Allens has advised First Solar on the sale of its 87-megawatt Beryl solar project in western NSW to New Energy Solar (NEW). Allens also acted for First Solar earlier this year on the project financing of the Beryl development.
The project has a long-term, 15-year power purchase agreement with Transport for NSW (TfNSW). Approximately 69 per cent of the expected generation from the Beryl Solar Farm will be sold to TfNSW under the power purchase agreement to power the Sydney Metro Northwest railway.
'There is great interest in renewable assets in Australia right now,' said lead partner Kate Axup. 'The Beryl Solar Farm is the second asset that First Solar has agreed to sell to NEW this year, with the Manildra Solar Farm acquisition announced in June 2018.'
The development of the Beryl Solar Farm is expected to generate significant economic and environmental benefits for regional NSW, providing approximately 150 jobs during peak construction and ongoing full time positions. First Solar will provide construction management services and, once completed, operations, maintenance and asset management services to the project.
'We're really pleased to continue to work with First Solar in connection with its portfolio of Australian assets,' Kate said.
Allens has advised extensively on renewable energy projects across Australia including on major developments such as Manildra Solar Farm, Cattle Hill Wind Farm and the establishment of and sale of assets into AGL's Powering Australian Renewable Fund.
Allens legal team
Projects: Kate Axup (Lead Partner - projects), Danielle Jones (Senior Associate), Kanana Fujimori (Associate) and Shona Shang (Associate)
Corporate: Jeremy Low (Partner), Stephanie Kam (Associate) , Miles Ma (Lawyer) and Dixon Song (Lawyer)
Banking and Finance: Tim Stewart (Partner), Nick Swart (Associate)
EPC and O&M arrangements: David Donnelly (Partner), Tristan Iredell (Managing Associate)
Property: Michael Graves (Partner), Lucy Woodruff (Senior 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.