Squadron Energy, Australia’s leading renewable energy company, has secured a $2.7 billion refinancing package to optimise its structure and terms.
The refinancing covers Squadron’s Uungula Wind Farm which is under construction and the following operating wind assets:
- Bango Wind Farm
- Crudine Ridge Wind Farm
- Sapphire Wind Farm
- Murra Warra Wind Farm I and II.
It does not include Squadron’s development portfolio or Port Kembla Energy Terminal.
The package provides optionality for Squadron to expand into Battery Energy Storage System (BESS) in the future.
Macquarie Capital was Squadron’s financial advisor and 15 banks participated in the financing, including Agricultural Bank of China, Bank of China, China Construction Bank, China Everbright, Commonwealth Bank of Australia, Deutsche Bank, E.Sun Bank, HSBC, Industrial and Commercial Bank of China, ING Bank, Mizuho Bank, National Australia Bank, Sumitomo Mitsui Banking Corp, Societe Generale and Westpac.
Herbert Smith Freehills Karmer was the legal advisor and Allens advised lenders.