Media release: Clayton Utz advises Frontier Energy on project financing for Stage One of the Waroona Renewable Energy Project

Stage One of the Project comprises a 132MW solar facility and a 81.5MW/6.9 hour battery energy storage system, representing a significant step in Frontier's long-term strategy to develop the Project into a multi-stage renewable energy hub.

Frontier has executed a Syndicated Facility Agreement (SFA) for project finance debt facilities of up to A$280 million, provided by a syndicate of international lenders led by Natixis CIB and Sumitomo Mitsui Banking Corporation. Financial Close of the SFA is expected to occur in November.

The Clayton Utz team advising Frontier on this transaction was led by project finance partners Rohan Mishra and Tim Stanton, supported by senior associates James Allen and Lily Rayment, lawyers Karla Fernandes and Mandy Truong, alongside projects partners Stuart MacGregor and Chris Slocombe, special counsel Justine Abel, and senior associate Anita Cukic.

Commenting on the transaction, partner Rohan Mishra said: "We are proud to have supported Frontier Energy Limited on this significant milestone for the Waroona Renewable Energy Project. The Project is a flagship asset for Frontier and a major renewable energy initiative for Western Australia. It demonstrates Frontier's commitment to developing, owning, and operating long-life renewable energy assets that contribute to Australia's clean energy transition."

The Waroona Renewable Energy Project is expected to play a key role in advancing renewable energy infrastructure in Western Australia, supporting the state's energy needs and sustainability goals.