Allens has helped water corporations in Victoria on their road to meeting energy and emissions target.
The leading firm advised Intelligent Water Networks (IWN) on a corporate power-purchase agreement (PPA). IWN has also coordinated the incorporation of Zero Emissions Water (ZEW) Ltd on behalf of 13 Victorian water corporations.
ZEW is to enter into a PPA to promote renewable energy generation in the state. The move also helps the water corporations meet the target of zero net emissions by 2030, which was set by the state government of Victoria.
The Allens legal team was headed by partner Anna Collyer, who’s part of the firm’s projects team, which also included senior associate Danielle Jones and lawyer Mohamed Khairat.
The corporate team included partners Mark Malinas and Geoff Sanders, financial services counsel Jo Ottoway, managing associate Michelle Bennett, associate Elysia Longo, and graduates Yin Lim and Tom Lawson.
Tax matters were handled by partner Craig Milner and senior tax counsel Jennee Chan. The firm’s finance team included partner Michael Ryan, managing associate Lisa Zhou, and lawyer Philip Hilton. Partner Ted Hill and associate Darcy McLennan formed the competition team.
“Our work with IWN is our first PPA with water utilities and shows the interest different industries have in structures that help meet energy and emissions targets,” Collyer said.
The team led by Collyer helped IWN on the best possible structure for the PPA, which was complicated by the large number of participants in the project. It also handled the drafting of the members’ agreement and the subsequent drafting and negotiation of the PPA.
Allens said that the PPA is linked to a part of Total Eren’s proposed 200MW Kiamal Solar Farm. It will demonstrate the shared commitment of the water companies to renewable energy generation and help in meeting emissions target set by Victoria.
“As more and more businesses focus on the practical things, they can do to manage their energy costs and pursue their emissions reduction goals we expect the trend of corporate PPAs to continue,” Collyer said.