BlueScope enters into ‘major’ corporate PPA
King & Wood Mallesons has advised BlueScope on entering into a power purchase agreement (PPA) to directly underwrite a renewable generation project.
Firm: King & Wood Mallesons (BlueScope)
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Deal: BlueScope has been advised on its PPA with ESCO Pacific for the Finley Solar Farm.
Value: ESCO Pacific will invest $250 million dollars into the project, according to a KWM statement.
Area: Corporate, energy and resources
Key players: The KWM legal team was led by partner Vishal Ahuja, with assistance from associate Paul Scott.
Deal significance: The investment will comprise of approximately 500,000 solar panels – generating energy for approximately 60,000 homes, KWM noted.
“We are proud to have supported BlueScope in entering into this agreement, continuing the trend of major corporates to directly underwrite renewable generation. KWM has advised a number of corporates on their entry into the renewable PPAs to manage their electricity requirements,” said Mr Ahuja.
“KWM has leveraged that experience to help BlueScope achieve its renewable energy ambitions.”