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Melbourne to reap benefits of compost facility
King & Wood Mallesons has advised the Clean Energy Finance Corporation on the building of a new state-of-the-art composting facility in Melbourne.
Grace Ormsby
Firm: King & Wood Mallesons (Clean Energy Finance Corporation)
Value: $60 million
Area: Waste management
Key players: KWM’s team was led by partner Jonathan Oldham and supported by senior associate Andrew Vincent and graduate Nick Walker.
Deal significance: The state-of-the-art organic composting plant is a first of its kind and will allow households to place kitchen food scraps and garden cuttings into their existing green bins. This waste will be sent to the facility for conversion into premium compost used in Melbourne’s municipal parks and gardens across the south-east region.
Spanish waste management giant Sacyr will build the Dandenong South facility, which will help achieve a substantial reduction in waste at local landfill sites. The plant, due to commence operation in 2019, has been partially financed through a $38 million loan from the federal government’s Clean Energy Finance Corporation.
Jonathan Oldham said KWM was “again proud to work with our client on the financing aspects of this environmentally important and innovative facility and invest in an emerging market where technology is driving greater environmental outcomes in the waste sector.”
