Allens has advised a syndicate of 11 domestic and international banks on a $2.3 billion portfolio financing platform for Spanish renewables developer Global Power Generation Australia (GPG Australia).
Jointly owned by Naturgy and an arm of the Kuwait Investment Authority, GPG Australia is a significant player in the renewable energy sector. The financing platform is expected to support the continued development of GPG's 1.8 GW portfolio of renewable energy assets in Australia, including solar and wind farms, and battery energy storage systems.
'We are proud to have advised on this significant transaction which reflects growing investor confidence in Australia's renewable energy market. This portfolio financing platform is a prime example of the innovative funding structures being developed to support the sector's growth,' said lead Partner and Head of Project Finance, Michael Ryan.
The transaction builds on Allens' extensive experience advising on complex renewable energy financings to deliver strategic and commercially focused solutions, including the financings of Squadron Energy's acquisition of CWP Renewables and Fotowatio Renewable Venture's recent renewable energy portfolio.
