Elgar Middleton has advised Neoen on the project financing of the AUD$350m Bulgana Green Power Hub – an integrated wind farm and battery storage facility – located in Victoria, Australia
The transaction involved raising long-term debt from KfW IPEX-Bank, Societe Generale, and Korean government-owned financial institution Korea Development. Elgar Middleton worked with both Neoen and the lenders to ensure a timely financial close – within just 6 weeks from the moment the lenders were appointed.
The project benefits from a long-term PPA with the Victorian government and a corporate PPA with Nectar Farms. Once built, the project will provide 100% renewable energy to what will be the largest glasshouse in Australia – a world-first for the horticulture industry.
Damien Bonnamy, CFO Australia at Neoen commented:
“Elgar Middleton’s support in structuring and leading the financing process was decisive to reaching financial close in less than 7 weeks from commercial agreement, for a project mixing large wind farm, storage facility, behind the meter corporate client and a state PPA. Elgar Middleton also successfully brought together a unique combination of lenders from Europe and Asia.”
Elgar Middleton is proud to have supported this innovative wind farm and battery storage project which has reinforced the firm’s reputation as a leading independent financial adviser in the renewable energy sector.
Elgar Middleton tops the global rankings on the Inframation financial advisor league tables for the solar sector
Elgar Middleton has been ranked by Inframation as the #1 financial advisor globally in the solar sector by deal count. This is the culmination of an extraordinary effort by both our London and Sydney based teams who collectively closed ten solar transactions with a combined capacity of over 900MW.
Among the many highlights for the year was the Wirsol / Edify AUD380 million solar financing in Australia which reached financial close in March. The transaction was the first time long-term debt was used to fund Australian renewable energy projects and was ranked as one of the top 10 global deals of 2017 by Inspiratia.
2018 has started on a positive note with significant financing activity across a range of sectors in the UK, Europe and Australia. This reflects the continued strong demand from the finance community for renewables projects.
Elgar Middleton is pleased to announce the arrival of Dominic Kua in its Sydney office
Dominic Kua has joined Elgar Middleton’s Sydney office as an Associate Director. He joins as a financial advisor specialising in Australian infrastructure and renewables. Dominic will support the team on its current M&A and debt financing mandates across the wind, solar and battery storage sectors.
Dominic brings considerable experience in the infrastructure and renewables sector as both an investor and financial advisor. Prior to joining Elgar Middleton, Dominic was a Senior Associate in the infrastructure team at Brookfield in Sydney where he was responsible for investment execution and asset management. He was also a member of Brookfield’s investment banking team, advising on infrastructure deals and raising approximately AUD 2 billion in capital.
Elgar Middleton is pleased to announce the arrival of Tom Eckersley-Waites in its London office
Tom joins as a Associate Director focused on the detailed financial modelling required for M&A and debt financing transactions, including supporting the firm on it’s current mandates in solar PV, onshore wind and battery storage.
Tom brings significant modelling, structuring, tax and accounting expertise to Elgar Middleton. He was previously at TradeRisks Ltd. where he provided treasury and funding advice to clients in the social housing, healthcare and student accommodation sectors. Prior to this, Tom spent 4 years at Operis advising on a broad range of project finance transactions including debt financing of over 200MW of solar PV worldwide.
Tom has a BA in Mathematics & Philosophy from Oxford, an MPhil Stud in Philosophy from UCL, and is a CFA charterholder.
Elgar Middleton is pleased to announce the opening of a new office in Sydney, Australia.
Elgar Middleton is launching a new office in Sydney, strengthening its ties with existing clients based in Australia and those looking to do business in Australia. Partner Edward Elgar will head up the Sydney office, and will be joined by Partners Yuriy Davidov and James Maughan.
The team will focus on advising renewable energy investors and developers on project finance and M&A across the onshore wind, solar PV and battery storage sectors.
Elgar Middleton is pleased to announce the opening of a new office in Sydney, Australia.
Elgar Middleton is launching a new office in Sydney, strengthening its ties with existing clients based in Australia and those looking to do business in Australia. Partner Edward Elgar will head up the Sydney office, and will be joined by Partners Yuriy Davidov and James Maughan.
The team will focus on advising renewable energy investors and developers on project finance and M&A across the onshore wind, solar PV and battery storage sectors.
Elgar Middleton is pleased to announce the arrival of Pierre Tarantelli in its London office as a Director.
Pierre joins as a financial advisor specialising in the UK wind and solar sectors. His focus will be M&A and debt financing, including supporting the firm on its current solar and wind refinancing mandates.
Pierre was previously a Vice President at Barclays’ Infrastructure and Project Finance team in London where he was involved in achieving financial close on approximately 100MW of onshore wind and biomass deals within the UK in the last 2 years. He has 9 years of experience in EMEA with a focus on the UK, Irish and French markets.
Elgar Middleton is recognized for the number of closed transactions it has advised as financial advisor over the past 12 months in the UK’s renewable energy sector.
Elgar Middleton has retained its #1 position among financial advisors for the third year running, according to InfraDeals’ UK Renewables 2016 rankings. During the year, the partnership advised clients on [] transactions across the solar PV, onshore wind, and anaerobic digestion sectors.
The ranking reflects the demand for the partnership’s unique debt advisory and M&A capabilities.
Elgar Middleton’s experience in refinancing renewable energy projects was recognised in the 2016 Inspiratia League Tables.
Elgar Middleton has been ranked as the leading debt financial advisor in the European renewables sector by Inspiratia. Elgar Middleton has deep expertise in structuring and executing financing solutions for renewable energy projects and successfully raised over £490 million of project finance in 2016 across the onshore wind, solar PV and anaerobic digestion sectors.
For more information on our capabilities in this area, please contact us at [email protected] or +44 20 7099 6360.
Top EU financial advisers by transaction volume of refinancings
