RATCH–Australia closes portfolio financing of renewable energy assets with SPB's help

Squire Patton Boggs (SPB) has helped independent power producer RATCH–Australia to successfully close the portfolio financing of its renewable energy assets in Australia.

According to RATCH-Australia CEO and CFO Polagorn Kheosiplard, the transaction represents the company’s first green financing framework debt financing effort, demonstrating its commitment to the generation of sustainable clean energy.

“Together with RATCH-Australia’s other renewables and natural gas firming generators around Australia, this financing positions us even better to provide the energy and grid security that Australia’s decarbonising economy needs,” Kheosiplard said.

RATCH-Australia confirmed that the assets financed into the new debt facility are Mount Emerald Wind Farm (180.5MW) in Far North Queensland, Collector Wind Farm (226.8MW) in southern New South Wales, and Collinsville Solar Farm (42.5MW) in Central Queensland. The financing effort attracted extensive interest from major international banks, including Deutsche Bank, MUFG, ING, SMBC, Société Générale, DBS, and Bank of China.

Partner Hai-Dang Nguyen led the SPB team in advising RATCH-Australia on several aspects of the deal, including due diligence, structuring, documentation, and execution. He was supported by partners Tatiana Gotvig, Campbell Davidson, Dannelle Howley, Melissa Koo and Rebecca Heath; tax counsel Louise Boyce; of counsel Kim Hennessy; and director Erin Kidd.

Also included in the team were senior associates Ben Chahoud and Mitch Reynolds and associates Rachel Luo, Poulad Berenjforoush, Jacqueline Tan, Alix Poole, Emma Connolly, Elisa Blakers, Joseph Perkins, Marcus Edwards, David Horton, and Hamish Donovan.

SPB worked closely with RATCH–Australia’s financial adviser RBC Capital Markets. Other advisers tapped to assist with the deal were KPMG, JFA Financial Modelling, Aurora, and RINA.

Meanwhile, King & Wood Mallesons acted for the lenders.