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Majority stake in Rodds Bay solar farm acquired
United Green and Renew Estate have been advised on the acquisition of a majority stake in the Rodds Bay 300-megawatt solar farm in Queensland’s Gladstone region.
Reporter
Firm: Norton Rose Fulbright (United Green and Renew Estate).
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Deal: Rose Fulbright has advised the new market entrant, UK investment group United Green, and the current owner Renew Estate, on the acquisition of a majority stake in the Rodds Bay 300-megawatt solar farm in Queensland’s Gladstone region.
The firm’s cross-practice team advised both United Green and Renew Estate on all aspects of the deal including corporate, land, planning and regulatory aspects of the sale, and including preparation of sell-side due diligence of the project.
Value: Not disclosed.
Area: Energy.
Key players: The NRF team was led by partners Martin Irwin and Kelly Davies, who were supported by partners Noni Shannon, Ben Smits, Adam Smith and Claire Forster, special counsel Kathy Prince, senior associates Adam Hunter and Amanda Scribante-Smyth, associate Hugo Gotterson and lawyer Ellen Laughton.
Deal significance: Speaking about the deal, Ms Davies and Mr Irwin said: “United Green’s entry into the Australian renewable energy market demonstrates investor confidence in the Australian renewables sector.”
“We are pleased to have been able to assist our clients in navigating the complexities of the deal and look forward to continuing to advise our clients moving forward,” the pair concluded.
