Clare Solar Farm project secures Financing


Gilbert + Tobin advised National Australia Bank Limited (NAB) and Sumitomo Mitsui Banking Corporation (SMBC) as financiers to Fotowatio Renewable Ventures (FRV), funding the multimillion-dollar construction of the Clare Solar Farm project.

The Clare Solar Farm project is FRV’s largest project to date and is the first utility-scale solar generation facility in Australia to secure financing purely on the basis of a commercial Power Purchasing Agreement without any additional grant funding. As well as boosting the regional economy, the project, once constructed, will generate more electricity than any other solar farm in Australia.

Gilbert + Tobin provided expert advice in relation to the provision of debt services and ensured the smooth negotiation and finalisation of the project, connection, land tenure and financing arrangements, all within a tight deadline.

The Gilbert + Tobin team was led by Energy + Resources partner Christopher Flynn (Picture) and Banking + Infrastructure partner Simon Lynch, who were assisted by lawyers Adela Smith, Tim Kennedy and Corrie Eames.

Involved fees earner: Christopher Flynn – Gilbert + Tobin; Simon Lynch – Gilbert + Tobin; Adela Smith – Gilbert + Tobin; Tim Kennedy – Gilbert + Tobin; Corrie Eames – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Sumitomo Mitsui Banking Corporation; National Australia Bank;

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Author: Michael Patrini