Herbert Smith Freehills advised Clean Energy Finance on equity investment in Macquarie Pastoral Fund
The purpose is to initiate new technologies and practices to reduce emissions
Herbert Smith Freehills advised Clean Energy Finance on equity investment in Macquarie Pastoral Fund
The purpose is to initiate new technologies and practices to reduce emissions
Herbert Smith Freehills (HSF) has advised the Clean Energy Finance Corporation (CEFC) on its A$75 million equity investment in the Macquarie Pastoral Fund.
The commitment with the Macquarie-owned Paraway Pastoral Company seeks to reduce methane intensity in the agricultural sector by at least 30 percent by 2030.
CEFC intends for Paraway, as the fund's manager, to use its investment to put on trial new technologies and practices to reduce emissions. The progress would then be shared with other industry stakeholders.
The HSF team comprised partner Fiona Smedley and special counsel Yorick Ng.
Smedley stated, "We are proud to continue supporting CEFC in undertaking its important clean energy investment work, this time in the agriculture sector, which contributes to a significant proportion of Australia's emissions. This investment adds to the growing pool of institutional investments we are seeing that are driving innovation and leadership in sustainable and energy-efficient practices."
Yorick Ng added, "Congratulations to the CEFC on this important cornerstone investment in the Macquarie Pastoral Fund and on its collaboration with Paraway. Emissions reduction in the agriculture sector is challenging, and we commend CEFC's continued leadership in this investment space."
The Herbert Smith Freehills team has previously advised CEFC across a range of equity investments, including in a transforming farming platform managed by Gunn Agri Partners, Adamantem's private equity fund, Macquarie Infrastructure and Real Asset's infrastructure platform, Mirvac's build-to-rent club, the Australian Renewables Income Fund, the Morrison & Co Growth Infrastructure Fund, the Investa Commercial Property Fund, and the Ellerston 2050 Fund.