Herbert Smith Freehills has advised Tilt Renewables on the project development of the Dundonnell Wind Farm. The firm also advised the syndicate of lenders, including Australian and international banks on the financing of the wind farm.
Dundonnell Wind Farm will be developed approximately 23km north-east of Mortlake, in western Victoria. Construction is due to begin in early 2019, with the wind farm expected to be fully operational by September 2020.
The project was successful in its bid to be part of the Victorian Government’s 2018 Renewable Energy Auction Scheme, and has been awarded a long-term Support Agreement by the State.
As the largest successful project of the Renewable Energy Auction Scheme, Dundonnell Wind Farm will have 80 wind turbines with an expected installed capacity of 336MW.
The project was also successful in securing a separate offtake agreement with Snowy Hydro following its Renewable Energy Procurement Program.
Vestas has been appointed as the engineering, procurement and construction contractor and the operation and maintenance contractor for the wind farm and AusNet Services has been appointed as transmission network services provider.
Herbert Smith Freehills partner Toby Anderson and senior associate Daniel Ficyk led the team advising on the project development aspects of the wind farm, including EPC and O&M arrangements with Vestas. Special counsel Michael Voros and solicitor Stephanie McSwiney assisted on planning and land matters.
The Herbert Smith Freehills team acting for the lenders on the financing was led by partner Miles Wadley with assistance from senior associates Nadine Kilpatrick and Amelia Fleming, solicitor Erin MacMullin and graduate Will Kennedy.
Toby Anderson said, “We have thoroughly enjoyed working for Tilt Renewables on the development of Dundonnell Wind Farm and congratulate Tilt on achieving this significant milestone and for securing off-take support from both the State of Victoria and Snowy Hydro.”
Gilbert + Tobin advised Tilt Renewables as borrower’s counsel on the financing.
This deal is another example of Herbert Smith Freehills’ market-leading work in the renewable energy sector. Other recent examples include advising:
- the financiers on the Finley Solar Farm in New South Wales;
- Pacific Hydro on the A$115 million project financing for Haughton Solar Farm (Stage 1) in Queensland;
- Total Eren in respect of the development of the 256MW Stage 1 of the Kiamal Solar Farm in Victoria; and
- Synergy on the establishment of Bright Energy Investments, a fund (with co-investment from DIF and CBUS) for the development of renewable energy assets in WA, including the acquisition and construction financing of the Greenough River Solar Farm and the acquisition financing of the Albany-Grasmere Wind Farm.