Allens helps Pacific Energy boost renewable energy project investment

The firm guided the company in obtaining a $350m debt facility

Allens helps Pacific Energy boost renewable energy project investment

Allens has helped Pacific Energy to bolster its investment in renewable energy projects through obtaining a new $350m debt facility.

The facility includes a green loan component valued at $175m, with a sustainable finance framework. With the new addition, Pacific Energy increases its total debt facilities to $1.2bn.

"Pacific Energy is playing a significant role in Australia's energy transition with its focus on renewable energy solutions including solar, wind and battery energy storage systems. It has a critical role to play in delivering on net zero by 2050", Allens lead partner Tim Stewart said.

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On the transaction, Stewart worked alongside senior associate Sally Page and lawyer Cara Kenny from the firm’s banking and finance team, as well as with M&A partner Charles Ashton and associate Alex Knights.

Pacific Energy has been providing sustainable distributed energy to the Australian market for more than forty years.

 

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