Mallesons has advised the Clean Energy Finance Corporation (CEFC) on its secured concessional financing to TasNetworks, Tasmania’s transmission network service provider, for Stage 1 of the North West Transmission Development (NWTD).
Stage 1 involves the development of more than 130 kilometres of new and upgraded transmission lines from Burnie to Cressy in Tasmania.
Together with the Marinus Link project, on which Mallesons also advised CEFC, Stage 1 of the NWTD will support Tasmania’s energy transition by increasing transmission capacity across Tasmania, Victoria and the broader National Electricity Market.
The projects are expected to strengthen electricity supply and storage capacity and support renewable energy development.
Mallesons advised the CEFC on all legal aspects of the financing, from due diligence through to documentation, coordinating complex regulatory and stakeholder considerations across multiple levels of government to deliver a corporate-style facility.
This approach provides TasNetworks with greater flexibility than a traditional project finance structure. By taking a future-focused approach, the CEFC and Mallesons helped secure funding for a key project in Tasmania’s push to become a renewable energy leader.
The Mallesons team was led by Partner Jo Crew, supported by Solicitor Alisha Tan, with Special Counsel Marcus Wettenhall leading the financing work.
Commenting on the transaction, Mallesons Partner Jo Crew said:
“Stage 1 of the North West Transmission Development is a significant step in supporting Tasmania’s renewable energy ambitions and strengthening connectivity across the National Electricity Market. Working with CEFC, we helped structure a flexible financing solution that responds to the regulatory complexity and long-term importance of major transmission infrastructure.”
The transaction reflects Mallesons’ continued role advising on strategic financing solutions for Australia’s energy transition and critical infrastructure pipeline.
