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Shell acquires 49% of energy development
Shell Australia has made its first-ever investment into wind energy in the purchase of 49 per cent of WestWind Energy Development, further expanding its renewable energy presence in Australia.
Lauren Croft
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Firm: Baker McKenzie (Shell Australia)
Deal: Baker McKenzie has advised Shell Australia on its acquisition and joint venture with WestWind Energy, a greenfield wind energy developer in Australia.
Value: Undisclosed
Area: M&A, sustainability
Key players: The Baker McKenzie team was led by Raymond Lou, Lance Sacks and Eric Li in Sydney, with assistance from the broader projects team, including Aylin Cunsolo, Tanya Denning, Sarah Merrett, Rachel McNally, Gillian Woon, Sinan Alnajjar, Brett Walker, Macy Jong and others.
The Shell legal team was led by Trent Simon.
Deal significance: According to Baker McKenzie, “the acquisition of 49 per cent of WestWind complements Shell’s earlier investment in Australian solar developer, ESCO Pacific, as a key part of Shell’s strategy to build a diversified and integrated portfolio of low-carbon generation assets.”
Moreover, WestWind has permitted approximately 2 gigawatts of wind projects and aims to progress a further 3 gigawatts of renewable capacity in the coming years.
“This is the second major M&A transaction that our Australian team has worked on with Shell in FY22 having recently assisted Shell on the acquisition of Powershop, and represents a major commitment by Shell to renewable power and the energy transition in Australia,” the firm added.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
