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Herbert Smith Freehills has advised ACCIONA Energía on 10-year power purchase agreement (PPA) with the Barwon Renewable Energy Partnership comprising Barwon Health, Barwon Water and Geelong Port for the purchase of renewable energy from ACCIONA Energía’s Mount Gellibrand Wind Farm located nearby at Birregurra in southwest Victoria.
The PPA will reduce Barwon Health’s greenhouse gas emissions by 70% and help Barwon Water to achieve its target of using 100% renewable energy by 2025 and net zero emissions by 2030.
The Herbert Smith Freehills team was led by Melbourne partner Gerard Pike, with support from senior associate Caroline Rowe and solicitor Tia Liu.
Gerard Pike commented: “It is really pleasing to see local companies and government bodies forming innovative partnerships to buy clean renewable energy for their operations and also to support investment in Victorian renewable energy projects. Initiatives such as these, as well as the Victorian Government Renewable Energy Target Auction program, mean investment in cleaner and cheaper energy for Victoria as well as local projects and jobs. We are proud to support ACCIONA Energía who have a long and successful track record of investing in and building large scale renewable projects in Victoria and Australia.”
With this deal, Herbert Smith Freehills continues to demonstrate its leadership in the Australian renewables and PPA market, having recently advised:
- ACCIONA Energía on its existing PPA with Viva Energy for Mt Gellibrand Wind Farm and its successful VRET bids and offtake support agreements for Mt Gellibrand and Mortlake South Wind Farms in Victoria;
- Coca Cola Amatil, the University of Melbourne and ANZ Banking Corporation on their corporate PPAs with the Murra Warra Wind Farm in Victoria; and
- Total Eren on PPAs with Mars Corporation, Zero Emissions Water, Flow Power and Alinta for the Kiamal Solar Farm in Victoria.