Local wind farm majority stake sold to global giant
Norton Rose Fulbright has advised on the sale of a majority stake in the Winterbourne Wind Farm development to a global wind turbine manufacturing giant.
Firms: Norton Rose Fulbright (Walcha Energy), MinterEllison (Vestas)
Deal: Walcha Energy, a joint venture between MirusWind and Energy Estate, has been advised on all legal aspects of the development and sale of a majority stake in Winterbourne Wind Farm to Vestas.
Area: Energy and Resources, Corporate
Key players: Norton Rose Fulbright corporate M&A partner Martin Irwin led the team advising Walcha Energy, with assistance from real estate partner Michael McKee, environment and planning partner Noni Shannon and regulatory partner Claire Forster.
The team also included corporate M&A special counsel Sarah Chen, real estate senior associates Duncan Webber and Sharon Kennedy, corporate M&A associate Michael Phillips and paralegal Julie Zhu.
Deal significance: Winterbourne Wind Farm, which could expand to as much as 700MW, forms the principal wind component of the 4GW Walcha Energy Project in NSW, the biggest and most ambitious renewable energy project in Australia’s main grid, according to a statement from NRF.
The Walcha Energy Project will combine wind with solar power and pumped storage hydro components to form a renewable energy hub at Uralla in the New England area in NSW, the firm noted.
Commenting further, NRF corporate M&A partner Martin Irwin said: “The work done on this transaction involving M&A, planning, property and regulatory work streams is a great demonstration of the combined strength of our full-service energy practice.
“We are delighted to have advised on all aspects of this milestone development. Vestas’ acquisition of a majority stake in the 700MW Winterbourne Wind Farm demonstrates strong investor confidence in the renewable energy industry and in the potential of the broader Walcha Energy Project.”