Herbert Smith Freehills has advised Boco Rock Wind Farm Pty Ltd on the refinancing of its senior project finance facilities for its 113MW(AC) Boco Rock Wind Farm, located 10km south west of Nimmitabel and 30km north of Bombala in the New South Wales Snowy Mountains region.
Construction of the 67 turbine wind farm, which is 100% owned by Thai-listed Electricity Generating Public Company Limited (EGCO), commenced in 2013. The facility produces enough clean energy to power approximately 50,000 homes, eliminating approximately 293,000 tonnes of carbon dioxide emissions each year.
The Herbert Smith Freehills team was led by project finance partner Elizabeth Charlesworth, who was assisted by senior associate Rupert Baker and solicitors Hiroko Ito and Matthew Selth.
Ms Charlesworth said, “We congratulate EGCO on achieving a successful refinancing of their Boco Rock Wind Farm. Ensuring that projects now in their operational phase can achieve competitive refinancing terms demonstrates the maturing of the renewable energy market in Australia and we are delighted to have contributed to this excellent outcome for EGCO.”
White & Case advised the lenders in relation to the refinancing.
This deal is another example of Herbert Smith Freehills’ market-leading work in the renewables sector. Other recent examples include:
advising Macquarie Capital and the project companies on the project development, corporate sale, offtake arrangements and project financing of the 228MW Lal Lal Wind Farms to be developed in Victoria’s Central Highlands;
advising the financiers on the 87MW greenfield Beryl solar farm project financing and development;
advising the financiers on the project financing of the 530MW Stockyard Hill wind project, which will be the southern hemisphere’s largest wind farm;
advising AGL Energy and lenders on the 453 MW Coopers Gap Wind Farm; and
advising ENGIE and Mitsui on the development of the 119 MW Willogoleche Wind Farm in South Australia.