Allens has advised European Energy on the project financing of the Winton North solar and battery hybrid project in Victoria.
The project comprises a 130MW solar farm and a 100MW / 220MWh battery energy storage system and will be financed by Commerzbank AG, Singapore Branch and Société Générale and is backed by power purchase agreements with Amazon.
The transaction further demonstrates the development and realisation of European Energy's pipeline in Australia, a key growth market.
'The successful financing of Winton North underscores the ongoing strength of lender appetite for high-quality renewable energy and storage projects,' said lead partner and Head of Project Finance, Michael Ryan.
'European investors continue to play a significant role in the development and financing of renewable energy projects across Australia as they seek to deploy capital in markets with stable growth opportunities outside of Europe but which also provide sufficient scale to make those capital investments worthwhile.'
Allens has extensive experience advising sponsors, developers and financiers on many first to market hybrid energy projects. The firm has recently advised on the $3 billion project financing of the Smoky Creek & Guthrie's Gap hybrid energy projects being undertaken by Edify Energy and the Blind Creek 300MW solar farm and a 243MW / 486MW battery energy being developed by Octopus Investments Australia in New South Wales.
