New Energy Solar’s $187 Million Acquisition of 87-megawatt Beryl solar project

Allens has advised First Solar on the sale of its 87-megawatt Beryl solar project in western NSW to New Energy Solar (NEW). Allens also acted for First Solar earlier this year on the project financing of the Beryl development.

The project has a long-term, 15-year power purchase agreement with Transport for NSW (TfNSW). Approximately 69 per cent of the expected generation from the Beryl Solar Farm will be sold to TfNSW under the power purchase agreement to power the Sydney Metro Northwest railway.

The development of the Beryl Solar Farm is expected to generate significant economic and environmental benefits for regional NSW, providing approximately 150 jobs during peak construction and ongoing full time positions. First Solar will provide construction management services and, once completed, operations, maintenance and asset management services to the project.

Herbert Smith Freehills has advised New Energy Solar with a team including David Ryan, Natalie McDowell and Michael Trent.

Allens advised First Solar with a team including Projects: Kate Axup (Lead Partner – projects), Danielle Jones (Senior Associate), Kanana Fujimori (Associate) and Shona Shang (Associate)

Corporate: Jeremy Low (Partner), Stephanie Kam (Associate) , Miles Ma (Lawyer) and Dixon Song (Lawyer)

Banking and Finance: Tim Stewart (Partner), Nick Swart (Associate)

EPC and O&M arrangements: David Donnelly (Partner), Tristan Iredell (Managing Associate)

Property: Michael Graves (Partner), Lucy Woodruff (Senior Associate)

Involved fees earner: David Ryan – Herbert Smith Freehills; Natalie McDowell – Herbert Smith Freehills; Michael Trent – Herbert Smith Freehills; Jeremy Low – Allens; Miles Ma – Allens; Kate Axup – Allens; Danielle Jones – Allens; Tim Stewart – Allens; David Donnelly – Allens; Tristan Iredell – Allens; Michael Graves – Allens; Lucy Woodruff – Allens;

Law Firms: Herbert Smith Freehills; Allens;

Clients: First Solar, Inc.; New Energy Solar;

Author: Michael Patrini