Foresight Group Acquires Barcaldine Remote Community Solar Farm
Baker McKenzie acted for Foresight Group (Foresight), a leading independent infrastructure and private equity manager, in facilitating the acquisition of the 25MW Barcaldine Remote Community Solar Farm (BRCSF) in Queensland. BRCSF is the first solar project to be managed by Foresight in Australia.
Financing for the acquisition of BRCSF from the Elecnor group was provided by KIAMCO Global Infrastructure Fund III (KIAMCO) and Hanwha Energy Corporation (Hanwha).
Baker McKenzie lead partner on the deal, Simon De Young stated: "Baker McKenzie was delighted to assist Foresight in executing its first solar transaction in Australia. BRCSF is currently Queensland's largest solar farm, and is expected to provide approximately 10% of Australia's current large-scale solar electricity. It represents an exciting opportunity for Foresight and the investors in BRCSF, KIAMCO and Hanwha, in Australia's burgeoning solar energy sector."
Working with Simon on the transaction were partners Paul Curnow, John Walker and Dan Middleton, special counsel Angela Cowan and Lauren Kirkwood, senior associates David Cooper and Sarah Merrett and associates Robert Gough and Jun Au.