PowerChina and Goldwind have secured project financing for the 144MW Cattle Hill wind farm in Tasmania, Australia, from Industrial and Commercial Bank of China, Australia and New Zealand Banking Group and Westpac Banking Corporation.
Construction of the project, located on the eastern shore of Lake Echo, is underway and the wind farm is expected to be fully operational in late 2019.
It will comprise 48 Goldwind 3MW turbines. Boom Logistics is carrying out lifting and mechanical and electrical installation.
Law firm Herbert Smith Freehills advised the two developers on the financing, with KPMG the financial advisor to the lenders.
The Herbert Smith Freehills deal team was led by partners Gerard Pike, Jon Evans, Toby Anderson and Alison Dodd, who were supported by senior associates David Ong and Caroline Rowe and solicitors Dinisi Sirimanne and Beryl Yan.
Evans said: “Goldwind and PowerChina can be proud to have signed the financing package for Cattle Hill wind farm.
“We are excited to have continued our ongoing working relationship with Goldwind in Australia and to have helped PowerChina, which is a huge global player in the power industry, to make its entry into the Australian market.”