Allens has advised John Laing on the $285 million sale of its Australian wind farm assets to First Sentier Investors.
The portfolio comprises interests in six different assets across South Australia, Victoria and Tasmania. John Laing has sold its aggregate interest in 209MW of the total 514MW capacity of the assets.
Allens advised on all aspects of the competitive sale process, which has resulted in a money multiple on John Laing’s original investment of 1.5x.
‘We congratulate John Laing on reaching this important milestone in its global strategy,’ said joint lead Partner Kate Axup.
‘As Australia’s renewables industry continues to grow from strength to strength, the sale demonstrates the ongoing appeal of renewables investments and support for Australia’s transition to clean energy,’ said joint lead Partner Wendy Rae.
This deal adds to Allens’ extensive experience in the energy sector, with the firm continuing to lead complex and broad ranging transactions in the development, acquisition and financing of major energy projects, such as advising TransGrid on the procurement and construction of a proposed 860-kilometre electricity interconnector, Octopus Investments on its first Australian, and largest global, renewable energy investment and Iberdrola on its first Australian renewables acquisition of a hybrid solar and wind asset.