Allens has advised Powerchina Resources Ltd (PCR) on its purchase of an 80 per cent stake in Goldwind's Cattle Hill Wind Farm development project.
Located in Tasmania and due for completion in 2019, Cattle Hill Wind Farm will use 48 wind turbines to produce up to 150 megawatts of renewable energy. The wind farm will be one of the largest in Tasmania once completed.
Goldwind will retain the remaining 20 per cent stake in the project.
Allens collaborated with Linklaters to advise on all aspects of the deal in Australia and China, including legal due diligence and transaction documents.
PCR is the overseas investment arm of the Power Construction Corporation of China Ltd, one of China's biggest multinationals.
This acquisition marks PCR's entry into the Australian renewable energy market.
'We congratulate PCR on its first investment in the Australian renewable energy market,' said partner Kate Axup , who jointly led the Allens team with partner Wendy Rae .
This transaction builds on Allens' extensive experience in renewable energy, with the firm having recently advised on the sale of the 453MW Coopers Gap wind farm project to the Powering Australian Renewables Fund and currently advising on the sale of a number of First Solar's development assets.
Allens legal team
Projects & Development: Kate Axup (Joint Lead Partner), Shona Shang (Associate), Isabella Kelly (Associate), Lucy Woodruff (Senior Associate), Danielle Jones (Senior Associate), Will Rennick (Law Graduate), Georgia Dobbyn (Lawyer), Emily Johnstone (Senior Associate), Nicholas Ng (Partner), Brydon Wang (Associate), Michael Graves (Partner), Jillian Button (Partner)
Corporate: Wendy Rae (Joint Lead Partner), Nick Kefalianos (Senior Associate), Elysia Longo (Lawyer)
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 40 offices in 28 countries around the world.