Allens has advised the finance parties on the successful project financing of the 111MW Templers Battery Energy Storage System project in South Australia.
Natixis acted as sole mandated lead arranger, underwriter and bookrunner, and Bank of China was agent and security trustee. Azure Capital were financial adviser.
The project is the first utility-scale battery to be developed by ZEN Energy, and will reduce South Australia's carbon impact by providing dispatchable, fast-response generation and load.
Allens advised the financiers on all aspects of the project financing, including bankability aspects of the transaction and debt documents.
'The Templers Battery Energy Storage System continues the trend for project financing of utility scale batteries, which play a critical role in the energy transition by supporting grid infrastructure and creating more capacity for renewable energy generation,' said lead Partner Scott McCoy.
'We congratulate ZEN Energy, Natixis and all involved parties on bringing this important project to fruition.'
The advice builds on Allens' extensive experience in battery project financings, with the firm having recently advised on the Koorangie Energy Storage System and the Bouldercombe Battery Project.
