Mazor, associate Adam Aarons, and paralegal Zachary Forrai, who are all based in Sydney.
Hogan Lovells recently appointed Matthew Johnson, a Perth-based partner, to be the firm’s global head of mining.