King & Wood Mallesons (KWM) has advised Palisade Investment Partners on the financing for the development and construction of the historic 111.6 MW Granville Harbour Wind Farm.
Located near Zeehan, Tasmania, the project will feature 31 turbines and is backed by a power purchase agreement with Hydro Tasmania. The project will be developed by Palisade Investment Partners and marks the most significant renewable energy investment in Tasmania to date.
KWM has been involved in this significant project from acquisition through to development, financing and construction, advising Palisade Investment Partners on their initial investment to acquire the project back in November 2017.
KWM's multi-disciplinary team was led by Partners Roderick Smythe, Chris Dynon and Chris Pitson supported by Special Counsel Trudy Sheehan, Senior Associates Sarah Halford, Josh Thorneycroft and Marissa Todkill and Solicitors Christina Crossman and Jahan Navidi.
Commenting on the deal Roderick Smythe said: "We are extremely pleased to help Palisade reach financial close on yet another historic renewable energy project. Our involvement in this project demonstrates KWM's ability to seamlessly integrate different parts of the firm to help Palisade reach its objectives. We look forward to the project entering the construction phase and continuing to support Palisade's renewable energy investments in Australia."
The Granville Harbour Wind Farm follows Palisade's cornerstone Ross River Solar Farm project under the $1bn Palisade Renewable Energy Fund which KWM also advised on.
The Palisade Renewable Energy Fund was established in 2016 to develop a portfolio of renewable energy projects across Australia, with a key focus on wind and solar assets.
The Granville Harbour Wind Farm project represents the latest in a series of renewable energy ventures KWM has acted on including the Ross River Solar Farm, Clare Solar Farm, Darling Downs Solar Project, Bungala Solar Farm, Sapphire Wind Farm, Coopers Gap Wind Farm, Silverton Wind Farm development, the acquisition of the Nyngan and Broken Hill Solar Farms.