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Jemalong Solar PV farm sold to Genex Power
Norton Rose Fulbright and energy advisory firm Energy Estate have jointly advised on the sale of the Jemalong Solar PV farm in Forbes, NSW.
Jerome Doraisamy
Firm: Energy Estate (Vast Solar Pty Ltd); Norton Rose Fulbright (Vast Solar, Genex Power Ltd with consent)
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Deal: Genex has acquired the Jemalong Solar PV farm, which was developed by Vast Solar, in an ASX-announced deal.
Area: M&A
Value: Undisclosed
Key players: Energy Estate principals Simon Currie and Vincent Dwyer, together with advisers Jacqueline Fetchet and Niilo Monkkoen, acted as financial and transactional advisers for Vast Solar.
NRF partners Jasmine Sprange, Martin Irwin and Michael McKee, together with senior associate Duncan Webber, worked alongside partner Noni Shannon to provide advice to Vast Solar, and partners Raymond Lou and Ben Smits advised Genex with consent.
Deal significance: The project is anticipated to reach financial close in H1 2019, and to qualify for Largescale Generation Certificates.
“The firm has advised on dozens of renewable energy deals in Australia in recent years, but this is the first M&A deal to be completed alongside Energy Estate,” Ms Shannon said.
“We are pleased to have assisted Vast Solar to develop this project and to have collaborated with Energy Estate to provide a strong outcome for Vast Solar, and separately Genex Power, on this exciting new solar PV project for regional NSW.”
Mr Currie added that Energy Estate was pleased to have worked with NRF as legal advisers on this deal.
“We have been involved from the very first stage of development of the Jemalong solar project. Energy Estate believes that the partnership between Genex and Vast Solar demonstrates the potential for renewable energy hubs in NSW and across Australia.”
