Dealmakers help German company make first investment in clean energy in Australia
K&L Gates has advised a German investment company on its first investment in clean energy in Australia with the acquisition of an expansive solar farm in Victoria.
The global firm advised Wirtgen Invest, a family-owned investment company, on the acquisition and development of the Glenrowan West Solar Farm.
Designed to have an installed capacity of about 149MW at peak, the solar farm will feature 373,248 solar modules and provide enough electricity for about 41,000 homes. The solar farm, located 230km northeast of Melbourne, is estimated to reduce carbon dioxide emissions by 110,000 tonnes every year.
K&L Gates’ work included advising Wirtgen Invest in the initial acquisition of the project from Overland Sun Farming in the middle of last year. The firm also helped on the project’s development, which included acting on the awarding of the engineering, procurement and construction (EPC) contract to Signal Energy.
Energy partners Luke Westmore and Matt Baumgurtel headed the K&L Gates team, which also included senior associate Danielle Larkin and lawyer Claudia Brkic. Real estate matters were handled by special counsel Damiano Castelli.
This K&L Gates team has been involved recently in numerous renewable energy projects, advising sponsors, contractors and lenders, the firm said.
“It is fantastic to see global investors continuing to develop projects in the Australian market, and we are pleased to have played a role in assisting with the development of a solar farm that will increase clean energy supplies to Victorian households,” Westmore said.