DLA Piper has advised the Australian Renewable Energy Agency (ARENA) on the Demand Response Competitive Funding Round under its Advancing Renewables Program.
ARENA and the Australian Energy Market Operator (AEMO) this week jointly announced 10 pilot projects in Victoria, South Australia and New South Wales (NSW) have been awarded funding, to manage electricity supply during extreme weather peaks.
The AU$35.7 million initiative will deliver 200 megawatts (MW) of capacity by 2020.
DLA Piper assisted ARENA from the inception of the Competitive Round – including the bid documentation, review of submissions from a legal perspective and negotiating and closing the funding agreements with all recipients. DLA Piper also worked closely with ARENA in finalising arrangements with AEMO and the NSW Government.
The DLA Piper team was led by Finance and Projects partner Kate Papailiou, with foreign legal associate Kim Eichorn and solicitor Jeff Sheehy.
Kate Papailiou said: "We are thrilled to build on our relationship with ARENA and work with them on the demand response program from inception to completion. It is especially exciting to be involved in market-making mechanisms that seek to address some of the most pressing energy demand concerns ahead of the approaching summer. We look forward to witnessing the success of the program over the coming years."
ARENA has committed AU$28.6 million to fund set-up and operational costs for the projects, with AU$7.2 million to be matched by the NSW Government for the NSW-based projects.
The funding recipients include energy retailers, an energy distributor, a demand response aggregator, a smart thermostat developer and a South Australian metal foundry.