Norton Rose Fulbright advises ACE Power on solar and battery joint venture in Australia

Global law firm Norton Rose Fulbright has advised ACE Power on its joint venture agreement with Osaka Gas Energy Oceania Pty Ltd (“OGEO”) to develop a portfolio of utility-scale solar and battery projects with a total capacity of more than 500MW in NSW and Queensland, Australia.

ACE Power is an experienced developer of renewable energy projects, focused on collaborating with local communities to develop clean energy projects that will generate positive benefits to the community and the environment.

Through the deal OGEO, a subsidiary of Osaka Gas Co., Ltd., is making its first utility-scale renewable investment in Australia since its wind renewable investment in Hallet 4 in South Australia in 2009. Osaka Gas Co., Ltd., also known as Daigas Group, is the second largest gas utility in Japan and has a global presence in the energy sector.

The Norton Rose Fulbright team advised on all legal aspects of the agreement.

Norton Rose Fulbright energy partner Kate Muller commented:

“Early stage joint venturing is becoming more prevalent as renewable energy developers partner with others proactively managing their decarbonisation and energy transition strategies.  It’s a pleasure to have a role in bringing these parties together, where each brings their strengths to the fore, to accelerate the build out of renewable energy and storage assets in Australia.”

The Norton Rose Fulbright team was led by Kate Muller and supported by senior associate Tarrant Sewell, associate Diarmuid O’Carroll and international trainee Emily Allison on the core transaction documents; and real estate partner Michael McKee and senior associate Dan Humpage on tenure arrangements.