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Herbert Smith Freehills has advised the Clean Energy Finance Corporation (CEFC) on its A$100 million equity investment in the Australian Renewables Income Fund (Fund), which will be managed by the Infrastructure Capital Group. 

The seed assets for the Fund are three wind farms which are currently operational across three Australian states.

The team from Herbert Smith Freehills advising CEFC comprised partner Fiona Smedley, senior associate Yorick Ng, and graduate Julian Vertoudakis.

Fiona Smedley said: “Congratulations to CEFC on this exciting new investment. We are delighted to have worked with CEFC to create another opportunity for institutional investors to increase their exposure to the renewable energy sector through the Australian Renewables Income Fund.”

Yorick Ng added: “Renewables is an investment class that will continue to grow and it has been a pleasure to work with CEFC on their catalytic investment to enable further equity financing for large-scale renewable energy projects.”

Herbert Smith Freehills has advised CEFC on a range of transactions, including its investment commitments to Mirvac’s Build-to-Rent Club, the agriculture platform of Macquarie Infrastructure and Real Assets, and Morrison & Co Growth Infrastructure Fund.