Gilbert + Tobin (G+T) has advised NAB as agent and the syndicate of financiers (National Australia Bank, Westpac, Sumitomo Mitsui Banking Corporation and Bank of China) on the refinancing of the term loan facility for the Clare Solar Farm in Queensland.
The Clare Solar Farm covers 300 hectares and generates 263,100MWh a year. The project, owned by DIF and Lighthouse was one of the first utility-scale solar generation facilities in Australia to secure financing.
The transaction involved a refinancing of the existing facility and the introduction of a new bank group to support the project into the future.
Banking + Projects partner Adela Smith led the G+T team, with support from lawyer Lisa Hamilton and graduate Samuel Buswell.
Adela said “G+T is delighted to have advised the lenders on this refinancing, which will support the financial needs of the Clare Solar Farm well into the future.”
Gilbert + Tobin has one of Australia’s leading energy transaction practices. Landmark deals on which G+T has advised on include advising the PowAR Consortium on the $3 billion take private of Tilt Renewables, Infigen on its competing takeover bids by Iberdrola and UAC for approx. $900 million and Tilt Renewables sale of Snowtown 2 for over $1 billion. Gilbert + Tobin also advises a broad range of developers and contractors in the renewable energy sector in relation to project development.