New Zealand public private partnership (PPP) projects
Assisted the Treasury on the development of the PPP model for the New Zealand market, and advised the Government including the Department of Corrections, the Ministry of Education and the NZ Transport Agency on each of the PPP transactions to reach financial close to date.
The projects are:
Ministry of Education – Hobsonville Schools PPP and PPP 2, which involves four schools throughout New Zealand,
Department of Corrections – PPP at Wiri project (Auckland South Corrections Facility) and Auckland Prison PPP. The PPP at Wiri project won the 2013 Infrastructure Journal Social Infrastructure Deal of the Year, and
NZ Transport Agency – Transmission Gully Motorway project, in Wellington. The Transmission Gully PPP won the 2014 Project Finance International Asia Pacific PPP Deal of the Year.
Britomart precinct redevelopment
Advised Cooper and Company on its redevelopment of the Britomart precinct and lease of space to major commercial and retail tenants. This highly complex redevelopment is the largest historic restoration project to be undertaken in New Zealand and includes the development of major new buildings on Auckland's waterfront. Our project finance work involved acting for the developers on all aspects of the financing of the transaction, including complex intercreditor arrangements.
Central North Island geothermal projects
Advised Tauhara North No.2 Trust as the owner of the Rotokawa geothermal field and development right holder of the Nga Tamariki geothermal field in the Central North Island in the commercialisation of these fields, including the joint venture for the construction of the 140MW Nga Awa Purua geothermal power station. Nga Awa Purua is the largest geothermal power station built in the world in the past decade and features the world's largest single-shaft geothermal turbine. The development is regarded as a model project for Maori land owners of geothermal resources and aims to develop the resource while protecting the Trust's guardianship of the land and resource. It was named Project of the Year at the prestigious 2010 Deloitte Energy Excellence Awards. Bell Gully acts for Tauhara North No.2 Trust on all aspects of the financing of these projects.
ANZ National bank project financing for Synlait
Advised ANZ National Bank on the limited recourse funding for construction of a milk processing plant by Synlait.
Hawke's Bay Regional Investment Company
Advised Hawke's Bay Regional Investment Company on its (now terminated) Ruataniwha Dam - a proposed large water storage and distribution facility in the Hawke's Bay region.