Clean Energy Finance Corporation’s JV with Octopus Australia

Arnold Bloch Leibler has acted for Clean Energy Finance Corporation (CEFC) on a joint venture with Octopus Australia in relation to the development of two large-scale solar and battery storage projects in regional Victoria, with a combined capacity of 124 MW.

Two large-scale solar and battery storage projects proposed for development in Victoria’s Gippsland region have been underwritten by a joint venture between Octopus Australia and the Clean Energy Finance Corporation.

Octopus Australia and the CEFC had purchased the rights to develop the projects from local outfit, Solis Re, which had been working together with Marathon Electrical and contracting group WK & MA Ferguson as a JV known as Repowering Gippsland.

The green investment duo announced this week that they would help to accelerate the delivery of both the 44MW Perry Bridge (44MW) and Fulham (80MW) solar farms, the former of which had already been approved for development by the state government.

The Perry Bridge project, which won approval from Victoria’s Department of Environment, Land, Water and Planning in April, proposes to combine the solar farm with a 40-50MWh battery project in the Wellington Shire.

The Fulham project proposes to pair the 80MW of solar with an 80MWh battery. At that time, detailed site assessments and designs were said to be underway, ahead of community consultation and then the submission of a planning application to state government.

The Clean Energy Finance Corporation (CEFC) is an Australian Government-owned Green Bank that was established to facilitate increased flows of finance into the clean energy sector.

The ABL team was led by Corporate and M&A partner Jason van Grieken (Picture). 

Involved fees earner: Jason van Grieken – Arnold Bloch Leibler;

Law Firms: Arnold Bloch Leibler;

Clients: Clean Energy Finance Corporation;

Author: Sonia Carcano