KWM is delighted to have advised AGL on its successful acquisition of 100 per cent ownership of two pumped hydro energy storage development projects in the Upper Hunter region of NSW.
The proposed projects are to be located at Glenbawn and Glennies Creek in the Upper Hunter region of NSW. These projects represent an important milestone in AGL’s ambition of adding 12 GW of new renewables and firming to the national grid by 2035. AGL has noted that developing pumped hydro energy storage and other synchronous long duration storage is integral to ensuring reliability and affordability as Australia transitions to a renewable energy system.
KWM’s role in the transaction involved providing legal advice across the commercial, corporate, planning, property and tax aspects of the transaction to AGL and conducting due diligence on these aspects of the transaction for AGL.
A multi-disciplinary KWM team was led by Jo Crew and Nicola Pearl from KWM’s energy and infrastructure projects team and Judith Taylor and Peter Scott from the KWM tax team and supported by Kate Dean, Annie Chen, Holly Stjernqvist, Jessica Wallis, Winston Li, Will Heath, Jessica Zuiderwijk, Alisha Tan and Ryan Matthews.
Commenting on the deal, Partner Jo Crew said:
"We are pleased to have been able to assist AGL with its acquisition of the Glenbawn and the Glennies Creek pumped hydro development projects. It is fantastic to be partnering with AGL to implement Australia’s energy transition."
KWM continues to be at the forefront of market leading transactions supporting Australia’s energy transition. This includes recently advising AEMO Services on Tender 5 for Long Duration Storage Infrastructure and Palisade on its acquisition of Limestone Coast North BESS.
