Deal: Ashurst has advised Vena Energy Australia (VEA) on the negotiation of an Energy Storage Services Agreement (ESSA) with AGL to sell the storage capacity of a 100-megawatt Battery Energy Storage System (BESS) at Wandoan.

Value: Undisclosed. 

Area: Energy. 

Key players: The Ashurst team was led by partner Dan Brown, senior associates Tristan Shepherd and Lixian Liang. 

Deal significance: Lead energy partner on the deal, Mr Brown, commented: “We are excited to continue our firm’s role in supporting Queensland’s, and Australia’s, energy transition and to again partner with Vena Energy Australia to strengthen their role as one of Australia’s leading renewable developers. The Wandoan BESS will represent a major milestone in the continuing modernisation of the state’s energy supply, which will hopefully encourage investment in future energy projects that have the same positive impact.”

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The Wandoan South Project (WSP) was approved in August 2017 as a renewable public utility to be developed across several stages. The first BESS component of the Wandoan South Project will be one of the biggest battery storage projects in Queensland. 

This major project is VEA’s largest development with an approved capacity of up to 1,000-megawatt of solar generation and 450 megawatts of battery storage, the firm said.