Allens has advised Sydney Airport on its eight-year power purchase agreement (PPA) with CWP Renewables and Origin Energy.
Under the agreement, Sydney Airport will receive the benefit of a fixed amount of renewable energy and associated environmental products supplied at a fixed price from the Sapphire Wind Farm and, once operational, the Crudine Ridge Wind Farm.
Electricity contracted under the agreement represents up to 75 per cent of Sydney Airport’s electricity consumption. The PPA is backed up by Origin, who will provide firming electricity to Sydney Airport under an electricity supply agreement.
The PPA is part of Sydney Airport’s commitment to a low-carbon future, and is one of a number of steps towards its targeted 50 per cent reduction in carbon intensity by 2025.
Commenting on the PPA, partner Kate Axup said the project builds on the firm’s portfolio of corporate PPA work.
Allens advised with a team including Kate Axup (Picture), Karla Drinkwater, Sean Gilmartin (Energy), Michael Ryan, Lisa Zhou and Felicia Duan (Banking & Finance).
Law Firms: Allens;
Clients: Sydney Airport Corp. Ltd.;