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Allens acts on Sydney Desalination Plant privatisation

15 May 2012

Allens has advised a consortium including the Ontario Teachers' Pension Plan Board, Hastings Managed Infrastructure Funds Utilities Trust of Australia and The Infrastructure Fund (together, the Consortium) on a binding offer to refinance the Sydney Desalination Plant for $2.3 billion.

Located in Kurnell, the desalination plant is the largest desalination plant operating in Australia and is fully powered by renewable energy. It has a maximum capacity of 250 million litres a day.

The deal, which was signed on 11 May, involves a long-term lease of the desalination plant, pipeline and site, and a 50-year water supply agreement with Sydney Water Corporation.

Partner Robert Clarke, who co-led the Allens team on the transaction with finance Partner Simon Lynch, said that the people of NSW will benefit from the NSW Government's decision to select the Consortium for the long-term lease of the Kurnell Desalination Plant.

Mr Clarke said: 'Throughout the complex transaction, the Consortium was focused on ensuring that the NSW Government and Sydney Water's key objective of long-term water security would be satisfied by leveraging its unrivalled experience in managing critical infrastructure assets around the world'.

'It was a delight to work with incredibly hard-working, sophisticated and experienced individuals,' Mr Clarke said.

Mr Lynch echoed Mr Clarke's views on the strength of the Consortium.

'This is the best prepared bid I have seen in my 20 years of experience,' Mr Lynch said.

Allens legal team Robert Clarke (Partner – Melbourne), Simon Lynch (Partner – Melbourne), Ted Hill (Partner – Melbourne), Anthony Arrow (Partner – Melbourne), Michael Graves (Partner – Melbourne), Bill McCredie (Partner – Brisbane), James Darcy (Partner – Melbourne), Martin Fry (Partner - Melbourne), Nicholas Ng (Senior Associate – Brisbane), Geoff Sanders (Senior Associate – Melbourne), Charlie Harrison (Senior Associate – Melbourne), Michael Ryan (Senior Associate – Melbourne), Frances Dunn (Senior Associate – Melbourne), Fergus Green (Lawyer – Melbourne), Eleanor Khor (Lawyer – Melbourne)

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Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 36 offices in 27 countries around the world.