Herbert Smith Freehills has advised Fotowatio Renewable Ventures (FRV) on its solar power plant in Clare, Queensland which, when built, will generate more electricity than any other solar plant in Australia.
HSF advised FRV on all aspects of the transaction including engineering, procurement and construction, project financing, off-take and land access arrangements.
The firm’s team was led by partners Toby Anderson and Brendan Quinn, supported by senior associate Daniel Ficyk and solicitors Matthew Selth, Elise Bulla and Alena Kosmin.
Gilbert + Tobin recently
confirmed that it acted for National Australia Bank Limited and Sumitomo Mitsui Banking Corporation, the financiers to the Clare solar power plant project.
The 100 MW Clare solar farm is the renewable energy firm’s largest project to date in Australia. Apart from its size, it will be Australia’s most powerful solar farm due to its single axis tracking technology.
The project is supported by a power purchase agreement under which Origin Energy purchase 100 per cent of the electricity and large scale renewable energy certificates. Located about 35km from Ayr in north Queensland, construction of the project is due to begin early this year and is expected to take 12 months.
Toby Anderson said: “Our team has worked very closely with FRV to reach this milestone. Achievement of financial close was due to a huge level of work and commitment from all involved. It will be fantastic to see construction of this landmark solar farm commence and then become operational.”
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