The firm coached Telstra and SmartestEnergy Australia through big buys
King & Wood Mallesons (KWM) has coached Telstra and independent renewable energy company SmartestEnergy Australia on their respective power purchase agreements (PPAs).
The current PPA is Telstra’s seventh, and it will see the company secure 50% of the electricity produced by the Glenellen Solar Farm in Riverina, NSW. The 260MW project was given the green light for construction by the NSW Independent Planning Commission in December 2023.
While in the construction phase, the project is anticipated to create 200 jobs. Once operational, Telstra’s portion of the solar farm’s output is projected to reach 210GWh annually – sufficient to power over 37,000 homes and reduce carbon emissions by around 130,000 tonnes each year.
Partner Shirley Cheng took the lead on this transaction for KWM. She was supported by senior associate Tiffany Yang.
SmartestEnergy Australia PPA
Meanwhile, a KWM team headed by partner Josh Thorneycroft supported SmartestEnergy Australia as the offtaker in a PPA with Neoen.
Under this agreement, SmartestEnergy Australia will acquire 50% of the output from the Culcairn Solar Farm in NSW for the next four years. The offtake agreement is expected to go into effect in 2026.
The move progresses the country’s switch to clean energy.
“We look forward to seeing the contribution the project will play in powering New South Wales businesses and the energy transition”, Thorneycroft said.
He was assisted by solicitors Thanaya Naidu and Ruby Day in working on this deal.