Global law firm Norton Rose Fulbright has advised Goldwind on its White Rock Solar Farm in NSW, which is the latest project to reach financial close under ARENA’s large-scale solar photovoltaics (PV) competitive funding round, and separately on contracts for its 530MW Stockyard Hill Wind Farm project in Victoria, Australia.
White Rock Solar Farm
The firm advised Goldwind on the financing, construction and operations contracts associated with the 20 MW AC solar farm. The project, which has a total deal value of $41.4 million, including $5.4 million of ARENA funding, debt from the Agricultural Bank of China Limited Sydney Branch and equity from Goldwind, will be co-located with the White Rock Wind Farm.
Norton Rose Fulbright partner Mark Waddell commented:
“We are very pleased to have worked with Goldwind on another two successful renewables projects. It is particularly good to see the White Rock Solar Farm, the second co-located wind and solar project developed by Goldwind, get across the line.”
The Norton Rose Fulbright team was led by partners Mark Waddell and Jo Crew, supported by special counsel Simone Alphonse and associate Tom Bramah.
The White Rock Solar Farm is Goldwind’s second co-located solar and wind project, having also developed the Gullen Range Wind and Solar Farms. Norton Rose Fulbright also advised Goldwind on the development and construction of the White Rock Wind Farm, the Gullen Range Wind Farm and the Gullen Range Solar Farm.
Stockyard Hill
Norton Rose Fulbright also advised Goldwind in relation to the engineering, procurement, and construction (EPC) and operation and maintenance (O&M) contracts in respect of the 530MW Stockyard Hill Wind Farm project in Victoria.
It was announced on 8 May 2017 that Goldwind will purchase the Stockyard Hill Wind Farm project from Origin Energy for a price of $110 million. Origin Energy has also agreed to purchase all the energy and renewable energy certificates produced by the project until 2030 under a power purchase agreement.
Goldwind’s successful acquisition of the Stockyard Hill Wind Farm demonstrates the strength of Goldwind’s 3s Smart Wind Turbine technology and the ability for this new turbine technology to transform Australian wind farm projects and drive down the cost of renewable energy in Australia.
The Norton Rose Fulbright team was led by partner Mark Waddell and supported by special counsel Simone Alphonse.
Our team is currently working on over 20 large scale solar projects across Australia. Our work for Goldwind follows our recent roles advising Enel Green Power and Dutch Infrastructure Fund (DIF) on the purchase of the 275 MW Bungala Solar PV project, Wirsol Energy Ltd on the acquisition and financing of the 57.5MW Whitsunday project (Queensland), the 57.5MW Hamilton project (Queensland), and the 50MW Gannawarra project (Victoria) that achieved financial close on March 10, 2017 and ARENA on the funding of the Manildra project (NSW).
