Ashurst advises lenders on refinancing of the largest wind farm in Western Australia

Global law firm Ashurst has advised the lending syndicate on the provision of financial accommodation of an amount up to A$212 million to Collgar Wind Farm Pty Ltd for the purposes of refinancing its existing debt. 

Collgar Wind Farm is the largest wind farm in Western Australia and the largest renewable energy generator in the Western Australian energy market. It was originally financed in 2010, and has been refinanced multiple times since then. Collgar Renewables is wholly owned by the Retail Employees Superannuation Trust (REST).

The refinancing debt was made available through an amendment and extension of the existing Syndicated Facility Agreement and an amendment and extension of the existing Working Capital Facility Agreement. The lending syndicate included four continuing financiers, including Australia and New Zealand Banking Group, Commonwealth Bank of Australia, The Hongkong & Shanghai Banking Corporation Limited and Crédit-Agricole Corporate Investment Bank.

The Ashurst team was led by partner Chris Redden and included: consultant Chris Skordas and associates Jonathan Chew, Sasha Stijaci and Harrison Xu.