Allens advised Zenith Energy, a leading independent power producer, on its successful debt financing process, which will provide $440 million in syndicated credit facilities over five years to support next-generation projects.
All existing credit facilities have been refinanced, with Zenith entering into new credit facilities with Westpac Banking Corporation, National Australia Bank, Sumitomo Mitsui Banking Corporation, BNP Paribas, Australia and New Zealand Banking Group and Aware Super.
The growth capital expenditure limits available within the facilities will support next-generation projects, as well as the growth of Zenith’s urban and remote microgrid segment.
Zenith currently has over 500 MW of capacity under contract or under development, playing a significant role in the energy transition of the resource sector.
“It is extremely pleasing to help Zenith Energy secure capital expenditure funding for the development of its future projects, especially given the increasing complexity of remote power solutions,” said the lead partner. Ben Farnsworth.
“As evidenced by this refinancing, there is a huge appetite from financiers to help companies participate in the energy transition, which does not seem to be running out of steam.”