Login
Renewable energy hub to be built in WA
The Macquarie Group has joined a number of other organisations in a bid to develop the Asian Renewable Energy Hub in Western Australia.
Lauren Croft
Firm: Clayton Utz (Macquarie)
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Clayton Utz has advised Macquarie Capital and Macquarie’s Green Investment Group on their participation in the proposed Asian Renewable Energy Hub (AREH) to be developed in the Pilbara region of Western Australia.
Value: Undisclosed
Area: Energy and projects
Key players: The Clayton Utz team was led by deputy chief executive partner Emma Covacevich, together with special counsels Katy Warner and Marni Riley and lawyer Morgan Gabriel.
Deal significance: Macquarie will join bp (40.5 per cent), InterContinental Energy (26.4 per cent) and CWP Global (17.8 per cent) in developing the AREH project, which will supply renewable power to local mining customers in the Pilbara and produce green hydrogen and green ammonia for the domestic Australian market and export to major international users.
AREH will be developed as a large-scale wind and solar hybrid power hub, with a total generating capacity of up to 26 gigawatts (GW). Energy generated from the project will be allocated to existing and new energy users in mining, mineral processing and large-scale production of green hydrogen.
Commenting on the deal, the firm said: “We warmly congratulate Macquarie on its cornerstone investment in this transformational renewable energy project, which has the potential to monumentally shift the energy mix in the Pilbara as one of the largest renewables and green hydrogen hubs in the world.”
