Baker McKenzie advised Foresight Solar Fund Limited (FSFL) on its entry into binding contracts for the acquisition of shares in three solar farms in Queensland, with a combined capacity of 117MW, from Canadian Solar. The portfolio consists of Longreach Solar Farm (17MW), Oakey 1 Solar Farm (30MW) and Oakey 2 Solar Farm (70MW), with FSFL acquiring a 49% interest in each of Longreach and Oakey 1 and a 100% interest in Oakey 2.
Baker McKenzie lead partner on the transaction, Simon De Young stated: "We were delighted to act for our client FSFL on what was a highly complex transaction. This is the third Australian transaction for Foresight, following the recent acquisition of the 110MW Bannerton project in Victoria and, earlier in 2017, the acquisition of the 25MW Barcaldine solar farm in Queensland, with Baker McKenzie having advised Foresight on each of these transactions."
Foresight director Carly Magee commented: "We are pleased to continue our strong relationship with Baker McKenzie, with this milestone transaction bringing Foresight's Australian solar portfolio to 252MW across five sites."
Simon was assisted by a Baker McKenzie team comprising: John Walker, Robert Gough, Aylin Cunsolo, Lauren Kirkwood, Sarah Merrett, Mike Webb, Janet Cho and Joanna Kuok.
The acquisitions remain subject to certain conditions being met.
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