King and Wood Mallesons (KWM) is pleased to have advised Recurrent Energy (a subsidiary of Canadian Solar) in successfully reaching financial close on the project financing of the Carwarp Solar Farm and BESS, expected to commence commercial operation in 2026.
The project, located in North-West Victoria, will comprise a 171MW solar farm and 120MW co-located hybrid battery energy storage system. The project has secured a long-term power purchase agreement with a multinational off-taker.
The Carwarp Energy Park will play a fundamental role in meeting Victoria’s renewable energy targets and, once constructed, will comprise 243,000 high-efficiency Canadian Solar modules, producing 405 GWh annually — enough to power approximately 88,000 households.
KWM acted as legal advisor on the overall project development including construction, grid connection and offtake contracting as well as on property, planning and project financing workstreams – a testament to how KWM’s multidisciplinary team works together efficiently and well.
The KWM team was led by Partners Josh Thorneycroft (Projects/Energy), Chris Dynon (Construction/Finance) and Chris Pitson (Property) with support from Solicitor Madeleine Pitman (Projects/Energy), Senior Associate Emma Reed (Construction), Solicitor David Kennelly (Finance), legal consultant Damiano Castelli and Solicitor Matt Crompton (Property).
Recurrent Energy’s Associate General Counsel, Jahan Navidi, said
“We were pleased to have KWM’s assistance to reach financial close on our Carwarp project.”
Commenting on the deal, Josh Thorneycroft said:
"It was a pleasure to assist Recurrent Energy on this market leading renewable energy project. We look forward to seeing the benefits the project will provide to Victoria’s north-western grid, as well as the possibility of increased investment in hybrid projects in Australia”.
KWM continues to advise clients on market leading renewables transactions as part of Australia’s clean energy transition, having recently advised ENGIE to reach successful financial close of the Goorambat East Solar Farm and Aula Energy to reach successful financial close of the Boulder Creek Wind Farm.
