Linklaters has advised GIC and Copenhagen Infrastructure Partners (CIP) on their investment into TagEnergy’s dual currency (AU$ and €) green bond, totalling a maximum of €570m.
The first €270m tranche will add to the existing funding sources for the construction of the first stage of Golden Plains Wind Farm with the remaining up to €300m follow on tranche dedicated to TagEnergy’s other global renewable assets.
The transaction is instrumental in supporting TagEnergy’s strategy to bring over 4GW of onshore wind, battery energy storage systems (BESS) and solar PV assets to commercial operation across the UK, Europe and Australia.
The notes are registered at Interbolsa and represent a significant issuance in the Portuguese bond market. G-Advisory has independently certified that the green bond is consistent with the ICMA Green Bond Principles 2021.
Richard Coar comments:
“We are delighted to have been able to work with our alliance partner Allens to advise GIC and Copenhagen Infrastructure Partners on this innovative structured investment. Deals of this nature really serve to showcase Linklaters’ market-leading global energy transition platform and cross-practice capabilities, with lawyers from the UK, Portugal, Spain, and Australia all providing seamless advice to deliver this complex deal. We look forward to seeing the positive impact this investment will have, as TagEnergy continues to deliver on its low carbon strategy.”
The cross-practice and multijurisdictional team was led by Energy & Infrastructure partner Richard Coar, counsel Nick Szmigin, managing associate Madeline Armitage and associate Will Morton (all London). They were supported by Finance and Energy & Infrastructure partner Gonçalo Veiga de Macedo, associate Flávia Marques and Capital Markets associate Rodrigo Moreira (all Lisbon), as well as Capital Markets managing associate Alvaro Albors and junior associate Alberto Parra (both Madrid).
The team also worked closely with Linklaters’ alliance partner firm, Allens, namely Banking & Finance partner and Head of the Allens Project Finance Group Michael Ryan, senior associate Tristan Kelly and associate Naomi Lee (all Melbourne).
Linklaters has a consistent track record supporting developers, investors and financial sponsors in the low carbon and energy transition sector, with market-leading expertise across the full spectrum of transactions – from solar and wind, to hydrogen, carbon capture, batteries and storage, green and sustainability-linked finance.
