Allens has advised the senior lenders on the portfolio financing of CPE Renewable Investment Unit Trust's (CPERI) portfolio of energy assets, including behind- and front-of-meter solar and battery energy storage systems, embedded networks and multi-utility precincts.
CPERI is a joint venture between Igneo Infrastructure Partners (part of the First Sentier Investors Group) and CleanPeak Energy (CPE). CPE is a specialist Australian-owned investor, developer, and manager of renewable energy infrastructure that was founded in 2017 and has grown rapidly since its inception to become one of the leading distributed energy providers in Australia.
CPERI is a key player in Australia's energy transition. Its generation and storage assets provide green energy to a growing number of major businesses, while its sustainable utility precincts located at Barangaroo, Central Park, Mascot and Tonsley supply a mix of utility services including thermal heating and cooling, embedded network services, recycled water, EV charging and more.
Advised by Citi and provided by a club of ANZ, CBA, MUFG, NAB, OCBC, and Westpac, the financing platform is expected to support the continued development of the CPERI portfolio, including the construction of batteries co-located with existing solar assets.
'We're delighted to have advised the lenders on this significant transaction, which supports the continued expansion of distributed renewable energy infrastructure in Australia,' said lead partner Scott McCoy.
'The transaction points to a growing trend in the Australian market toward portfolio financings, which allow sponsors to aggregate operational assets to secure more competitive debt pricing and flexible terms.'
This transaction builds on Allens extensive expertise in renewable energy portfolio financings having advised on recent transactions for clients including Atmos Renewables, Neoen, Fotowatio Renewable Ventures, Global Power Generation Australia, CWP Renewables, and ACEN Australia.
