AMP Power Australia’s 120MW Hillston Solar Farm Project Financing

White & Case has advised Amp Power Australia on the deal. Ashurst has advised the financiers.

Amp Power Australia, the Australian operating company of global developer Amp Energy, completed the project financing of its 120MW Hillston Solar Farm in New South Wales, Australia.

The project financing was provided by an international syndicate of banks comprised of Natixis and Export Development Canada, with Natixis as hedge provider.

Once completed, the Hillston Solar Farm is expected to generate approximately 235,000 GWh per year, which is the equivalent annual power consumption of approximately 48,000 households.

Based in Melbourne, Amp Australia owns 8 projects totaling 1.5GW of Solar Generation assets, and 550MW/1100MWh of BESS. Amp Australia is an integrated platform delivering a balanced portfolio of clean energy assets. The Australia platform acquires, develops, raises debt financing, negotiates power purchase agreements and EPC/O&M agreements, manages construction and provides long-term asset management services for this growing portfolio.

The White & Case team that advised on the transaction was led by partner Joel Rennie (Picture; Sydney) with support from local partner Mark Montag (Sydney), counsel Andrea Reeves (Melbourne), associates Emanuel Blum, Kevin Chen and Isabelle James (all Sydney) and Chris Settle, Stephen Carlton, David Lagesse, Ruveena Kaliannan, Shafinas Djuanda, Kirsten Sugden and Nicolette Tan (all Melbourne).

The Ashurst team was led by partner Chris Redden. Chris was assisted by counsel Douglas Fung, lawyer Fiffy Che and graduate Joanna Ma (Project Finance); partner Dan Brown (International Projects Group); consultant Diane Skapinker and senior associate Robyn Dimis (Real Estate); partner Ian Kellock, counsel Bronwyn Kirkwood and lawyer Laura Scro (Tax); senior associate Phoebe Chen and junior associate Yeqi Fei (Global Markets, China).

Involved fees earner: Dan Brown – Ashurst; Phoebe Chen – Ashurst; Robyn Dimis – Ashurst; Douglas Fung – Ashurst; Ian Kellock – Ashurst; Bronwyn Kirkwood – Ashurst; Chris Redden – Ashurst; Diane Skapinker – Ashurst; Emanuel Blum – White & Case; Stephen Carlton – White & Case; Kevin Chen – White & Case; Ruveena Kaliannan – White & Case; David Lagesse – White & Case; Mark Montag – White & Case; Andrea Reeves – White & Case; Joel Rennie – White & Case; Christopher Settle – White & Case; Kirsten Sugden – White & Case; Nicolette Tan – White & Case;

Law Firms: Ashurst; White & Case;

Clients: AMP Power Australia; Commonwealth Bank of Australia; Export Development Canada; Natixis;

Author: Sonia Carcano