Allens has advised the lenders on a new $1.8 billion portfolio financing for Neoen, comprising a mix of greenfield and operating solar, wind and battery energy storage system (BESS) assets across Australia.
The transaction included a syndicated bank debt package and an Asia term loan. It adds to a number of recent greenfield wind financings on which Allens has advised, following a period of more limited financing activity for new wind generation in Australia.
Partner Scott McCoy said: ‘The transaction reflects continued lender appetite for diversified renewable energy portfolios and is another encouraging example of new wind generation reaching financial close in Australia. With a combination of operating and greenfield wind, solar and battery storage assets, the financing also demonstrates the role portfolio structures can play in supporting investment across Australia’s changing energy mix.’
The transaction builds on Allens’ recent work on major renewable energy portfolio financings, including the $2.7 billion refinancing of Squadron Energy’s renewable energy portfolio, three concurrent financings supporting the expansion of Atmos Renewables’ portfolio, and the financing of Edify Energy’s new clean energy platform.
