Allens has advised the Queensland Government (Economic Development Queensland) on the lease of up to 1250 hectares of underutilised state-owned land for one of Australia's largest solar developments.
Following a competitive process, the Government selected Acciona Energy as the successful bidder to build and operate a 265 megawatt solar farm at Gladstone under a 30-year lease.
Acciona has also committed to making significant investments in the local community, supporting local jobs and manufacturers in delivering the project and establishing a community benefits fund to provide between $1.5 million and $3.6 million of funding for community initiatives and programs over the duration of the lease.
Allens advised on all aspects of the transaction, including the competitive procurement process, development and tenure issues and securing the community benefit arrangements. The transaction further builds on Allens' market-leading expertise in infrastructure, renewable energy and government projects.
'We're delighted to have supported the Government in facilitating this significant renewable energy project, which will be a major economic, social and environmental boon for the region,' said lead Partner Liam Chambers .
'In one of the first transactions of its kind for the Government, this project not only advances the Queensland economy as it shifts away from ageing industries, but also activates idle land and delivers important ongoing benefits for the local community.'
The advice builds on Allens' extensive experience in renewable energy development, with the firm having recently advised on three solar farms in Queensland and New South Wales, a landmark portfolio of solar farms in Queensland and Victoria and the Powering Australian Renewables Fund.
Allens legal team
Liam Chambers (lead Partner), Peter Brennan (Associate)
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.