Mallesons has advised Quinbrook Infrastructure Partners (Quinbrook) on the project financing for Stage 3 of the Supernode battery energy storage system (BESS) in Queensland.
Supernode is Quinbrook’s flagship energy storage project at South Pine, strategically located adjacent to the central node of Queensland’s electricity grid. Stage 3 adds 260 MW of capacity, taking Supernode’s total installed capacity to 780 MW / 3,074 MWh and making it one of the largest battery storage projects in Australia’s National Electricity Market.
The ~A$469 million financing is being provided by a syndicate of banks including Commonwealth Bank of Australia, Rabobank, Deutsche Bank, MUFG and DNB Bank.
The Mallesons deal team was led by Partner Rod Smythe, supported by Senior Associate Morgan Clune and Solicitors Annelise Nguyen, Ruby Day, Eliza Saville and Lewis Wallace. The due diligence work was led by Partner Adam Black, supported by Special Counsel Eli Breinl and Solicitor Michael Efstathis.
Commenting on the deal, Rod Smythe said:
“We worked alongside the Quinbrook team on this significant transaction to bolster Australia’s energy market. Stage 3 of the Supernode BESS is a significant step in the continued development of one of the largest battery storage projects in the National Electricity Market.”
Mallesons continues to be at the forefront of market-leading transactions supporting Australia’s energy transition, including recently advising Intera Renewables on its acquisition of the Summerfield BESS.
