Allens has advised the Southern Sydney Regional Organisation of Councils (SSROC) on its long term power purchase agreement (PPA) with Origin Energy.
Under the terms of the agreement, 20 councils will acquire a fixed amount of renewable electricity and associated environmental certificates from Moree Solar Farm at a fixed price, with Origin supplying the remainder of the electricity from the grid.
Commenting on the agreement, Partner Anna Collyer said the PPA demonstrated there is the flexibility in the market to negotiate better power deals.
'Collaborating with SSROC to negotiate a contract structure suited to the specific needs of participating councils was a very rewarding experience for the Allens team.
'Through the PPA, the councils have secured their electricity supply up to 2030, which includes a fixed volume of renewable electricity at a fixed price.
'The agreement also provides councils with the opportunity to approach the market again in three years to amend the firming arrangements or to increase their offtake of renewable energy.
'PPAs allow parties to access lower electricity prices while minimising pricing risks and reducing carbon emissions,' Anna said.
The councils participating in the PPA include: Bayside, Campbelltown, Canada Bay, Canterbury-Bankstown, Georges River, Hunters Hill, Inner West, Ku-Ring Gai, Lane Cove, Liverpool, Mosman, North Sydney, Parramatta, Randwick, Ryde, Singleton, Sutherland Shire, Waverley, Willoughby and Woollahra councils.
Allens legal team
Anna Collyer (Lead Partner), Danielle Jones (Senior Associate), Dale Straughen (Associate), and Mohamed Khairat (Lawyer).
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.