Aquila & Far North Solar Farms – Project Financing

Mafic is acting for Aquila Capital and Far North Solar Farms in relation to the project financing of four New Zealand solar projects with total capex/transaction costs of ~$250M
In addition to the above, Aquila/FNSF are seeking to develop a 1GW pipeline and is looking for a debt package that potentially enables bolton financing (e.g., accordion structure) and upside over time from the additional contracted revenues
Mafic is assisting in the establishment of a value-accretive financing solution to meet both short-term and mid-term objectives and desired outcomes. Key considerations for the financing include maintaining competitive tension throughout the debt process, achieving favourable merchant vs. contracted debt sizing parameters, refinancing risk/execution and project/currency risk

Provided an in-depth market sounding process, encompassing local and international appetite for a financing structure, whereby lenders had limited sophistication