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Genex Power achieves Bouldercombe BESS project
Genex Power has been advised on the development, offtake arrangements and project financing of Bouldercombe BESS.
Naomi Neilson
Firm: Herbert Smith Freehills (Genex Power)
Value: N/A
Area: Energy
Key players: The team was led by partners Kristen Percy, Peter Davis and Elizabeth Charlesworth, who were supported by executive counsel Amelia Fleming, senior associates Michael Trent, Arnica Mullins and Sam Cooper, and solicitors Antonia Xu and Julia Hollis.
Deal significance: The project is a stand-alone 50-megawatt/100-megawatt hour lithium-ion battery energy storage system that will have the capability to export and import electricity to and from the National Electricity Market and provide ancillary services to support its stability and reliability. It will be one of the first of its kind in Queensland.
Mr Davis said: “The implementation of an offtake arrangement for batteries that provides a bankable level of contracted revenues while preserving access to significant merchant upside has been an exciting development in this sector.”
Ms Charlesworth added: “We’ve been delighted to work with Genex Power to secure innovative financing for this Bouldercombe BESS project, helping them to continue to expand and develop their diverse portfolio of projects delivering renewable energy to the Australian market.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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