Chris Redden, David Mason, Gaelan Cooney, and Chris Skordas lead Ashurst’s project finance team. The group advises large renewable energy sector clients and demonstrates a wider prominence in the project development and project financing of emerging sectors in Australia, with the group working on innovative and unique project financings across the region, particularly in the battery space. Skordas, emblematic of the group more widely, advised on some of the largest and most complex project financings in the Australian market in 2022, in both the energy and infrastructure sectors. Associate Kate Latta assists clients including borrowers, sponsors, financial institutions and equity and infrastructure funds. Douglas Fung is key for energy-related project financing matters.
Project finance in Australia
Ashurst
Responsables de la pratique:
Chris Redden; David Mason; Gaelan Cooney; Chris Skordas
Autres avocats clés:
Kate Latta; Douglas Fung
Les références
‘The quality of the advice and output of the Ashurst team is top shelf. They develop a good understanding of their respective clients’ requirements and work to ensure the outcomes are reflected in the documentation.’
‘The individuals in the team work extremely well together and have great experience and knowledge of negotiating and preparing finance documents. The team also have a pleasant way of interacting with their clients and providing sound advice to ensure that we get the best possible outcome.’
‘Outstanding commercial acumen coupled with experience and detailed legal knowledge.’
Principaux clients
Macquarie
Plenary
Thunderbird Operations
Clean Energy Finance Corporation
Woodside
Endeavour Energy
Arafura Resources
Capella Capital
Principaux dossiers
- Advised Macquarie Asset Management’s Green Investment Group and Shell Energy Australia on the development and financing of the 200MW / 400MWh Rangebank Battery Energy Storage System (BESS) in Cranbourne, Victoria.
- Advised the lenders on the project financing on the AU$6bn Perdaman Urea Project in Western Australia, the largest of its kind in Australia.
- Advising Sheffield Resources Limited (Sheffield) on the project financing of its large-scale, high-grade Thunderbird Mineral Sands Project.
Allens
Allens handles the full spectrum of matters concerning infrastructure projects and project financings, with the team being praised by clients for its ‘strong’ experience in handling refinancing and restructuring mandates for large transport companies. Practice head Michael Ryan has vast experience in advising on the financing of significant infrastructure and power projects in Australia. Scott McCoy is ‘well regarded’ for his expansive expertise in acting for lenders, borrowers and sponsors. 'Acknowledged leader‘ Rob Watt and Nick Adkins are key names of note within the team, having deep knowledge of project finance transactions.
Responsables de la pratique:
Michael Ryan
Autres avocats clés:
Scott McCoy; Rob Watt; Nick Adkins
Les références
‘Strong sector experience. Also work well with lenders and experienced at helping them work through complicated matters.’
‘Scott McCoy is well regarded in the industry and has a good track-record of working with banks. Able to clearly articulate difficult commercial positions and able to work with lenders to get them to accept difficult concepts.’
‘Rob Watt is an acknowledged leader in advising on all forms of renewable energy deals, and possesses a comprehensive knowledge of the sector in general. He is a pleasure to deal with and is always available when needed.’
Principaux clients
Capella Capital
Energy Corporation of New South Wales
Northleaf Capital Partners and InfraRed Capital Partners
APT Management Services Pty Ltd and Pacific Partnerships Pty Ltd
Iluka Resources Limited
AustralianSuper and Singtel
CQC Partners
Principaux dossiers
- Advising Iluka Resources Limited on its entry into a risk sharing arrangement including a $1.25bn non-recourse loan under the Australian Government’s Critical Minerals Facility, administered by Export Finance Australia, to fund the construction and commission of the Eneabba Rare Earths Refinery in Western Australia.
- Advised the financier group to the Exemplar Health Consortium, led by Capella Capital, on the financial close of a public-private partnership to deliver the Frankston Hospital redevelopment.
- Advised the Australian Renewable Energy Agency on its grant funding of a renewable hydrogen plant, to be built in the Pilbara in Western Australia.
