Allens has advised the financiers on the financing of Gawara Baya, a hybrid renewable energy project in North Queensland, comprising a 408MW wind farm and a 104MW grid-forming battery energy storage system.
Developed by Windlab and acquired by Copenhagen Infrastructure Partners (CIP), the project is an innovative early-transition renewable energy development set to supply large-scale clean energy via existing transmission infrastructure. ICA Partners acted as financial adviser.
Partner Scott McCoy said: 'As Australia's energy mix evolves, projects that combine renewable generation with battery storage will play an increasingly important role in supporting reliability and meeting growing demand for clean energy. We are pleased to have assisted the financiers on a project that will make a meaningful contribution to Australia's renewable energy future.'
Once operational, the project is expected to generate enough clean energy to power up to 250,000 Australian homes and displace carbon emissions from Australia's energy market by around 1.2 million tonnes each year.
The transaction builds on Allens' strong track record advising on complex renewable energy and storage projects, including the Bilgekh Wind Farm power purchase agreement, the sale of Yanco Battery Energy Storage System and the financing of Stage 3 of Quinbrook's Supernode BESS project.
Allens legal team
Department
Scott McCoy (Partner), Cristina Muino Palomar (Senior Overseas Practitioner (Qualified in Spain only)), Nick Walker (Associate), Kimberley Ching (Associate) and Emily Everitt (Lawyer).