Allens advises on Coopers Gap wind farm sale to PARF

Allens has acted for AGL Energy Limited (AGL) on the sale of the 453MW Coopers Gap wind farm project to the Powering Australian Renewables Fund (PARF), and for the PARF investors in relation to the project financing of the wind farm.

PARF is a partnership between AGL, QIC and the Future Fund that supports the investment and development of large-scale renewable energy projects. Allens advised AGL on the establishment of the PARF, and has advised on the sale of each asset currently held by the PARF, as well as for the PARF investors in relation to the project financing of each PARF asset.

The Coopers Gap wind farm, located in Queensland, is the second greenfield project to be acquired by the PARF, following the Silverton wind farm which was acquired by PARF earlier this year. With an approximate capacity of 453MW, the Coopers Gap wind farm will be larger than any wind farm currently operating in Australia.

Partners Kate Axup and Michael Ryan led the Allens team.

'It is very rewarding to work with AGL on its commitment to the PARF and to be part of the team building the PARF into a leading renewable energy investment fund that will help achieve the 2020 renewable energy target and assist with the development of Australia's energy market,' Kate said.

'Coopers Gap will be one of the largest single wind projects in Australia and the largest in Queensland by some margin. It is a strong testament to the commitment of the PARF investors to the PARF to project finance a project of this magnitude and we are delighted to have partnered with them to achieve that,' Michael said.

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