Corrs Chambers Westgarth
Corrs Chambers Westgarth‘s growing project finance practice, which spans Sydney, Brisbane and Melbourne, ‘has deep capability across levels and continues to provide access to partners and senior associates as required.’ One key name is Clare Corke in Brisbane, who is described by one client as ‘a very astute lawyer who delivers a good legal service.’ Adam Stapledon, who joined the group from A&O Shearman in July 2022, heads up the team, along with James Abbott, who has experience on a wide range of project financings across the infrastructure, energy and resources sectors, including high-value debt financing. Other key elements of the practice are bankable structures mandates and diversified funding sources. Paul Brickley is a key name for government infrastructure projects. Special counsel Julie Myers, also in Brisbane, has a strong grasp of matters relating to bilateral and syndicated facilities.
Responsables de la pratique:
Adam Stapledon
Autres avocats clés:
Clare Corke; James Abbott; Simon Huxley; Paul Brickley; Julie Myers
Les références
‘The team has deep capability across levels and continues to provide access to partners and senior associates as required.’
‘Clare Corke is a very astute lawyer who delivers a good legal service.’
Principaux clients
Acciona
CuString Pty Ltd
Pulse Consortium
Port of Newcastle
Pilbara Ports
Barrick
Incitec Pivot Limited
NAB
ANZ
Westpac
Principaux dossiers
- Advising the ACE Energy consortium on its bid to finance, design, construct, operate and maintain the transmission network infrastructure for the Central West Orana Renewable Energy Zone (CWO REZ), the first renewable energy zone in Australia.
- Advised the financiers to Stonepeak and Spirit Super on the acquisition financing of GeelongPort from SAS Trustee Corporation and Brookfield’s LINX Cargo Care Group.
- Advised Rio Tinto on the funding and security arrangements for the Western Range Mine it is developing in a joint venture with Chinese steelmaker Baowu.
Gilbert + Tobin
John Schembri in Sydney and Alexander Danne in Melbourne lead Gilbert + Tobin‘s project finance team. The group acts for a diverse client base and handles work across a variety of sectors, including healthcare, energy, and transport. Simon Lynch brings a wealth of expertise in banking and finance to the team, in addition to his deep knowledge of matters relating to corporate facilities. Peter Doyle is an expert in infrastructure finance, having assisted with the growth of the firm’s infrastructure practice, which ties in closely with its project finance work.
Responsables de la pratique:
John Schembri; Alexander Danne
Autres avocats clés:
Simon Lynch; Peter Doyle
Les références
‘I regard Gilbert + Tobin’s greatest strength as its ability to bring together a broad set of skills when working for us on a significant project, doing so in a seamless, client-facing manner. On the technology front, we have seen best practice in most areas.’
‘In this team we have worked with Alexander Danne, Simon Lynch, and Peter Doyle. All have the necessary expertise in project finance, understand our business intimately and the have the dedication and enthusiasm to get the job done. The team is also well respected by other law firms making most projects or transactions amiable. Alexander Danne and Simon Lynch are well regarded across the industry.’
Principaux clients
Alinta Energy
APA Group
Cleanaway
HRL Morrison & Co
Infrastructure Capital Group (ICG) / Foresight Group
Healthscope
Macquarie Asset Management (MAM)
Pacific Hydro
Plenary
QIC
Tilt Renewables / PowAR
Tetris Capital
Principaux dossiers
- Advised on the financing for their bid to acquire an 81% joint venture interest (with the State of Victoria retaining 19%) for the operation and modernisation and of the VicRoads motor vehicle registration and licensing and custom plates business.
- Advised NHFIC as long-term financier on the Westmead housing project, being developed by AXA IM Alts and St George Community Housing. The project will include 350 affordable build-to-rent dwellings and is the first project under a broader $300 million financing commitment from NHFIC to deliver multiple projects at scale via a replicable financing model.
- Advised the National Housing Finance and Investment Corporation (NHFIC) on its NZD$1.4 bn acquisition of New Zealand telecommunications businesses, Two Degrees and Orcon from Vocus, to create the third largest telecommunications provider in New Zealand.
