The $490m debt finance package is the single biggest transaction for the company
King & Wood Mallesons (KWM) has assisted Clean Energy Finance Corporation (CEFC) on the single biggest transaction made in the history of the company.
The deal involves a $490m debt finance package to EnergyCo NSW. The investment is sourced from the federal government’s Rewiring The Nation (RTN) Fund.
As per EnergyCo NSW’s estimate, this agreement will provide $240m in nominal benefits to NSW electricity consumers by reducing project costs over the 20-year term of the loan. The financing will support expenditures related to the transmission infrastructure necessary to unlock capacity in the Central West Orana Renewable Energy Zone, KWM said.
The funds will be applied towards buying land for the planned implementation and to acquire biodiversity offset credits to mitigate the impact on biodiversity values in the area. According to KWM ESG head and lead partner Claire Rogers, the financing also “fast tracks NSW’s grid transformation”.
As CEFC’s counsel, KWM collaborated closely with EnergyCo NSW to deliver the commitment through an innovative financing structure on concessional terms.
