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Equinor, Nexsphere enter JV for Bass Offshore Wind Energy project

Norwegian energy company Equinor and Australian renewable energy developer Nexsphere have been advised on their collaboration and joint venture for the Bass Offshore Wind Energy (BOWE) project in Bass Strait, Tasmania.

user iconJerome Doraisamy 16 January 2023 Big Law
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Firm: Allens (Equinor); Ashurst (Nexsphere)

Deal: The BOWE project will be based 30 kilometres off the coast of north-eastern Tasmania and will take advantage of Tasmania’s significant offshore wind resources, Ashurst said.

The transaction is expected to complete in Q1 2023, subject to regulatory approvals, Allens noted.


Area: Energy and resources

Value: N/A

Key players: The Allens team was led by partner Jacqui Rowell (pictured), who was supported by partners Michelle Bennett, Wendy Rae and Joel Barrett, senior associate George Salter, managing associate Tom Tian and lawyer Paige Pittorino.

The Ashurst team was led by partner Murray Wheater and counsel Michael Dearden, who were assisted by partners Jeff Lynn, Alyssa Phillips, Jennie Mansfield, Chris Redden and Dan Brown, senior associate Mohamad Ardati, counsel Maria Sun, and associates Jack Jones, Renee Xue, Edwina Wang, Ryan Pieszko and Alice Jiang.

Deal significance: Speaking about the transaction, Ms Rowell said: “We are very pleased to have assisted Equinor with another significant transaction in the Australian offshore wind sector.

“Equinor is well placed to capitalise on the significant opportunities that this emerging sector presents, both domestically and internationally, and we are proud to be assisting this market leader in the development of this transformational industry.”

Mr Wheater also noted: “We are proud to have advised Nexsphere on securing an experienced and capable partner to assist in developing the BOWE project.

“The collaboration between a local developer with deep connections into the Tasmanian energy sector and an international leader in wind energy marks a new, successful chapter in Tasmania’s journey towards clean energy.”