King & Wood Mallesons (KWM) has acted for Telstra to sign a power purchase agreement (PPA) with Munna Creek Solar Farm in Queensland. The project is owned by renewable energy developer Mytilineos through its subsidiary METKA EGN.
The bespoke PPA is indicative of an evolving market in which Telstra has partnered with a leading developer in support of the project. The deal demonstrates Telstra’s ability to select projects that are on track for successful completion and advances Telstra’s sustainability ambitions.
The KWM team comprised Partners, Vishal Ahuja and Shirley Cheng and Solicitor, Tiffany Yang.
Commenting on the deal, Shirley Cheng said:
“It was a pleasure to assist Telstra on this significant transaction. This PPA is a great addition to Telstra’s existing portfolio of power purchase agreements and demonstrates Telstra’s commitment to assist in the investment of more renewable energy projects and play a critical role to accelerate the energy transition."
KWM guided Telstra through the negotiations in a challenging environment in which projects are facing delays caused by congestion risk and grid constraints.
KWM continues to be at the forefront of advising clients on market leading transactions that contribute to the energy transition and recently advised AEMO on the Long-Term Energy Services Agreements (LTESAs) under the NSW Electricity Roadmap.