Herbert Smith Freehills LLP
Herbert Smith Freehills LLP houses an experienced team which exhibits broad expertise spanning project finance, corporate energy, and infrastructure-related issues. The group acts for a varied client roster of governments, sponsors, operators, banks and investors. Toby Anderson, Erin Wakelin, Geoff Hansen jointly lead the team, with Hansen being a disputes expert, acting in a number of sensitive disputes concerning infrastructure projects. Anderson is known for his broad experience in construction and equipment supply contracts, while Wakelin focuses on public-private partnerships and infrastructure financing issues.
Responsables de la pratique:
Toby Anderson, Erin Wakelin, Geoff Hansen
Principaux clients
NSW Government (including Transport for NSW)
Energy Corporation of NSW
CIMIC Group (including Pacific Partnerships and UGL)
Ferrovial
TasNetworks / Marinus Link Pty Ltd
Macquarie Group
Capella Capital / Lendlease
Australia and New Zealand Banking Limited
Commonwealth Bank of Australia
National Australia Bank
Westpac Banking Corporation
AGL Energy
RES
John Holland
Santos
Horizon Power
Gamuda
King & Wood Mallesons
At King & Wood Mallesons, managing partner Claire Rogers heads the practice, which often handles large financing transactions and is strong in both the public and private sector. The group is able to assist clients with large scale PPP projects, demonstrated through its involvement in the Sydney Metro WSA PPP project, one of the major infrastructure projects in the country. Other highlights include ESG-driven financing, a growing area of focus for the practice. Jo Crew, who joined from Norton Rose Fulbright in June 2022, is a standout member of the team, with know-how in advising both sponsors and financiers. Elsewhere in the practice, Jeff Clark has over three decades of financing experience, Tim Ma is a key name for infrastructure financing, and Rebecca Finkelstein and Amy Maguire are also experienced in a range of financing matters for both sponsors and lenders.
Responsables de la pratique:
Claire Rogers
Autres avocats clés:
Jo Crew; Amy Maguire; Jeff Clark; Rebecca Finkelstein; Tim Ma
Principaux clients
Transport for NSW
Transurban Limited
APA
BHP
Lendlease Corporation Limited
John Holland
Infrastructure NSW
Mirvac
Queensland Airports Limited
CIMIC
AGL
Charter Hall
Port of Melbourne Operations Pty Ltd
Brookfield
Clean Energy Finance Corporation
Future Fund Board of Guardians
Gladstone Ports Corporation
Glencore
Hobart International Airport
Lochard Energy
Macquarie / Macquarie Infrastructure and Real Assets (MIRA)
Multiplex
Perth Airport Pty Ltd
Tasmanian Department of State Growth
Wren House Infrastructure Management Limited
Principaux dossiers
- Acted for the lenders to the Plenary-led Parklife Metro consortium on its sustainability-linked financing for the Sydney Metro Western Sydney Airport PPP.
- Advised Reliance Rail on the successful refinancing of its $1.8bn bank debt.
- Advised Palisade as borrower on a $1.3bn portfolio refinancing, as well as associated corporate restructure and shareholder arrangements.
White & Case
The team at White & Case advises on numerous large projects in Asia and Australia, including construction and infrastructure projects, as well as major energy projects. The group exhibits deep expertise in land access and secondary market sales in relation to both greenfield and brownfield projects. Brendan Quinn, Joel Rennie, and Ged Cochrane jointly lead the team with Quinn having vast experience in advising on the financing of offshore wind farms, Rennie acting for a number of renewable energy companies in refinancing matters, and Chochrane having deep knowledge of acquisition finance and revenue contract related issues.
Responsables de la pratique:
Brendan Quinn; Joel Rennie; Ged Cochrane
Autres avocats clés:
Isabella Jarrett
Les références
‘The key strengths are commerciality of the team, response timeframes, understanding instructions and high-quality legal drafting.’
‘A standout partner is Joel Rennie and a standout senior associate is Isabella Jarrett.’
‘On top of professionalism, the team takes the interest of the project as a priority and adopts a unique client-oriented approach.’
