Herbert Smith Freehills Kramer (HSF Kramer) is pleased to have advised Squadron Energy on the successful financial close of its A$1billion facility from 10 banks for the 100-turbine, 450MW wind farm located in Queensland, Australia (Clarke Creek Wind Farm).
Clarke Creek Wind Farm produces enough electricity to power the equivalent of 330,000 Queensland homes and together with stage 2, will be one of the largest wind farms in Australia.
The HSF Kramer team was led by finance partner Elizabeth Charlesworth, with support from partners Peter Davis, Clare Smethurst and Kathryn Pacey, senior associates Jarrod Gook, Lisa Hamilton, Hugh Pegler, Roger Kong, Sabrina Xiao, Serena Trang and solicitors Cecilia Mak, Jolyn Loh, Daniel Timms, Allira Jeffrey and Joel Blackall.
Elizabeth Charlesworth said, “This project is a significant step forward for Queensland’s renewable energy future. Clarke Creek Wind Farm will provide clean energy ultimately benefiting customers and communities. We are delighted to have supported Squadron Energy on the financing of this milestone transaction, which has shifted the dial for single asset financings in our market and further cemented Squadron Energy as a leader in Australia’s energy transition.”
This transaction further cements HSF Kramer’s position as a leading legal adviser in the Australian energy transition market. Other examples of HSF Kramer’s market-leading work in the renewables and energy storage sector include the firm advising:
- Synergy on the development and financing of the expansion of the Warradarge Wind Farm to provide an additional 108MW of capacity to the South West Interconnected System;
- Octopus Australia on its $900 million hybrid Blind Creek Solar Farm and Battery Project to deliver up to 300MW of solar generation and 243MW / 486 MWh of battery storage capacity;
- the syndicate of lenders on the project financing of Akaysha’s 311MW/1244MWh Elaine Battery Energy Storage System in Victoria; and
- EnergyAustralia on the development and project financing of the 350 MW / 1400 MWh Wooreen Energy Storage System, located in Victoria’s Latrobe Valley.
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