Herbert Smith Freehills Kramer Advised lenders On 300 MW / 600 MWh Wellington Battery Energy Storage System In NSW

Herbert Smith Freehills Kramer advised lenders on 300 MW / 600 MWh Wellington Battery Energy Storage System in NSW

Herbert Smith Freehills Kramer (HSF Kramer) advised a syndicate of lenders on the project financing of AMPYR Australia’s 300 MW / 600 MWh Wellington Battery Energy Storage System (BESS) to be developed in Wellington, New South Wales.

The lender group included Bank of China, Commonwealth Bank of Australia, Coöperatieve Rabobank U.A., Hongkong and Shanghai Banking Corporation, Société Générale, and United Overseas Bank (UOB).

The Project will be supported by Zen Energy Retail, which has entered into a 10-year offtake agreement with AMPYR for 150 MW of the BESS capacity. Fluence Energy will service and maintain the Project under a 20-year service agreement, while Lumea will provide connection to Transgrid’s 330 kV network at Wellington.

Commenting on the transaction, partner Elizabeth Charlesworth said,

The HSF Kramer team was led by partner Elizabeth Charlesworth, with support from partners Gabby Herron-Cartwright, Laurelle Ko, and Peter Davis, and solicitors James Snowden, Jolyn Loh, and Judita Hudson.

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