The transaction sustains a global private markets investor’s “strong investment history in the Australian renewable energy space,” the firm says
Clifford Chance has showcased its expertise in the renewable energy sector by advising international private markets investment manager Partners Group on its $180m investment in Victoria’s Murra Warra Wind Farm.
Partners Group had taken charge of the transaction on behalf of its clients, which involved acquiring Murra Wurra II, the second stage of the wind farm. Murra Wurra II will contain 38 GE Cypress 5.5MW turbines, and the total nameplate capacity comes in at 209MW.
Clifford Chance said that Murra Wurra II is expected to “produce enough energy to power 150,000 Australian households and offset 468,000 tonnes of carbon emissions every year.”
“A long-term power purchase agreement between the project and electricity generator and retailer Snowy Hydro has been agreed to for 100% of the capacity,” the firm said.
Currently under construction, Murra Wurra II is expected to be up and running by mid-2022. The construction project is expected to generate 400 jobs.
The deal “continues Partners Group's strong investment history in the Australian renewable energy space,” Clifford Chance said.
The firm’s team was led by partners Andrew Crook, Nadia Kalic and Chad Bochan. They received support from senior associate Dean Bao, and associates Jenny Han, Dale Straughen and Lachlan Conroy.
“The completion of this transaction is testament to our market-leading expertise in renewable energy and our long-standing and valued relationship with Partners Group,” Crook said.
In 2018, Clifford Chance had assisted Partners Group on its investment in the first stage of the Murra Wurra Wind Farm project.