The firm acted for National Australia Bank Limited (NAB) and Sumitomo Mitsui Banking Corporation (SMBC) on the project which is FRV’s first utility-scale solar generation facility in Australia to secure financing purely on the basis of a commercial Power Purchasing Agreement without any additional grant funding.
The solar farm will generate more electricity than any other solar farm in Australia once it is completed. It is also seen to boost the region’s economy.
Gilbert + Tobin advised on the provision of debt services and ensured the smooth negotiation and finalisation of the project, connection, land tenure and financing arrangements, all within a tight deadline.
Leading the G+T team are Energy + Resources partner Christopher Flynn and Banking + Infrastructure partner Simon Lynch. The were assisted by lawyers Adela Smith, Tim Kennedy and Corrie Eames.
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Gilbert + Tobin advised the financiers to Fotowatio Renewable Ventures’ (FRV) largest project yet, the multimillion-dollar construction of the Clare Solar Farm project.