Baker McKenzie successfully advises Risen Energy (Australia) in the sale of its 100MW/400MWh Coleambelly BESS project in NSW to Octopus Australia (Project). The Project is located west of Wagga Wagga, and has already secured both planning approval and grid connection approvals.
Risen Energy (Australia) is a wholly-owned subsidiary of Risen Energy Co. Ltd, and has been developing utility-scale solar and BESS projects in Australia since 2008. Risen Energy Co. Ltd is a hi-tech enterprise listed on Shenzhen Stock Exchange and tier-1 PV panel manufacturer and leading renewable project developer globally.
Octopus Australia is a specialist renewable energy developer and fund manager, with over AUD 1.4 billion assets under management across wind, solar and hybrid technology projects.
Baker McKenzie’s lead partner and head of the Australian energy practice, Raymond Lou stated: “We have worked with Risen Energy for nearly 10 years in Australia and this transaction truly demonstrates that, in addition to large-scale solar PV projects, they can also develop and deliver the complex, grid-connected BESS projects that the Australian energy market needs. Coleambelly BESS Project is strategically located in one of the NSW’s strongest renewable corridors, and the transaction represents a terrific outcome for the State’s long-term storage targets and reliability of renewable energy.”
Raymond also commented: “We are seeing a real surge on investments in BESS projects in Australia, which is essential to provide firming capability that our electricity grid needs as we transition from baseloads to intermittent renewables.”
Baker McKenzie has been advising Risen Energy since the Project’s inception, from initial project development to the sales process. Raymond was assisted by other members of our renewables projects team including Sarah Merrett, Tom Lennox, Macy Jong, William Tai and many others.