Allens has advised the lenders on the greenfield financing of the Blind Creek Solar Farm and Battery Energy Storage System (BESS) project to be developed near Bungendore in New South Wales.
The project, being developed by Octopus Investments Australia, represents an important step forward for Australia's clean energy transition.
'Hybrid solar and storage projects like Blind Creek are essential to enabling Australia's shift to a low-carbon economy. This project is at the forefront of renewable investment in Australia, combining generation and storage technology to provide reliable clean power to the grid,' said Partner and Head of Project Finance, Michael Ryan.
'It is testament to the commitment of Octopus Investments Australia, its investors and key lenders that projects of this scale and complexity can be delivered at a time when the need for dispatchable renewable energy has never been greater.'
The financing supports the design, construction, development, operation and maintenance of the solar and battery project, which will deliver green energy through the day and dispatchable power during the evening peak.
Allens has advised on several recent landmark renewable energy and storage transactions, including the financing of Akaysha Energy's $460 million Elaine Battery Energy Storage System, the Gnarwarre BESS, and ACEN Australia's renewable energy portfolio financing.
