DLA Piper advises Pacific Green on landmark BESS offtake arrangements for up to 3.5 GWh of capacity in Australia

Global law firm DLA Piper has advised Pacific Green on the execution of two strategic, market-first framework agreements with RE2 Capital and ZEN Energy, paving the way for a transformative portfolio of battery energy storage system (BESS) projects that will enhance grid stability and accelerate Australia’s clean energy transition.

DLA Piper assisted Pacific Green in securing:

• 10-year tolling commitments with ZEN Energy across three BESS projects in the National Electricity Market (NEM), totaling 1.5 GWh of storage capacity; and
• A framework agreement with RE2 Capital for up to four 7–10-year capacity revenue swap arrangements, supporting 2 GWh of BESS capacity in the NEM.

Karan Nalwa, Executive Director, Finance at Pacific Green commented: "These strategic framework agreements with Re2 and Zen Energy enable Pacific Green to guarantee revenue underwriting for 3.5GWh of battery projects in Australia and signify a major milestone in Pacific Green’s development business, accelerating the route to market for its 7GWh Australian BESS portfolio."

The DLA Piper team was led by partner Chris Mitchell, senior associate Maddison Hardiman and solicitor Kristen Politis, bringing deep experience in energy infrastructure and complex commercial contracting arrangements.

Chris Mitchell commented: “These landmark agreements are designed to support the ongoing growth of Pacific Green’s development business in Australia through the rollout of a portfolio of utility-scale BESS projects nationwide. This transaction underscores DLA Piper’s integral role in shaping Australia’s energy future, supporting clients across the full lifecycle of BESS and long-duration energy storage projects - from development and funding to execution and delivery.”