DLA Piper advises Palisade on acquisition of second large-scale battery energy storage system

Global law firm DLA Piper advised Palisade Investment Partners (Palisade) on its agreement to acquire a 100% interest in the Summerfield Battery Energy Storage System (Summerfield BESS) through Intera Renewables (Intera), Palisade’s Australian renewables platform.

Summerfield is a 240MWac / 960MWh battery energy storage project located around 50 kilometres east of Adelaide in South Australia. The project is being acquired partway through construction and is scheduled to commence commercial operations in late 2026. Once operational, it will operate under a long-term tolling agreement with Origin Energy.

Palisade is an early investor in the clean energy sector, managing a diversified portfolio of renewable energy assets across Australia and the United States. This acquisition marks Palisade’s second investment in large-scale energy storage and forms part of the continued expansion of Intera in Australia.

With the addition of Summerfield, Palisade's renewable energy portfolio totals approximately 2.5GW of capacity on a 100% ownership basis, including around 2.2GW in Australia, reinforcing its position as a major investor in Australia’s renewables market.

The DLA Piper team, led by Tax partner Brendon Lamers, advised Intera across all tax and duty aspects of the transaction, including navigating complex structuring and transaction requirements. Supporting Brendon on this acquisition was partner Adam Smith, tax director Alex Lebsanft and senior associate Sarah Gard. 

Commenting on the acquisition, Brendon Lamers said: "This transaction supports Palisade and Intera’s ongoing investment in large-scale storage and highlights the role these assets play in Australia’s energy transition. We are working alongside the team to address the tax and duty aspects of the acquisition and to support the continued growth of their renewable energy and storage portfolio." 

In recent months, DLA Piper's International Projects team has advised several high-profile clients on renewable energy matters, including:

• Advising asset manager and investment advisor, Amber Infrastructure and global investment group, La Caisse, on their commitment to invest GBP2 billion in Sizewell C, the UK's 3.2GW nuclear power station
• Supporting Société Générale S.A. on the first of its kind 50MW/100MWh Finnish BESS project
• Assisting Prime Capital on its acquisition of a 135MW BESS project in Germany
• Providing counsel on a 4.5GW Battery Energy Storage System pipeline in Germany
• Supporting a club of lenders on financing a 250MW and 1GWh BESS project in Italy