The equity partnership and participation model are for the Wellington Stage 1 BESS project
AMPYR Australia has completed the structuring of a unique Aboriginal community equity partnership and participation model for the Wellington Stage 1 battery energy storage system (BESS) project with assistance from Ashurst.
The partnership and model structure is the first of its kind in Australia, according to the firm.
“The equity model for the Wellington BESS project will set a new benchmark for community participation in renewable energy projects across the country”, Ashurst partner Jo-En Low said. “This transaction not only provides a pathway for the Wellington Aboriginal community to benefit from the energy transition, but also showcases the power of innovative legal structuring to drive positive social and economic outcomes”.
In particular, the equity model provides a steady income stream to the Wambal Bila, an organisation composed of Wellington Aboriginal community members. The model enables the organisation to build business knowledge and capacity.
The model also grants the Wambal Bila a chance to share in the revenues of the Wellington BESS project throughout its lifespan and entitles the organisation to an annual priority distribution amount.
Low worked on the transaction alongside an Ashurst core team comprising senior associate David Donaldson and associate Joshua Chin, with support from partners Murray Wheater and Lisa Simmons and associate Vien Siu.
The 300MW/600MWh Wellington BESS project is situated in regional NSW. The Stage 1 BESS is set to energise in 2026.
