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Darlington Point Solar Farm secures refinancing
One of Australia’s largest solar farms has been refinanced by a team of four banks after operating on a commercial scale since 2020.
Lauren Croft
Firm: Herbert Smith Freehills (Bank of China Limited, Sydney branch; Commonwealth Bank of Australia; Deutsche Bank AG, Sydney branch, and Westpac Banking Corporation)
Value: Undisclosed
Area: Energy and infrastructure
Key players: The HSF team was led by partners Elizabeth Charlesworth and Clare Smethurst and supported by executive counsel Amelia Fleming, senior associate Michael Lake, solicitor Nicholas Gerovasilis and graduate Calida Tang.
Deal significance: The solar farm, which is one of Australia’s largest, comprises close to 1 million solar panels in the Murrumbidgee Shire of western NSW and is managed by Octopus Investments. Financing for the solar farm was originally obtained in December 2018, and it commenced commercial operations in late 2020.
Commenting on the deal, the firm said they were “pleased to have advised the lenders on the refinancing of the Darlington Point Solar Farm, currently one of the largest solar farms connected to the National Electricity Market, ultimately helping to drive Australia’s transition to clean energy”.
Allens was the legal adviser to the borrower, and Elgar Middleton was its financial adviser.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
