Once completed, the solar farm will be the largest in Victoria
Herbert Smith Freehills (HSF) has announced that it advised renewable energy firm Total Eren on the equity sell-down, project financing, and construction of stage one of the Kiamal Solar Farm project.
The Kiamal Solar Farm is located in Ouyen, Victoria. Once completed, stage one of the Kiamal Solar Farm will be the largest solar farm in state.
The HSF cross-practice team was led by finance partners Gerard Pike and Jon Evans; corporate partner Peter Davis; projects partner Alison Dodd; senior associates Nadine Kilpatrick, David Ong, Sebastian Renato, and Ellen Tarasenko; and solicitors Josh Attard, Rachel Oldham, Melisa Chan, Olivia Mitchell, Michael Trent, and Ellen Gandy.
“We are delighted to have assisted Total Eren with the project financing for stage one of Kiamal Solar Farm as their first project in Australia,” said Evans. “This has been a particularly unique and exciting transaction in the context of the current renewables landscape in Victoria and Australia. This is a significant milestone for Total Eren and we are pleased to have advised on the power purchase agreements and the complex financing arrangements, which extend to the construction and maintenance of the synchronous condenser.”
“The success of this project demonstrates the value of Total Eren’s innovative approach and commitment to overcoming the challenges facing renewables projects in the current environment,” said Davis. “We have relished the opportunity to assist Total Eren in bringing CEFC into the project and congratulate them on the collaborative approach that has been so important in achieving this tremendous milestone.”