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Allens advises Evolution Mining on renewable power agreement
Global law firm Allens has aided Australian gold mining giant Evolution Mining in signing an eight-year retail power purchase agreement (PPA) with AGL that is supported by renewable energy sources.
Keonia Swift
Firm: Allens (Evolution Mining)
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Deal: Evolution Mining has been advised on its power purchase agreement (PPA), which will give it long-term security and price certainty for the energy it needs for its Cowal operation, Allens said in a statement.
Value: Undisclosed
Area: Energy
Key players: The Allens team was led by partner Kate Axup and senior associate Angela Lu.
Deal significance: Supporting Evolution’s pledge to cut its energy emissions by 30 per cent by 2030, the deal calls for a percentage of the power to come from renewable sources, with room to grow the proportion of renewable energy over time.
“This deal reflects an increasing focus from corporates on ESG considerations and decarbonisation.
“We have seen mounting pressure in recent years, particularly on business within the mining sector, to decarbonise their operations. We were delighted to work with Evolution on this important step,” said Ms Axup.
