Global law firm White & Case LLP has advised Singapore-based Nexif Energy on the 86 MW Stage 2 expansion of the Lincoln Gap Wind Farm in South Australia.
"This project is the first wind farm in Australia to combine different turbines within the same project being connected to the grid, with Senvion turbines used for Stage 1 and Vestas turbines to be used for Stage 2," said White & Case partner Adeline Pang, who co-led the deal team. "Vestas should be congratulated for combining its extensive grid expertise and knowledge of Senvion technology in order to deliver this pioneering project for Nexif."
The Lincoln Gap Wind Farm currently has 35 operational wind turbines generating 126 MW, which will grow by 24 turbines and 86 MW under the Stage 2 expansion. The Lincoln Gap Wind Farm will ultimately consist of 464 MW of wind turbines and a 10 MW grid scale battery storage.
White & Case advised Nexif on all aspects of the Stage 2 expansion, including the engineering, procurement and construction and the operation and maintenance arrangements, the senior project financing provided by the Clean Energy Finance Corporation (CEFC) and Investec, and the structurally subordinated mezzanine financing provided by funds managed and advised by Westbourne Capital. Senior debt finance was provided by CEFC and Investec with funds managed and advised by Westbourne Capital participating as a mezzanine debt lender.
"Getting Stage 2 of this project back on track after Senvion's insolvency was a significant undertaking by each of the financiers and Nexif, which involved the use of bespoke risk allocation mechanisms," said White & Case partner Joel Rennie, who co-led the deal team. "Stage 2 would not have been possible without the commitment that CEFC, Investec and Westbourne Capital showed to the project and the solution orientated approach each of the parties took in getting Stage 2 to closing."
The White & Case team which advised on the transaction was led by partners Adeline Pang (Melbourne) and Joel Rennie (Sydney) and included associates Isabella Jarret and Chris Wallace (Sydney) and Suzie Porritt, Emma Dobb and Ned Simpson (all Melbourne).
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