KWM advises on project funding for two solar farms valued at AU$375 million

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King & Wood Mallesons (KWM) advised the Clean Energy Finance Corporation (CEFC) on the project funding for the Wemen Solar Farm in Victoria and the Clermont Solar Farm in Queensland. 

The two solar farms are being financed on a fully merchant basis with a long-term debt facility from the CEFC. As sole debt financier, the CEFC has committed to AU $207 million in funding. 

The KWM team was led by Claire Rogers, with support from Senior Associate Chris Allfrey and solicitors Priscilla Hejtmanek and Sam Purcell. 

Commenting on the matter, Claire Rogers said: We are pleased to have supported CEFC on the funding of the two solar farms as the corporation continues to invest in critical energy infrastructure across Australia." 

Wemen Solar Farm and Clermont Solar Farm are being developed by Wirsol Energy Pty Ltd.  Norton Rose Fullbright acted for the borrower. Elgar Middleton were financial advisor. 

In October 2017, KWM also advised CEFC as the sole debt financer in relation to its $94 million funding of the 60MW hybrid Kennedy Energy Park