find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Solar deal brings smart energy to market

Solar deal brings smart energy to market

Customers will have access to a new rooftop solar inverter that leverages cloud-based software for smart energy use, thanks to a new investment by EnergyAustralia.

Firms: Norton Rose Fulbright (Redback Technologies Ltd); Ashurst (EnergyAustralia)

Deal: Energy Australia has bought a stake in solar and storage technology company Redback Technologies Ltd (Redback).

Value: $9.3 million

Area: M&A, energy, finance

Key players:  The NRF team advising Redback was led by partner Shane Bilardi. Senior associate Amelia Clarke assisted with the deal.

Deal significance:

Energy Australia has paid $9.3 million for a stake in solar and storage technology company Redback. The investment will support Redback’s development and release of new products that allow consumers to control their energy consumption and reduce costs.

Redback’s cloud-based technology system can analyse and control energy generation and consumption in real time, affording consumers the ability to reduce their energy costs. The company believes its technology offers a more economical rooftop solar and battery storage solution for electricity customers.

With the new $9.3 million investment, EnergyAustralia also plans to bring a smart solar inverter to market.

NRF advised Redback on the deal, drafted the share subscription and distribution agreements and was involved in negotiations with EnergyAustralia.

According to NRF corporate partner Shane Bilardi, the two companies were able to bridge a “cultural divide” to see the transaction through.

“While large corporates have a strong interest in the emerging disruptors in their industry, the cultural differences can often make transactions between the two difficult to complete.

“It was exciting to see how well Redback and EnergyAustralia bridged that divide, Redback embracing the process to become investment-ready and EnergyAustralia being flexible enough to accommodate a dynamic technology company. I think that bodes well for the future of their partnership,” Mr Bilardi said.

NRF global head of energy Simon Currie said the future of Australia’s energy industry is critical. The country must seize opportunities to exploit its solar energy resources, he added.

“Australia is well positioned to reap the benefit of its abundant solar resources, but must do so in a way which preserves and enhances the reliability of the system as a whole. 

“Redback is one of a number of Australian companies developing solutions to meet these challenges and we are excited to be helping them to develop their business and lead us to a low-carbon and sustainable future,” Mr Currie said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Solar deal brings smart energy to market
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Aug 16 2017
Urgent criminal law reforms can prevent ‘unwarranted acquittals’
Concerns about unfair prejudice arising from the use of tendency and coincidence evidence are mispla...
Aug 15 2017
Press Control-S on your firm
Promoted by BHL Software It’s now a truism that when your IT systems stop working, so does you...
Aug 15 2017
The Importance of Leadership Skills for Aspiring Lawyers
Promoted by LHD Lawyers Even the most prominent lawyers of our age (or ages past, for that matter...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...