This is a first-of-its-kind transaction in Australia, the firms say
DLA Piper and King & Wood Mallesons (KWM) have helped push forward a new waste management facility in Melbourne.
DLA Piper advised Sacyr Environment Australia on financing arrangements and project documents for the development, construction, commissioning, operation, and maintenance of an urban organic waste processing facility to be built in Dandenong South.
KWM acted for the Clean Energy Finance Corporation (CEFC), which provided $38m in financing for the facility, which is valued at $60m. DLA Piper and KWM say that the transaction is a first of its kind in Australia.
Serving a population of 1.2 million, the facility that will recycle organic food waste for eight separate councils across Melbourne’s southeast has an annual capacity of 100,000 tons. It will reduce greenhouse gas emissions in the region and produce soil products for Melbourne gardens.
The DLA Piper team was led by projects partner John Gallagher. Partner Kate Papailiou led on the financing aspects of the deal, partner Rhys Davies advised on planning and environment matters, and partner James Newnham worked on taxation.
The important project represents a first-of-a-kind transaction for Australia and is a significant and positive response to the issue of food waste and greenhouse gas emissions, Gallagher said.
The KWM team was led by partner Jonathan Oldham, who was assisted by senior associate Andrew Vincent and law graduate Nick Walker.
The project is an environmentally important and innovative facility and the CEFC has invested in an emerging market where technology is driving greater environmental outcomes in the waste sector, Oldham Said.
