02 June 2021

KWM advises TransGrid on funding for NSW/SA interconnector

KWM is delighted to have advised TransGrid on all aspects of its funding for Project EnergyConnect, the new 900km interconnector between New South Wales and South Australia. This includes a hybrid debt deal with the Clean Energy Finance Corporation (representing the green bank’s biggest ever deal), as well as a broader funding package. The project is anticipated to unlock the South Australian portfolio of renewables generation, providing a critical link to the load in New South Wales.

The KWM team advising TransGrid across the package included Tim Ma, Brendan Smith, Jo Dodd, Chloe Delahunt-Devlin, Lincoln Smith and Claudia Martin.

Commenting on the transaction, Tim said: “Congratulations to TransGrid, its Securityholders, the CEFC, the other financiers and all of the advisors on the funding package. We are delighted to have assisted TransGrid in delivering this part of a project which will be a key investment into the national energy system. The milestone reflects the commitment of TransGrid, its Securityholders and all of those parties.”

KWM has acted for TransGrid on all its recent financing transactions across bank debt and capital markets, including the establishment of its funding platform for TransGrid Services (Lumea).

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