Herbert Smith Freehills’ venture capital team has advised Grok Ventures on its investment in the A$20 billion-plus Sun Cable project.
The Sun Cable project is an ambitious undertaking to develop the world’s largest solar farm in the Australian outback to supply Singapore with renewable energy. The development is set to include an array of panels spanning 15,000 hectares in Australia’s Northern Territory, which will supply electricity via a high-voltage direct-current transmission network to Singapore, as well as to the Darwin area.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne, who was supported by senior associate Wendy Tian. This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian renewable energy sector and Australian venture capital landscape.
Herbert Smith Freehills partner Peter Dunne said, “We are delighted to have advised Grok Ventures on its investment in the Sun Cable project, and to have worked with Grok on what is another ground-breaking transaction. We look forward to supporting its future investment initiatives”.
Head of Grok Ventures, Jeremy Kwong-Law, said, “We are really excited to support the Sun Cable team on this lighthouse project. A real demonstration of huge vision, ambition and human ingenuity. This unique investment required a unique structure and a real commercial approach to legal execution. Having worked with Peter and Wendy many times, they once again delivered for us”.