Global law firm Ashurst has advised the financiers on the 157 MW Kaban Wind Farm in Northern Queensland for global renewables developer Neoen.
Ashurst acted for the lending syndicate comprising MUFG Bank, Ltd., National Australia Bank Limited, BNP Paribas, The Hongkong and Shanghai Banking Corporation Limited and Norddeutsche Landesbank – Girozentrale.
The financing will be used for the development and construction of the wind farm, comprising of 28 wind tur-bines. It will also fund a 320km transmission line upgrade, which will benefit households from Cairns to Townsville.
The Kaban Wind Farm is the cornerstone project for the northern Queensland Renewable Energy Zone. It is ex-pected to power approximately 95,900 homes, generate 457 GWh of affordable clean energy each year and generate 250 direct jobs during construction.
The project is supported by a 15 year power purchase agreement with CleanCo to provide clean energy for Queensland. It will contribute energy towards CleanCo meeting its target of 1 GW of new renewable energy generation by 2025.
Partner Chris Redden commented:
“We are proud to have advised the financiers on the 157 MW Kaban Wind Farm in Northern Queensland for Neoen. The Kaban Wind Farm is a significant renewable energy project for the region.”
The Ashurst team was led by partner Chris Redden and included partners John Briggs, Paul Newman, Geoffrey Mann, Ian Kellock, Gareth Sage and Tim Mathers, senior associates Paul Wilson, Libby McKillop, Melany Wilson, Andre Dauwalder, Charlotte Britton and Harry Stone, counsel Bronwyn Kirkwood, associates Samantha Marsh, Fiffy Che, Jacklin Molla and Alice Kim, and graduate Joanna Ma.