Follow us

Reinforcing its leadership in the energy sector, Herbert Smith Freehills has advised lenders on legal aspects of the development and project financing of the 200MW/400MWh Rangebank Battery Energy Storage Systems (BESS), which will be located in Cranbourne West, Melbourne, Victoria (the Project).

The Project has been developed by Macquarie Asset Management’s Green Investment Group (GIG) and Shell Energy Operations (Shell Energy) and will be supported by a 20-year battery storage services agreement with Shell Energy for 100% of the BESS capacity.

BNP Paribas acting through its Australia branch, Societe Generale, Sydney Branch, Standard Chartered Bank, Australia Branch, Sumitomo Mitsui Banking Corporation and Westpac Banking Corporation have provided project financing to the Project.

The cross-practice Herbert Smith Freehills team was led by partners Elizabeth Charlesworth, Peter Davis, Kristen Percy and Heidi Asten. They were supported by senior associates including Gabby Herron-Cartwright, Jennifer He and Michael Trent, and solicitors Stephanie Simm and Sophia Tonoli.

Elizabeth Charlesworth said, “This transaction reflects a new high watermark for battery storage projects in Australia. The dedication of all parties involved on this innovative project and in particular the lenders in structuring for the unique characteristics of the technology demonstrated their commitment to the transition to clean energy, and the integral and exciting role that battery projects have to play as part of that energy transition here in Australia.”

Herbert Smith Freehills was legal adviser to the bank group. Macquarie Capital was adviser to GIG, Ashurst was legal adviser to GIG and Societe Generale was the Project’s financial adviser. Baker McKenzie advised Shell Energy as offtaker.

This deal is another example of Herbert Smith Freehills’ market-leading work in the clean energy sector.

Key contacts

Elizabeth Charlesworth photo

Elizabeth Charlesworth

Partner, Sydney

Elizabeth Charlesworth
Peter Davis photo

Peter Davis

Partner, Sydney

Peter Davis
Kristen Percy photo

Kristen Percy

Partner, Sydney

Kristen Percy
Heidi Asten photo

Heidi Asten

Partner, Melbourne

Heidi Asten

Media contact

For further information on this article please contact

Collette Farley

External Communications Manager

Melbourne