Herbert Smith Freehills has acted for ACCIONA Energy in the offtake arrangements for its 132MW Mt Gellibrand Wind Farm now under construction between Colac and Winchelsea in Victoria.
Mt Gellibrand Wind Farm was a winner of the Victorian Government LGC purchasing tender held in 2016 under which the Victorian Government will purchase the large-scale Renewable Energy Certificates generated by 66MW annually of the new wind farm’s electricity generation for up to 10 years.
The Victorian Government’s stated purpose of the LGC purchasing initiative is to bring investment and employment to Victoria and to support the State Government’s renewable energy target. Bids in a second, similar Victorian auction for 75MW worth of LGCs from solar energy projects have also just been received.
The Herbert Smith Freehills team was led by partner Gerard Pike who was supported by solicitor Matt Selth.
Gerard Pike said: "It is great to see a resurgence in large-scale renewables development in Victoria and ACCIONA has done extremely well to succeed in obtaining an offtake for its Mt Gellibrand development and to bring the wind farm into construction. The project and its economic and carbon reduction benefits are a direct result of ACCIONA’s perseverance and proves that the Victorian Government’s renewable energy initiatives are working to create new projects in Victoria.”
This deal is another example of Herbert Smith Freehills’ market-leading, full-service renewables team, which has recently advised on a number of other significant transactions in the Australian renewable energy industry, including advising:
- The financiers of the Kiata Wind Farm in Victoria (the other winner of the LGC purchasing initiative);
- Infigen Energy on the development of the Bodangora Wind Farm near Wellington in NSW;
- First Solar on the project financing of Manildra Solar Farm in NSW; and
- AGL Energy Limited on the development of the 200MW Silverton Wind Farm in western NSW.