Herbert Smith Freehills Kramer advised lenders on 300 MW / 600 MWh Wellington Battery Energy Storage System in NSW
Herbert Smith Freehills Kramer (HSF Kramer) advised a syndicate of lenders on the project financing of AMPYR Australia’s 300 MW / 600 MWh Wellington Battery Energy Storage System (BESS) to be developed in Wellington, New South Wales.
The lender group included Bank of China, Commonwealth Bank of Australia, Coöperatieve Rabobank U.A., Hongkong and Shanghai Banking Corporation, Société Générale, and United Overseas Bank (UOB).
The Project will be supported by Zen Energy Retail, which has entered into a 10-year offtake agreement with AMPYR for 150 MW of the BESS capacity. Fluence Energy will service and maintain the Project under a 20-year service agreement, while Lumea will provide connection to Transgrid’s 330 kV network at Wellington.
Commenting on the transaction, partner Elizabeth Charlesworth said,
“We are proud to have supported the lenders and AMPYR on this landmark transaction. Wellington BESS will help deliver more critical storage capacity to transition to a more resilient, reliable, and renewably powered grid in NSW. The successful close is a testament to the collaborative efforts of all parties involved.”
The HSF Kramer team was led by partner Elizabeth Charlesworth, with support from partners Gabby Herron-Cartwright, Laurelle Ko, and Peter Davis, and solicitors James Snowden, Jolyn Loh, and Judita Hudson.
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