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G+T advises on $160 million first stage funding for Haughton Solar Farm Project
Gilbert + Tobin is pleased to have advised the syndicate of banks on funding for Stage 1 of Pacific Hydro’s Haughton Solar Farm Project. The project is located in central Queensland’s Burdekin Shire, about 40km west of Ayr and 60km south of Townsville.
The Haughton Solar Farm is ultimately expected to have a generating capacity of up to 500MW, enough to power approximately 170,000 homes. It will contribute to the reduction of greenhouse gas emissions and assist in reaching greenhouse gas reduction targets in Queensland and make a considerable contribution to the local economy by generating approximately 240 workers during construction and up to 10 permanent jobs.
Lead Partner Simon Lynch said, “We are delighted to have been able to advise Pacific Hydro’s financiers on this milestone solar farm project. The Gilbert + Tobin team was able to bring to bear its long-standing experience in major renewables project development and financing, and achieve a tailored funding package for Pac Hydro and its lenders.”
Stage one will involve generating and connecting 100 megawatts (MW) to the Queensland’s electricity network.
G+T’s team was led by Banking + Infrastructure partner Simon Lynch and consultant Will McCann, and assisted by lawyers Ehren Terenyi, Lindsay Crawford and Dylan Gardner.