Allens has advised a consortium of 12 domestic and international banks, and the Clean Energy Finance Corporation, on the debt financing of Fotowatio Renewable Ventures Australia's renewable energy portfolio, marking one of the largest deals of its kind in Australia.
The portfolio includes nine assets: the Goonumbla, Lilyvale, Metz, Moree, Sebastopol, Dalby, Walla Walla, and Winton solar farms, and the Terang BESS.
'We congratulate all parties on this landmark refinancing, which is the largest solar renewable portfolio financing in Australia to date,' said lead Partner and Head of Project Finance Michael Ryan.
'As renewables increasingly become a mature asset class, we are seeing developers aggregate assets under a single common debt platform, which aims to achieve revenue diversification, offer greater flexibility in managing individual projects and future growth, and mitigate against the underperformance of single assets.'
Allens has played a leading role in many of the renewable portfolio transactions in Australia to date, including the CWP Renewables portfolio, Meridian Renewables portfolio, Atmos Renewables portfolio, Genex Power portfolio, Nexif portfolio and two of the Metlen (formerly Metka) solar portfolios.
