Allens has advised Powerchina Resources Ltd (PCR) on its purchase of an 80 per cent stake in Goldwind’s Cattle Hill Wind Farm development project.
Located in Tasmania and due for completion in 2019, Cattle Hill Wind Farm will use 48 wind turbines to produce up to 150 megawatts of renewable energy. The wind farm will be one of the largest in Tasmania once completed.
Goldwind will retain the remaining 20 per cent stake in the project.
Allens collaborated with Linklaters to advise on all aspects of the deal in Australia and China, including legal due diligence and transaction documents.
PCR is the overseas investment arm of the Power Construction Corporation of China Ltd, one of China’s biggest multinationals.
This acquisition marks PCR’s entry into the Australian renewable energy market.
Powerchina Resources Ltd through its subsidiaries, operates in electric power project; oil, non-ferrous metals, and mineral resources development; real estate, environmental conservation, utilities, and infrastructures investment; and technical consulting service, import-export trading, and overseas contracting businesses. The company is based in Beijing.
Allens Advised Powerchina Resources Ltd with a team including Kate Axup (Picture), Shona Shang (Associate), Isabella Kelly (Associate), Lucy Woodruff (Senior Associate), Danielle Jones (Senior Associate), Will Rennick (Law Graduate), Georgia Dobbyn (Lawyer), Emily Johnstone (Senior Associate), Nicholas Ng (Partner), Brydon Wang (Associate), Michael Graves (Partner), Jillian Button (Partner), Wendy Rae (Joint Lead Partner), Nick Kefalianos (Senior Associate) and Elysia Longo (Lawyer).
Law Firms: Allens;
Clients: Powerchina Resources Ltd;