Clifford Chance

Clifford Chance advises Partners Group on sale of CWP Renewables in Australia's largest renewable energy deal to-date

Leading international law firm Clifford Chance has advised leading global private markets firm Partners Group on its sale of CWP Renewables, a vertically integrated renewable energy platform in Australia, to Squadron Wind Energy Assets. The transaction represents Australia’s largest renewable energy deal to-date.

The transaction was jointly led by partners Andrew Crook and Nadia Kalic, with the support of senior associates Jenny Han and Dale Straughen to manage the transaction. The team also included senior associates Aditya Ralhan and Emily Yung, associates Evan Thomson, Henry Baek and Sarah Bowe, Anna Wroe and trainee lawyers William Lucas and Joshua Malek.

The transaction also involved an innovative portfolio-level debt financing on which Clifford Chance also advised. Partner Chad Bochan and Australia Managing Partner Richard Gordon led on infrastructure debt financing aspects of the transaction, supported by counsel Sunny Jong, senior associates Mukesh Rajalingam and Adam Wood, associates Amelia Hirst and Mathew Kambos, and trainee lawyer Connor Smith.

Andrew said, “It has been an amazing journey working with Partners Group on the CWP Renewables Platform, right from its creation through to today's milestone. Along the way we have had the privilege of being part of a great team, including the CWP Renewables leadership, the other advisers and, of course, Partners Group itself. I am sure the business will continue to grow and thrive under its new ownership, delivering great outcomes for all stakeholders.”

Nadia said, “We are very proud to support businesses that play a key role in decarbonising the global energy system. The transaction builds upon our market-leading work in Australia and around the world advising businesses on their energy transition journey.”

CWP Renewables is a major Australian renewable energy developer, with a platform spanning onshore wind and battery farms. It currently operates over 1.1 GW of wind assets including Sapphire Wind Farm, which has 75 turbines generating up to 270 MW, Murra Warra I & II (with a combined 435 MW), Bango Wind Farm (244 MW), and Crudine Ridge (142 MW). CWP's portfolio also includes a construction-ready 414 MW wind farm and a 30 MW battery project. The Platform has a project pipeline including 5 GW of near-medium term projects and an additional 15 GW at an early stage of development.

Clifford Chance previously advised Partners Group on the formation of the renewable energy platform including the acquisition of CWP Renewables and on the acquisition of multiple assets within the portfolio, including Murra Warra I & II and Bango Wind Farm.