Herbert Smith Freehills Kramer advises Windlab on Gawara Baya wind energy project

Leading global law firm Herbert Smith Freehills Kramer (HSF Kramer) has advised Windlab on the procurement, $1.7 billion project financing and sale of its Gawara Baya wind energy project in North Queensland (the Project) to Copenhagen Infrastructure Partners (CIP). 

Gawara Baya is a critical wind energy project with the capacity to provide clean power to up to 250,000 Australian homes, displacing 1.2 million tonnes of carbon dioxide from Australia’s energy market every year.

The project is one of the biggest east coast wind farm projects to reach financial close under the Australian Government’s Capacity Investment Scheme and will commence construction very shortly this year. 

HSF Kramer’s projects, energy and infrastructure and real estate teams advised on the split construction and long-term service contracts, power purchase agreements, Capacity Investment Scheme Agreement, the project’s environmental approvals and judicial review, project financing and sale to CIP. 

The team included: Daniel Ficyk, Aidan Higginson and Daniel Timms (Procurement); Gerard Pike and Jeremy Soh (offtake), Gerard Pike, Jarrod Gook, Andrew Thai, Christian Jones and Anna Andronis (Project Finance), Nick Baker, Teresa Sun, Stefan Balwin and Thea Stephenson (Equity Sale), Kathryn Pacey, Elizabeth Poulos and Riley Quinn (Environmental Approvals), and Luke Simpson and Callon Rowbotham (Land Tenure). 

Lead partner, Gerard Pike said: “HSF Kramer is very proud to have helped Windlab to achieve financial close and equity sale completion on Gawara Baya which is a uniquely structured large-scale wind project with grid-forming BESS of significant importance in Queensland and the NEM. The Windlab team worked really hard over many years of development to innovate and overcome many challenges to achieve this milestone for the Project. It has been a pleasure partnering with them. 

“We also congratulate CIP on their acquisition which demonstrates their ongoing commitment to the Australian renewable energy market.”

The deal is another example of HSF Kramer’s market-leading work in the clean energy sector and on renewable energy portfolio financings. Other recent examples include our firm advising:

• Squadron Energy on the refinancing of its $2.7 billion renewable energy asset portfolio in Australia.
• Edify Energy on the first-in-market $3 billion development and project financing of Smoky Creek and Guthrie’s Gap Solar Power Stations (the Projects) in Central Queensland.
• The bank syndicate on the $750 million green portfolio financing of ACEN Australia’s New England Solar and Stubbo Solar projects.
• Tilt Renewables on its $2.25 billion portfolio financing with banks across both the domestic and Asian market.
• HMC Capital on its $950 million renewable energy portfolio acquisition and portfolio financing.