A global wind-energy power player has bought a majority stake in the wind component of a massive renewable project in New South Wales with the help of Norton Rose Fulbright (NSW).
The global law firm advised Walcha Energy, is a joint venture of MirusWind and Energy Estate, on all legal aspects of the development and sale of a majority interest in the Winterbourne Wind Farm to Vestas. Financial terms of the deal have not been disclosed.
The wind farm is the principal wind component of the 4GW Walcha Energy Project, which NRF said is the biggest and most ambitious renewable energy project in Australia’s main grid. The project combines wind, solar, and pumped storage hydro components to create a renewable energy hub at Uralla in the New England area of NSW. Winterbourne has the potential to be expanded to as much as 700MW in capacity.
“The work done on this transaction involving M&A, planning, property and regulatory works streams is a great demonstration of the combined strength of our full-service energy practice. We are delighted to have advised on all aspects of this milestone development. Vestas’ acquisition of a majority stake in the 700MW Winterbourne Wind Farm demonstrates strong investor confidence in the renewable energy industry and in the potential of the broader Walcha Energy Project,” said Martin Irwin, corporate M&A partner.
Irwin, who headed the NRF team, was supported by real estate partner Michael McKee, environment and planning partner Noni Shannon, and regulatory partner Claire Forster. Corporate M&A special counsel Sarah Chen, real estate senior associates Duncan Webber and Sharon Kennedy, corporate M&A associate Michael Phillips, and paralegal Julie Zhu were also part of the team.