$300m IPO proceeds with HSF’s aid

The firm said the Australian renewables investor plans to buy more projects in the US

$300m IPO proceeds with HSF’s aid
Herbert Smith Freehills (HSF) is advising on the ASX debut of a solar energy company.

The global firm is acting for Walsh & Company Investments, the responsible entity of the New Energy Solar Fund, and New Energy Solar Ltd on the latter’s ASX listing and IPO.

New Energy Solar has applied for quotation of the stapled securities and options to be offered in the listing. If granted, the deal creates Australia’s first publicly listed solar-focused investment business, HSF said. 

The IPO is expected to raise as much as $300m for New Energy Solar, a large-scale solar plants-focused investment company. The investor has majority stakes in four utility-scale solar power plants in North Carolina and California with total capacity of 225MW.

New Energy Solar plans to use the proceeds of the offering to acquire a portfolio of 14 solar power plants in North Carolina and Oregon with total capacity of 130MW. The money will also fund the investor’s future projects.

HSF’s team is led by partners Fiona Smedley and Philip Hart. They are supported by solicitors Ben Robinson, Aaron Jones, Michael Burrell, and Isabelle Lamberton.

The firm is pleased that Australia’s solar renewables sector is growing, Smedley said.


Related stories:
HSF launches start-up school in Melbourne
Global firms act in “pioneering” solar project financing

Recent articles & video

UK family lawyers launch mental health resource for divorce clients

Bankruptcy attorney Jamie Sprayregen departs Kirkland & Ellis for Hilco Global

DLA Piper bolsters US-Africa practice with Kalidou Gadio as new co-chair

Lander & Rogers launches workplace law elective at QUT

CE Family Law's Louise Hunter had an Erin Brockovich for a grandma

WFW picks up win at 2024 Australian ADR Awards

Most Read Articles

Two Australian lawyers ascend to partner in major HFW promotions round

ALRC releases anti-discrimination, religious educational institution law recommendations

Three additions enhance G+T's partnership

G+T puts teams on M&A deals