New Energy Solar’s $113 Million Acquisition of Manildra Solar Farm

Allens has advised First Solar on its agreement to sell the Manildra Solar Farm to New Energy Solar.

The acquisition is based on an enterprise value of approximately $113 million (excluding transaction costs and stamp duty).

Located in Central-Western NSW, the 46.7MWAC plant is expected to generate more than 118,0000 megawatt hours of electricity annually. This was announced as being equivalent to displacing more than 91,000 tons of CO2 emissions each year, powering 14,000 average NSW homes or removing 24,000 cars from the road.

Allens advised with a team including Kate Axup (Picture), Jeremy Low (Partner), Danielle Jones (Senior Associate), Stephanie Kam (Associate), Shona Shang (Associate), Kanana Fujimori (Associate)

Involved fees earner: Kate Axup – Allens; Jeremy Low – Allens; Danielle Jones – Allens;

Law Firms: Allens;

Clients: First Solar, Inc.;

Author: Michael Patrini