Allens has advised a syndicate of domestic and international lenders on the financing of Edify Energy's new clean energy platform. The construction financing of Smoky Creek and Guthrie's Gap solar power stations in Central Queensland as the seed assets.
The transaction supports the development of what will be Australia's largest solar and battery hybrid projects in construction, delivering 720MWp of solar generation and 600MW / 2,400MWh of battery storage. Together, the projects will support industrial demand, strengthen Queensland's energy system and contribute to long-term renewable energy reliability.
Allens advised the lenders on a complex and innovative financing structure, including an Australian-first greenfield renewable energy debt financing platform. The transaction brings together a syndicate of 16 financiers and establishes a scalable foundation for future project delivery in Australia. ICA Partners were financial adviser to Edify Energy.
The projects are supported by long-term solar and battery hybrid services agreements with Rio Tinto and the Australian Government's Capacity Investment Scheme (CIS). Under the CIS agreements, Edify has committed to delivering significant local community and First Nations benefits, alongside substantial local content requirements to support regional industry.
'We are delighted to have supported the lenders on this landmark transaction, which represents a significant step forward in the evolution of Australia's renewable energy financing market,' said lead partner Scott McCoy.
'The innovative portfolio financing structure highlights continued investor confidence in large-scale clean energy infrastructure.'
Allens continues to support clients across the energy transition, advising on complex transactions that enable the development of critical renewable energy infrastructure.