Principaux clients
WestWind Energy
Macquarie Capital
Igneo – Lal lal wind farms acquisition
Neoen
HyperOne
Perdaman Urea Plant
Igneo – Mac Arthur Wind Farm
Nexif Portfolio
Victorian Desalination Plant
CIP Offshore wind
MidOcean – Origin acquisition
Malabar financing
Orion – Thunderbirds mineral sands
FRV Genesis JV – NZ
Principaux dossiers
- Advised WestWind Energy (TagEnergy) on the development and project financing of the A$2bn, 756 MW initial stage of the 1,300 MW Golden Plains Wind Farm in Rokewood in Victoria, Australia.
- Advising Macquarie Capital, the advisory, capital markets and principal investment arm of Macquarie Group, in connection with its investment in Phil-Tower Consortium Inc (PhilTower) to support PhilTower’s acquisition of up to 1,350 towers from Globe Telecom.
- Advised Neoen on the development and project financing of the Capital Battery, a 100 MW/200 MWh lithium-ion battery storage facility near Canberra in the Australian Capital Territory (ACT).
Clayton Utz
Alexander Schlosser, who is head of the firm’s banking and financial services group, leads Clayton Utz‘s project finance team and is well supported by fellow banking and finance expert Kate Casellas, who ‘has an ability to understand complex issues and propose a better outcome for the client‘. The group is regularly engaged in high-value renewables transactions as well as some first-of-their kind financings. More generally, the team has a depth of knowledge of international project financing, and special counsel Tim Stanton, who joined from King & Wood Mallesons in March 2023, only adds to this.
Responsables de la pratique:
Alexander Schlosser
Autres avocats clés:
Kate Casellas; Dan Fitts; Peter Staciwa; Tim Stanton
Les références
‘Kate Casellas is extraordinary, given the volume of work and the complexity involved. Kate has an ability to understand complex issues and propose a better outcome for the client. She keeps to timelines whilst providing a detailed and balanced commercial approach.’
‘Familiarity with our business and industry, and depth of experience.’
Principaux clients
Squadron Energy
Clean Energy Finance Corporation (CEFC)
Copenhagen Infrastructure Partners & Star of the South Offshore Wind Farm
Talison Lithium Pty Ltd
Wyloo Metals Pty Ltd
Victorian Government – Department of Families, Fairness and Housing (DFFH) and Department of Treasury and Finance (DTF)
APLNG
Principaux dossiers
- Advised Squadron Energy on its agreement to acquire CWP Renewables in one of Australia’s biggest renewable energy transactions.
- Advised the CEFC on an investment that will help to deliver greater reliable power through renewable energy to southern Queensland and Australia’s east coast, powering 700,000 homes, fast-track connection of Australia’s largest wind farm precinct to the National Electricity Market (NEM) and decarbonise Australia’s energy sector.
- Acted for Copenhagen Infrastructure Partners and as the project’s general counsel in many aspects of the project’s development, which is the most advanced offshore wind project in Australia.
Clifford Chance
Nadia Kalic, Chad Bochan and Richard Gordon are the trio at the helm of Clifford Chance and work out of the firm’s Sydney office. The group leverages its energy and infrastructure transactional expertise in the Asia Pacific group, and regularly lead transactions in Asia Pacific out of Australia, utilising resources and offices in both Australia and the wider region. Senior associate Dale Straughen, also located in Sydney, is well placed to assist clients with renewable energy matters given his experience in this area. Although the practice is multi-disciplinary, particular sector strengths include banking and finance, energy and resources, and M&A.
Responsables de la pratique:
Nadia Kalic; Chad Bochan; Richard Gordon
Autres avocats clés:
Dale Straughen
Principaux dossiers
- Advised Webuild on the successful restructure and acquisition of the Australian business of the Clough Group out of insolvency.
- Advised Partners Group on its sale of CWP Renewables, a vertically integrated renewable energy platform in Australia, to Squadron Wind Energy Assets.
- Advised the lenders to a consortium led by Morrison & Co on the acquisition financing of a 49% stake in Telstra’s InfraCo Towers business.
