Herbert Smith Freehills has advised Spark Infrastructure on its acquisition of Bomen Solar Farm from Renew Estate.
Bomen Solar Farm will be a 120-megawatt facility built near Wagga Wagga, New South Wales. Construction is scheduled to commence within three months with a total cost at completion expected of approximately $188 million. Commercial operations are expected to commence in the second quarter of 2020.
Bomen Solar Farm will connect into TransGrid’s high-voltage transmission network. On commencement of commercial operations, Bomen Solar Farm will sell power and Large-Scale Renewable Generation Certificates under long-term power purchase agreements with Westpac and Flow Power.
The Herbert Smith Freehills team was led by partners Philip Podzebenko, Kristen Percy, Peter Davis, Toby Anderson and John Angus and supported by senior associates Jayne Walker, Francine Kinkade, Tom Hoare, David Ong, Laurelle Ko, Kimberly Lean and Steven Catanzariti, and solicitors Catie Moore, William He, Jack McDonell, Jacqui Fetchet and Julia Hollis.
Mr Philip Podzebenko said, “We are delighted to have advised Spark Infrastructure on this significant transaction and to have had the opportunity to offer Spark Infrastructure a team which highlights Herbert Smith Freehills’ expertise and strength in the Renewables energy sector.”
Spark Infrastructure’s Chief Executive Rick Francis said, “This is an exciting first step in delivering our Value Build strategy. It is evidence of our commitment to invest in Australia’s renewable energy future through 100% ownership of contracted renewable generation, and adds to our commitment to renewables through our existing electricity transmission and distribution businesses.”
Beon Energy Solutions has been appointed as engineering, procurement and construction contractor. Renew Estate was advised by Norton Rose Fulbright and Westpac was advised by KWM.
This deal is another example of Herbert Smith Freehills’ market-leading work advising on major renewables projects, including in relation to Pacific Hydro’s Haughton Solar Farm, Total-Eren’s Kiamal Solar Farm and Edify Energy’s Darlington Point Solar Farm.