Vast Solar has concluded its joint venture in the Aurora Solar project based out of South Australia near Port Augusta under the advisory of Gilbert + Tobin. Vast Solar has partnered with Australian storage technology company 1414 Degrees on the project.
Firm: Gilbert + Tobin (Vast Solar)
Deal: G+T advised Vast Solar on the conclusion of its joint venture into the Aurora Solar project.
Key players: Corporate advisory partner David Josselsohn and energy and infrastructure special counsel Lloyd Chater led the transaction with support from partners Amanda Hempel and Ben Fuller on tenure and planning advice (respectively).
Deal significance: Vast Solar is a leading concentrated solar power (CSP) developer.
The Aurora Solar project includes a number of stages; the development of a Battery Energy Storage System (BESS) of up to 140 megawatts, the development of a 150-megawatt concentrated solar power plant, a 70-megawatt solar photovoltaic array, and finally, a Thermal Energy Storage System pilot.
Lloyd Chater said: “We were pleased to advise Vast Solar on this significant transaction as it provides them with an exciting opportunity to utilise modular tower CSP technology.”
G+T advised Vast Solar on all facets of the transaction and the assessment of risks associated.