Baker McKenzie helps SGX lister to achieve financial close on solar farm

Baker McKenzie has guided SGX-listed renewable energy platform Metis Energy Limited (Metis) on reaching financial close and kickstarting the construction of the Gunsynd Solar Farm in southwest Queensland.

The firm provided guidance on the related power purchase agreement (PPA), engineering, procurement and construction (EPC) contracts, and project financing for the 111MW project. According to Baker McKenzie, the achievement of financial closure was a significant milestone for Metis following its acquisition of the site and initial development stages in December 2022.

DBS Bank Ltd, Siemens Bank, and SMBC financed the solar farm, while PCL Construction was tapped for the engineering, procurement and construction works. Upon completion, the Gunsynd Solar Farm is expected to supply electricity to up to 32,000 households in Queensland each year.

Baker McKenzie lead partner Raymond Lou highlighted the solar farm as Metis’ first renewable project in Australia. He confirmed that the firm’s team contributed to “the acquisition of the greenfield project, connection establishment, PPA procurement, EPC tendering, and reaching financial close on a syndicated debt package”.

In addition to Lou, Charlie Detmold (financing), Aylin Cunsolo (connection and PPA), Joshua Saunders (construction) and Sarah Merrett (property) led the Baker McKenzie team in working on the transaction. They received support from the firm’s full projects team, including Dean Bao, Alessandra Pirozzolo, Macy Jong, Taylor Owens, Lewis Wolfe, William Eefting, Joshua Hayes, Kristen Centorame, Calvin White, Anna Vella, Tom Webb, and Rani Narulla.