AGL Energy Limited’s implementation of the second stage of its Powering Australian Renewables Fund


Allens has assisted AGL Energy Limited with the second stage of its Powering Australian Renewables Fund, an innovative financing initiative designed to unlock investment in the development of large scale renewable energy infrastructure.

QIC joins AGL in the initiative as equity partner on behalf of its clients the Future Fund and those invested in the QIC Global Infrastructure Fund.

Allens advised AGL on the transfer of the first two assets into the fund, which will eventually comprise approximately 1000 megawatts of large-scale renewable energy infrastructure and assets.

A separate team at Allens also advised the Powering Australian Renewables Fund and its Sponsors, AGL and QIC, in relation to the project financing of both assets in connection with their transfer into the fund.

The assets, the Broken Hill Solar Farm and the Nyngan Solar Farm, were both developed by AGL in conjunction with the Australian Renewable Energy Agency and the NSW Government, and commenced operations in 2015.

Allens has assisted AGL Energy Limited with a team including Kate Axup (Picture) (Energy, Resources & Infrastructure), Anna Collyer (Partner, Energy, Resources & Infrastructure), Marc Kemp (Partner, Corporate), Emily Gerrard (Senior Associate, Energy, Resources & Infrastructure), Damien Hughes (Senior Associate, Energy, Resources & Infrastructure), Danielle Jones (Associate, Energy, Resources & Infrastructure), Patrick Boyle (Associate, Corporate), Oliver Hobbs (Associate, Energy, Resources & Infrastructure), Luisa Colosimo (Lawyer, Energy, Resources & Infrastructure), Michael Ryan (Partner, Banking & Finance), Lisa Zhou (Senior Associate, Banking & Finance), Tristan Kelly (Associate, Banking & Finance) and Eve Lonie (Lawyer, Banking & Finance)

Involved fees earner: Kate Axup – Allens; Anna Collyer – Allens; Marc Kemp – Allens; Emily Gerrard – Allens; Damien Hughes – Allens; Danielle Jones – Allens; Michael Ryan – Allens; Lisa Zhou – Allens; Tristan Kelly – Allens;

Law Firms: Allens;

Clients: AGL Energy Ltd.;

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Author: Michael Patrini