King & Wood Mallesons (KWM) has advised EnergyAustralia on its proposed divestment of a majority share of the Waterloo wind farm to Palisade Investment Partners and Northleaf Capital Partners.
Under the agreement, Palisade Investment Partners and Northleaf Capital Partners acquired a 75 per cent equity interest in the 11MW wind farm in Clare, South Australia, for UD228m (£148m). EnergyAustralia has retained a 25 per cent interest and will continue to provide asset management services to the Waterloo wind farm under a long-term contract with the jointly owned entity.
KWM also assisted EnergyAustralia to put in place new project finance debt for the wind farm, so as to create an optimal capital structure for the project following the divestment.
The KWM team was led by mergers and acquisitions partners Peter Stirling and Vishal Ahuja, who were supported by senior associate Chris Dynon and solicitors Danielle Smith, Tim Ma, David Bryant and Amrutha Ram Mohan.