Norton Rose Fulbright
Among the strong client base at Norton Rose Fulbright are domestic and international banks as well as global energy companies. The group has an ever-increasing presence in the market, and Kate Muller joined from DLA Piper in August 2022, bolstering the group’s ability to help both financiers and sponsors with energy and infrastructure projects. Syndey-based Lisa Koch runs the team and is well supported by senior associate Justin Goushas. Standout recent mandates for the team are high-value infrastructure and PPP projects, and Rob White is often called upon by clients for these matters.
Responsables de la pratique:
Lisa Koch
Autres avocats clés:
Justin Goushas; Rob White; Kate Muller
Les références
‘The team provides excellent support to clients in the renewable energy and green hydrogen sectors and should be congratulated for also providing such excellent support to the low carbon sector in general over so many years.’
‘Kate Muller is a standout renewable energy practitioner with deep project finance and deal advisory experience. She has a no-nonsense and highly efficient approach to her matters and is capable of delivering excellent and timely advice as and when needed.’
Principaux clients
Anglo American Marketing Limited
FMO and BIX Capital
AirTrunk
North Queensland Airports
Australian Vanadium Limited
ESR Australia
Essential Energy
Principaux dossiers
- Advised Anglo American Marketing Limited on two separate but related transactions for the development of Vitrinite Pty Ltd’s (Vitrinite) Vulcan mine in Queensland’s Bowen Basin.
- Advised North Queensland Airports on the successful refinancing of its senior bilateral and syndicated secured loan facilities with a total commitment of AU$840m.
- Advising Australian Vanadium Limited on the development and financing (including grant funding) of its Australian Vanadium project in Western Australia.
Baker McKenzie
Baker McKenzie stands out for its construction projects expertise and has a history of advising clients on many significant Australian projects. Leigh Duthie is a key name to note for this and leads the team alongside Sean Duffy, who is an infrastructure expert, and Charlie Detmold, who takes the lead on pure project finance mandates. Amongst the practices varied client roster are sponsors, contractors, commercial banks, funds, ECAs and DFIs. When it comes to front-end construction expertise within the team, Matt Coleman is the standout figure. The group also continues to work on cross-border M&A infrastructure transactions.
Responsables de la pratique:
Leigh Duthie; Sean Duffy; Charlie Detmold
Autres avocats clés:
Matt Coleman; Anthony Whelan
Les références
‘Excellent, talented partners.’
Principaux clients
ABC
ALDI
BMD
Cbus Property
China Everbright Bank Co. Ltd
HomeCo
mRNA Victoria
Metis Energy
Monno Pty Ltd and Costa Asset Management
OMERS
Ventia Pty Ltd
Principaux dossiers
- Advised Metis Energy on its entry into the Australian market, including preparing EPC and O&M Agreements.
- Assisted OMERS with negotiating and documenting a committed non-recourse financing package from NAB and RBC in support of their successful bid for TPG Telecom’s mobile towers assets.
- Assisted mRNA Victoria with structuring a deal, developing the project documents and negotiating the arrangements between the Commonwealth Government, the State of Victoria, Moderna Australia and Monash University.
Minter Ellison
Minter Ellison provides clients such as borrowers, financiers, and government departments with an end-to-end, integrated construction, infrastructure and project finance offering. Practice co-heads James Mok and Jordan Phillips are instrumental in this capability. Peter Block is the go-to lawyer for complex infrastructure projects, while Ros O’Mally departed from the firm in October 2022. Elsewhere, Paul Paxton is well known for his PPP project work.
Responsables de la pratique:
James Mok; Jordan Phillips
Autres avocats clés:
Paul Paxton; Peter Block
Principaux clients
Heritage Minerals Pty Ltd
Global Credits Investments Pty Ltd
AMP Capital
Victorian Government
Consortium of REMONDIS and John Laing
Principaux dossiers
- Advising one of the three shortlisted consortia – led by REMONDIS and John Laing, on all aspects of its bid for the financing and procurement of the South East Melbourne waste to energy project (SEMW Project).
- Supported the Victorian Government in a second (VRET#2) program.
- Representing Heritage Minerals Pty Ltd in developing and obtaining funding for the Mount Morgan gold project in Queensland.