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Acquisition of ACT's 'largest' solar system goes ahead
Thomson Geer has advised an ASX-listed energy company on its acquisition of what’s being dubbed the ACT’s largest rooftop solar system.
Emma Musgrave
Firm: Thomson Geer (ReNu Energy Limited)
Value: Confidential
Area: M&A
Key players: The Thomson Geer legal team was led by partner Eugene Fung, with assistance from graduate lawyer Thomas Gardner.
Deal significance: ReNu is an independent power producer which delivers its customers with clean energy products, at a lower price, with no upfront costs, according to a statement from Thomson Geer.
The firm explained that the acquisition adds to ReNu’s “growing portfolio of diversified renewable energy assets by providing an operational solar project comprising 600kW capacity underpinned by a 20-year ACT government Feed-in Tariff scheme”.
“The project is the first acquisition completed by ReNu under its Alliance Agreement with VivoPower for the development and purchase of solar energy projects. The acquisition follows ReNu’s agreement with SCA Property Group for the supply of solar PV and embedded network systems to four shopping centres across Australia and commencement of commercial operations at the Goulburn Bioenergy Project.”
Commenting further on the transaction, Thomson Geer partner Eugene Fung said: “We congratulate ReNu Energy on the first transaction under its VivoPower Alliance Agreement.”
“We look forward to continued involvement with the company as it matures further deals in its pipeline and expands its portfolio of clean energy assets.”
Pictured: Thomson Geer partner Eugene Fung
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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