DLA Piper advises Banpu Energy Australia on first renewable power investment in Australia
Global law firm DLA Piper is proud to have advised Banpu Energy Australia on its entry into a Securities Sale Agreement for the acquisition of a portfolio of two operating utility scale solar projects in New South Wales from New Energy Solar Limited.
The projects comprise the 110.9 MWDC Beryl Solar Farm and 55.9 MWDC Manildra Solar Farm, located in Central West New South Wales. The projects are located in a strong region of the NEM and have high quality power purchase agreement (PPAs) in place.
The cross-practice team advising Banpu Energy Australia is being led by partner Chris Mitchell with support from partner Kate Muller, senior associates Marnie Carroll, Simone Bajraszewski, Chanel Mercurio, and solicitors Davina Khoo and Sarah Griffiths. Other Australian partners who are providing specialist advice on the deal including Rhys Davies from Finance, Projects and Restructuring, Fleur Gibbons from Litigation and Regulatory and Kate Pickthall from Real Estate.
Chris Mitchell commented “We are delighted to have been able to assist Banpu Energy Australia on acquiring a quality portfolio of Australian renewable energy assets which will form the foundations for Banpu’s ongoing renewable investment initiatives in Australia. Our long term relationship with Banpu Group coupled with our strong renewable energy investment expertise, assisted Banpu to deliver on this exciting opportunity for its stakeholders we are excited about the opportunities that remain in store for them as they continue to grow their presence in Australia”.
Mr Stijn Koppers, CEO Banpu Energy, separately commented that, “These solid, established assets provide a great foundation for Banpu Energy Australia to enter the Australian renewable energy market at scale. We bring an agile and innovative lens to renewables and will further build our business from this foundation”.
The acquisition sees the Banpu Group move closer to its 2025 target of 1600 MW renewables.
The transaction is another example of DLA Piper’s market-leading renewable energy, M&A and Project practices.
