King and Wood Mallesons (KWM) is proud to have advised Telstra in a purchase power agreement (PPA) to buy 50 per cent of the electricity generated by the Glenellen solar farm in the New South Wales Riverina Region.
The 260MW project was approved for construction by the NSW Independent Planning Commission in December of last year and is currently in construction phase.
The project is expected to generate 200 jobs during construction and once operational, Telstra’s share of the electricity generated at Glenellen is projected to be 210 GWh each year - enough to power over 37,000 homes and cut around 130,000 tonnes of CO2 emissions annually.
The deal marks Telstra's seventh PPA (all of which KWM has advised on), including the Emerald Solar Park (QLD), Murra Warra Wind Farm (VIC), Stage 3 of the Crookwell Wind Farm (NSW), MacIntyre Wind Farm (QLD), Munna Creek Solar (QLD) and Bundaberg Solar Farm (QLD).
The KWM team was led by Partner Shirley Cheng, with support from Senior Associate Tiffany Yang.
Commenting on the deal, Partner Shirley Cheng said:
"It was a pleasure to work with our long-standing client Telstra on this deal, having also assisted on their previous 6 PPAs. We value the opportunity to support Telstra in its commitment to a cleaner energy future."
KWM continues to be at the forefront of market leading transactions that support the country’s energy transition, having recently advised the Lenders (ANZ, BNP Paribas, CBA, CIBC, DBS, ING Mizuho, Rabobank, Siemens, SMBC and Westpac) on the $650M financing of Akaysha Energy’s Orana Battery Energy Storage System (BESS), the largest BESS financing to date and ENGIE to reach successful financial close of the Goorambat East Solar Farm.
