Allens has advised a syndicate of lenders on an increase to the debt facilities under Neoen's existing portfolio financing. The $1.40 billion expansion will be financed under a syndicated debt facility and an Asian term loan. Several new renewable energy assets will be included in the portfolio and financed under the expanded debt facilities, including a number of greenfield projects.
'This transaction reflects the ongoing evolution of renewable energy financing models, with portfolio financing becoming an increasingly popular approach for large-scale developers,' said Partner Scott McCoy.
'We're proud to have supported the syndicate of lenders and Neoen in this significant expansion, which will help facilitate the development of new renewable energy projects across Australia.'
The deal builds on Allens' strong track record in renewable energy financing. The firm has recently advised on a number of similar transactions, including work with GPG Australia, CWP Renewables, FRV Australia, Atmos Renewables and Genex Power.
