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WIRCON advised on largest Aus solar farm battery storage project
Norton Rose Fulbright has advised international energy company WIRCON GmbH on the development and acquisition of the Gannawarra Energy Storage System in Victoria.
Jerome Doraisamy
Firm: Norton Rose Fulbright (WIRCON GmbH); DLA Piper (ARENA)
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Deal: WIRCON GmbH, owners of Wirsol Energy, have developed and acquired the Gannawarra Energy Storage System, which is a 25MW/50MWh Tesla Powerpack battery that will be integrated with the Gannawarra Solar Farm, located in Kerang, Victoria.
The project was developed by Edify Energy and is jointly owned by Edify and Wirsol.
Value: Undisclosed.
Area: Mergers & Acquisitions.
Key players: The NRF team was led by the firm’s global head of energy Simon Currie, who was supported by Sydney-based partner Raymond Lou, special counsel Claire Forster and associates Chris Sewry and Tom Bramah.
The DLA Piper team was led by finance and projects partner Kate Papailiou, with support from special counsel Sarah Lynden-Bell and solicitors Emily John and Rebecca Dunlop.
Deal significance: The combined system is set to be the first integrated solar and storage project in Victoria – and the largest of its kind in Australia – and able to power around 800 homes for 24 hours.
It is supported by the Victorian government, according to NRF, as well as independent federal agency the Australian Renewable Energy Agency (ARENA).
In addition, it features a first-of-its-kind commercial services agreement with EnergyAustralia, acting as the offtaker for the Gannawarra Solar Farm.
“It is great to see Wirsol, along with ARENA and the Victorian government, support this important addition to the state’s energy future security mix,” Mr Currie said.
“Our team was also pleased to deliver yet another important Australian renewable energy project, and to continue to develop its energy storage capability.”
