G+T has advised Vast Solar on the conclusion of a joint venture in the Aurora Solar project near Port Augusta in South Australia.
The project comprises a number of stages, the first being the development of a Battery Energy Storage System (BESS) of up to 140 MW, followed by the development of a 150 MW concentrated solar power plant, a 70MW solar photo-voltaic array and a Thermal Energy Storage System pilot.
Vast Solar is an Australian company that has developed world leading concentrated solar power (CSP) technology, delivering cheaper and more efficient electricity generation.
Vast Solar is partnering with Australian storage technology company 1414 Degrees to deliver the project.
G+T advised on all aspects of the transaction, as well as the assessment of risks associated with the transaction.
The transaction was led by Corporate Advisory partner David Josselsohn and Energy + Infrastructure special counsel Lloyd Chater, with support from partner Amanda Hempel on tenure advice and partner Ben Fuller on planning advice.
Lloyd Chater said: “We were pleased to advise Vast Solar on this significant transaction as it provides them with an exciting opportunity to utilise modular tower CSP technology.”
Gilbert + Tobin has one of Australia’s leading energy transaction practices. Landmark deals on which G+T has advised on include advising the PowAR Consortium on the $3 billion take private of Tilt Renewables, Infigen on its competing takeover bids by Iberdrola and UAC for approx. $900 million, Tilt Renewables’ sale of Snowtown 2 for over $1 billion and Morrison & Co’s sale of 50% of the MacArthur Wind Farm. Gilbert + Tobin also advises a broad range of developers and contractors in the renewable energy sector in relation to project development.