The project, backed by $250m in financing, was recently sold to a global public infrastructure investor
Ashurst and Herbert Smith Freehills (HSF) have acted on the sale and financing of the 175MW Finley Solar Farm in New South Wales.
Ashurst advised John Laing on its acquisition of the solar farm. Financial details of the acquisition were not disclosed.
HSF advised Australia and New Zealand Banking Group Limited and Westpac Banking Corporation on the $250m project financing of the project.
Located west of Finley, in southern NSW, the project will feature about 500,000 solar panels and make enough electricity to power about 59,000 homes. The sale of the project, developed by ESCO Pacific, completed simultaneously with debt financial close, HSF said. ESCO Pacific was advised by White & Case.
Global head of power and utilities Shane Kyriakou led the Ashurst team. Counsel Lynda Tully principally managed the team, Ashurst said.
The core Ashurst team included partner Kylie Lane and lawyers Ryan Kabat, Lizzie Bird and Jonathan Bisset (corporate); partner Chris Redden and senior associate Douglas Fung (project finance); partner Tanya Denning, senior associate Peter Arnold and lawyer Tristan Shepherd (energy and resources); partner Mark Disney, counsel Laura van den Berg and senior associate Lillian Yeung (infrastructure).
Tax advice was provided by partners Geoffrey Mann and Ian Kellock, assisted by senior associates Bronwyn Kirkwood and Kristina Popova, while senior associate Carol Kahler advised on real estate matters.
On the HSF side, the team was led by partners Elizabeth Charlesworth and Alison Dodd. They were supported by senior associates Emma Zarb and David Ong, solicitors Erin MacMullin, Arnica Mullins, Hiroko Ito and graduates Nicholas Gerovasilis and Phoebe Winch.
