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Vestas arranges US$319 million facility for Australian wind turbines


Projects being developed by Global Power Generation subsidiaries in state of Victoria
5 May 2021 | 
Michael Marray
Turbine manufacturer Vestas has arranged an export credit agency-backed payment deferral facility for three wind farms being developed by Australian subsidiaries of Global Power Generation. The two-year A$415 million (US$319 million) facility will be used for purchasing receivables related to the installation of Vestas wind turbines for the Ryan Corner, Hawkesdale and Berrybank Two wind projects in the southeastern state of Victoria.
This is the first time that Vestas has offered an ECA-backed payment deferral facility anywhere in the world. The wind turbine exports will be covered by Sinosure, together with EKF of Denmark. The facility is being provided by Banco Santander and Deutsche Bank. ....

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Vestas Australia makes 'first of its kind' transaction

Vestas Australia makes ‘first of its kind’ transaction Vestas Australia makes ‘first of its kind’ transaction Share Deal: Vestas – Australian Wind Technology Pty Ltd (Vestas Australia) has been advised on the receivables purchase arrangements supporting the construction and financing of the Ryan Corner Wind Farm, the Hawkesdale Wind Farm and the Berrybank 2 Wind Farm, for which Vestas Australia is the appointed EPC contractor. Value: $415 million. ); googletag.cmd.push(function() { googletag.display( div-gpt-ad-1606778613657-0 ); }); } Area: Banking and finance, tax. Key players: The legal team advising Vestas Australia was led by Norton Rose Fulbright partners Jo Crew and Adam Smith, with support provided by senior associate Nicola Pearl, and associates Edwina Cheung and Sarah Gard. ....

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