The $160m hybrid renewable energy project, which involves Tesla, is a proof-of-concept for a $2bn project
Herbert Smith Freehills (HSF) advised Kennedy Energy Park Pty Ltd on the construction, offtake, grid connection, and project financing of the first phase of Kennedy Energy Park. The firm also advised sponsors Eurus Energy and Windlab.
The Clean Energy Finance Corporation, which contributed $93.5m in long-term debt finance to for the $160m project, was advised by King & Wood Mallesons (KWM).
Allens acted for the Australian Renewable Energy Agency (ARENA), which provided $18m in grant funding.
Equity was also provided by Eurus and Windlab, which was also advised by Norton Rose Fulbright (NRF).
The undertaking, which HSF said is a proof-of-concept project, is located in the Flinders Shire in central north Queensland. It is comprised of a 15MC solar array, a 43.2MW wind turbine component from Vestas, and 2MW of Li-ion storage from Tesla.
If successful, it could lead to the $2bn Kennedy Energy Park Phase II project with up to 1,200 megawatts of generation capacity.
The project, which reached financial close on 18 October, is expected to be fully operational within twelve months.
The HSF team was led by partner Gerard Pike and executive counsel Alison Dodd. They were supported by senior associates Rupert Baker, Caroline Rowe, and Rhiannon Hough, and solicitors Josh Attard, Dinisi Sirimanne, Erin MacMullin, and Michael Thurin.
The KWM team was led by partner Claire Rogers, who was assisted by senior associate Chris Allfrey and solicitors Priscilla Hejtmanek, Amy Maguire, and Brendon Francis.
The Allens team was led by partner Rob Watt. He was assisted by senior overseas practitioner Jamie Guthrie and lawyer Jessica O’Sullivan.
“The innovative combination of solar and wind with battery storage could be instrumental in improving Australia's system security by increasing the stability of the grid,” Watt said.
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