News

16/01/18

G+T advises on financing of Loy Yang B Power Station

Gilbert + Tobin today announced it advised Alinta Energy owner, Chow Tai Fook Enterprises (CTFE) on the financing of its acquisition of the 1,000MW Loy Yang B Power Station.

Gilbert + Tobin’s Banking + Infrastructure team advised Alinta/CTFE on the financing aspects of its acquisition of the Victorian brown coal-fired power plant Loy Yang B from Engie and Mitsui. 

The power station supplies close to 20 per cent of Victoria's energy needs, and comes as Alinta expands its generation capacity and market penetration in Australia.

The purchase of Loy Yang B Power Station will enable Alinta Energy to provide more cost-effective electricity to its growing east-coast customer base.

Gilbert + Tobin’s team was led by partners John Schembri and David Kirkland, who were supported by lawyers Corrie Eames, Jessica Kim and Felix Buddee.

John Schembri commented that “we are extremely pleased to have assisted Alinta and CFTE in a deal of this size and complexity, and we look forward to working with the team as they take ownership of this important asset.”

Other advisors involved were Herbert Smith Freehills, White & Case, King & Wood Mallesons, Lazard and Rothschild & Co.

The Banking + Infrastructure team is ranked tier 1 in Chambers Asia Pacific for Acquisition Finance, and has advised on countless energy deals including Beach Energy’s landmark $1.585 billion acquisition of Lattice Energy.

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