Allens has helped a retail chain in its long-term agreement to buy the output of soon-to-be-built solar power plants in New South Wales.
The leading firm is advising Coles Group on a 10-year power purchase agreement (PPA) with Metka EGN, a global developer, owner, and operator of clear-energy assets.
Under the agreement, Coles will buy more than 70% of the electricity generated by the facilities to be built and operated by EGN in NSW. Construction of the solar farms is expected to begin in September. They are expected to come online in July.
Financial details of the deal were not disclosed, but the PPA covers 10% of the national retail chain’s electricity usage across Australia.
“From our perspective as lawyers, it is very interesting to be involved in the spread of corporate PPAs across multiple sectors of the Australian economy,” said Kate Axup, who heads the Allens team.
The Allens team also includes managing associate Karla Drinkwater, senior associate Danielle Jones, and associate Kanana Fujimori.
Allens has been active this year in the negotiations of PPAs. The firm has helped ink the PPAs between Sydney Airport and CWP Renewables, Intelligent Water Networks and 13 Victorian water corporations, New Energy Solar/First Solar and Kellogg’s Australia; and Alinta Energy and the Solar River Project.