Ashurst has acted for Vena Energy on obtaining debt financing for the development of the Wandoan South Battery Energy Storage System.
Vena Energy, which received debt financing from BNP Paribas, DBS Bank Ltd and ING Bank, is proceeding with the development, construction, connection and sale of electricity from the Wandoan South BESS. The Wandoan South BESS is a significant utility-scale battery project and the first of its kind in Queensland. When complete, the Wandoan BESS will have an export capacity of 100MW and a storage capacity of 150 MWh, capable of powering up to 57,000 Australian homes.
Vena Energy is a prominent and leading renewable independent power producer in the Asia-Pacific region.
Dan Brown (Picture) led the transaction with Chris Redden (lead on financing) and Paul Newman (lead on due diligence). In respect of the project documents, the team included: Land arrangements – Tim Mathers and Alex Pasquale;
EPC and O&M contracts and other relevant project development documentation – Dan Brown, Sarah Lynden-Bell and Christine Chang; Connection and Access Agreement – Paul Newman and Tristan Shepherd; and Energy Storage Services Agreement – Dan Brown and Tristan Shepherd.
In respect of the project financing, the team included Chris Redden, Melany Wilson, John O’Connell and George Williams. Other aspects: Due diligence report (relied upon by the financiers) – Paul Newman, Tristan Shepherd and Ainsley Masek as leads with input from Lisa Simmonds, Benson Chin, Tim Mathers, Alex Pasquale, John Briggs, Paul Wilson, Tony Denholder, Libby McKillop, Roxanne Read, Sarah Lynden-Bell and Christine Chang.
Involved fees earner: John Briggs – Ashurst; Dan Brown – Ashurst; Christine Chang – Ashurst; Benson Chin – Ashurst; Tony Denholder – Ashurst; Sarah Lynden-Bell – Ashurst; Tim Mathers – Ashurst; Libby McKillop – Ashurst; Paul Newman – Ashurst; John O’Connell – Ashurst; Alex Pasquale – Ashurst; Chris Redden – Ashurst; Tristan Shepherd – Ashurst; Melany Wilson – Ashurst;
Law Firms: Ashurst;
Clients: Vena Energy;