KWM advises Pacific Hydro on Australian-first renewable energy project

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King & Wood Mallesons (KWM) acted for Melbourne-based clean energy company, Pacific Hydro on its novel renewable energy sale to a consortium of 14 local governments, cultural institutions, universities and corporations.  

Under the deal, the Melbourne Renewable Energy Project (MREP) consortium will purchase renewable energy as part of a long-term power purchase agreement - which will enable Pacific Hydro to progress financing and construction arrangements for the 80 MW Crowlands wind farm in Victoria. 

The KWM team, led by partners Louis Chiam and Jonathan Oldham, is working closely with Pacific Hydro in developing and financing the Crowlands Wind Farm.

Louis Chiam said we're thrilled to be involved in this project, which represents the first time a syndicated corporate Power Purchase Agreement (PPA) has been used to underwrite a large scale renewables project in Australia.  

"It is a real credit to Pacific Hydro and the MREP members that they have been able to bring to market such a novel solution, despite the wider uncertainty in the energy sector."

The firm has a longstanding history with Pacific Hydro, having advised China's State Power Investment Corporation on its acquisition of the company in 2015.