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Mars partners with Lightsource bp
Mars Australia has signed a power purchase agreement with a solar developer, in a move to continue production of its solar farms in Wellington.
Lauren Croft
Firm: Baker McKenzie (Mars Australia)
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Deal: Baker McKenzie has successfully advised Mars Australia in signing a power purchase agreement (PPA) with Lightsource bp.
Value: N/A
Area: Energy and projects
Key players: The Baker McKenzie team was led by partner Aylin Cunsolo, who was assisted by lawyer Aimi Tran.
Deal significance: This PPA will enable Mars to source renewable energy from Lightsource bp’s 200-megawatt peak Wellington Solar Farm, which is already operational, and its Wellington North Solar Farm, which has begun early stages of construction and is due to be completed in 2024.
Baker McKenzie’s lead partner Aylin Cunsolo said the firm was “delighted to assist our long-standing client, Mars, on this project, which showcases the company’s commitment toward a low-carbon-energy future”.
“We look forward to continue supporting our client in exploring other renewable energy investment opportunities as they continue on their journey in building a sustainable future for Australia and the world, a vision which we also share at Baker McKenzie,” she said.
Bill Heague, Mars Food Australia general manager, added: “Mars Australia is thrilled to partner with Lightsource bp to expand the generation of renewable energy in Australia. We believe Mars has a responsibility to create a sustainable future for people, pets and the planet, which is why we’ve committed to 100 per cent renewable energy in our direct operations by 2040, and net zero across our value chain by 2050.”
