Herbert Smith Freehills has advised the financiers on the project financing. White & Case, ICA Partners and Korean law firm Daeryook & Aju advised Hana Financial Investment in relation to the project.
The transaction concerned the A$199 million project financing for Hana Financial Investment’s first renewable energy investment in Australia—the 162 MW Columboola Solar Farm in Queensland.
The solar farm will be constructed near Miles in Queensland’s Western Downs and will power the equivalent of 100,000 homes, or approximately 6 per cent of all homes in the state. CS Energy, a Queensland government-owned energy business, will buy 100 per cent of the output of the solar farm and on sell it to its large commercial and industrial retail customers, including Griffith University, CQUniversity and Queensland University of Technology.
The project reached financial close on 18 September 2020. Its financiers comprise Australia and New Zealand Banking Group (which also acted as Agent and Security Trustee), DBS Bank and Societe Generale.
The Herbert Smith Freehills cross-practice team acting for the financiers was led by partner Gerard Pike (Picture) with support from partner Toby Anderson, senior associate Daniel Ficyk and solicitors Beryl Yan, Will Kennedy and Amelia Murphy.
The White & Case team that advised Hana Financial Investment on the transaction included partners Cameron Watson and Joel Rennie (both Sydney) Michelle Keen and Nirangjan Nagarajah (both Melbourne) and local partner Mark Montag (Sydney), with support from counsel Andrea Reeves (Melbourne) and associates Chris Wallace and Kian Newlyn (both Sydney) and Irene Argeres, Sarah Oh, Joshua Butler, Kirsten Sugden and Kirsty Ha (all Melbourne).
Involved fees earner: Toby Anderson – Herbert Smith Freehills; Daniel Ficyk – Herbert Smith Freehills; Will Kennedy – Herbert Smith Freehills; Amelia Murphy – Herbert Smith Freehills; Gerard Pike – Herbert Smith Freehills; Beryl Yan – Herbert Smith Freehills; Irene Argeres – White & Case; Joshua Butler – White & Case; Kirsty Ha – White & Case; Michelle Keen – White & Case; Mark Montag – White & Case; Nirangjan Nagarajah – White & Case; Kian Newlyn – White & Case; Sarah Oh – White & Case; Andrea Reeves – White & Case; Joel Rennie – White & Case; Kirsten Sugden – White & Case; Chris Wallace – White & Case; Cameron Watson – White & Case;