Baker McKenzie has successfully assisted Osaka Gas through its subsidiary, Osaka Gas Energy Oceania (OGEO), to reach an agreement with ACE Power, an Australian based renewable energy project developer, to jointly develop a portfolio of utility-scale solar and battery projects with a total capacity of more than 500MW in New South Wales and Queensland. The joint venture platform also allows either party to add more projects into the development pipeline in the near future. This is OGEO’s first utility-scale renewable investment in Australia since its wind renewable investment into Hallet 4 in 2009.
Baker McKenzie's lead partner, Raymond Lou stated: "We are delighted to assist our client, Osaka Gas Energy Oceania, with its first major investment in a renewable platform in Australia in the past decade, to deliver positive environmental outcomes. The strategic partnership with ACE Power affirms our client's commitment in energy transition and development of renewable energy alternatives."
Baker McKenzie's lead partner, Raymond Lou was supported by Macy Jong and Lara Ilic. Other key project team members included: Aylin Cunsolo, Charlie Detmold, Sarah Merrett, Rachel McNally, Taylor Owens and Anna Vella.
OGEO, is a wholly owned subsidiary of Osaka Gas, and part of the Daigas Group. Established in 2009, OGEO was incorporated to house its investments in Energy Infrastructure Investments, jointly owned with Marubeni and APA Group. In 2009, the consortium invested in the North Brown Hill Wind Farm at Hallet, South Australia.
With Daigas Group’s Carbon Neutral Vision announced in 2021, OGEO has had a revived focus on investments in renewable and decarbonization investments. These investments will strengthen Daigas Group’s global energy presence and will strategically support carbon offsets within the Daigas Group Business and provide synergies to the Daigas Group’s e-methane goals.