Transaction Legal
K&L Gates
Full Credential Description
Generator Property Management Pty Ltd (GPM) faced the challenge of leasing land for a significant energy project aimed at enhancing the energy infrastructure in New South Wales. The project involved the development of the Waratah Super Battery, which is projected to be one of the largest battery energy storage systems (BESS) globally, with an active power capacity of 850 megawatts and a storage capacity of 1680 megawatt hours. This initiative is crucial for increasing transmission capacity to supply major load centres in Sydney, Newcastle, and Wollongong. To address this challenge, K&L Gates provided tailored legal advice to GPM, assisting in the negotiation of an option to lease the land to EnergyCo. The process included a competitive selection of a developer to undertake the project, which resulted in Blackrock-backed Akaysha Energy being chosen as the successful bidder. The K&L Gates team, led by Sydney real estate partner Samuel Brown and Brisbane real estate special counsel Damiano Castelli, played a pivotal role in navigating the complexities of this leasing arrangement. The successful execution of this lease option not only positions GPM as a key player in the transition to greener energy solutions in Australia but also contributes to the broader goal of establishing more stable and affordable energy sources in the region. This project exemplifies GPM's commitment to supporting transformative energy initiatives and highlights K&L Gates' expertise in managing complex real estate transactions within the energy sector.