Allens has advised market-leading off-grid power supplier, Pacific Energy, on its successful $2 billion refinancing and equity raise.
The transaction included a $400 million upsize of Pacific Energy's existing debt facilities, bringing its total debt facilities to $1.6 billion, including a $550 million green loan component. QIC and its institutional clients separately contributed $370 million to Pacific Energy via a successful equity raise.
'We're proud to have supported Pacific Energy on this milestone transaction, which will help fund its ambitious pipeline of renewable energy projects and contribute to Australia's energy transition,' said Partner Tim Stewart.
'The scale and structure of the refinancing and equity raise reflect the strong market confidence in Pacific Energy's strategy and long-term vision.'
Pacific Energy is a leading Australian provider of sustainable distributed energy. Operating for more than four decades, it has assets at 48 sites nationally and 946MW of contracted capacity under management. Pacific Energy's commitment to decarbonisation and sustainable energy solutions has been a driving force behind its success and growth.
