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PPAs agreed to for Mt Gellibrand Wind Farm
Two of Australia’s biggest law firms have advised on an “innovative” power purchase agreement to help meet the Victorian government’s renewable energy and emissions reduction targets.
Jerome Doraisamy
Firms: Herbert Smith Freehills (ACCIONA Energia); Allens (Barwon Renewable Energy Partnership)
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Deal: The Barwon Renewable Energy Partnership (B-REP), comprising Barwon Water, Barwon Health and GeelongPort, has entered into PPAs with ACCIONA Energia for the Mt Gellibrand Wind Farm.
The combined volume of the three power purchase agreements comprises 68 gigawatt hours of the output of the Mt Gellibrand Wind Farm per annum, helping each of the participating organisations’ transition towards 100 per cent renewable electricity and net zero emissions, as well as offset rising energy costs.
Area: Projects
Value: N/A
Key players: The HSF team was led by partner Gerard Pike, who was supported by senior associate Caroline Rowe and solicitor Tia Liu.
The Allens team was led by partner Kate Axup, who was supported by partners Ted Hill, Lisa Zhou and Geoff Sanders, managing associates Danielle Jones and James Somerville, senior associate Kanana Fujimori, associate Sharon Carey, and lawyers Andrew Panaccio and Lydia Ganci.
Deal significance: The PPA, the firms noted, will reduce Barwon Health’s greenhouse gas emissions by 70 per cent and help Barwon Water to achieve its target of using 100 per cent renewable energy by 2025 and net zero emissions by 2030.
Speaking about the partnership, Mr Pike said: “It is really pleasing to see local companies and government bodies forming innovative partnerships to buy clean renewable energy for their operations and also to support investment in Victorian renewable energy projects.
“Initiatives such as these, as well as the Victorian Government Renewable Energy Target Auction program, mean investment in cleaner and cheaper energy for Victoria as well as local projects and jobs. We are proud to support ACCIONA Energía who have a long and successful track record of investing in and building large scale renewable projects in Victoria and Australia.”
Ms Axup added: “We are pleased to have worked with B-REP on this important project, and in doing so supporting Victoria’s ambition of 50 per cent renewable energy by 2030 and zero emissions by 2050.
“In recent years, there has been a trend towards the formation of purchasing groups like B-REP. We expect this trend to accelerate, particularly as governments across the country increasingly focus on reducing emissions and supporting the development of the domestic renewable industry.”
