Allens has advised Pacific Green on the development and sale of the Limestone Coast North Energy Park battery energy storage system (BESS) to Intera Renewables, a wholly owned subsidiary of Palisade Partners.
The 250MW/500MWh BESS is located in the Limestone Coast region of South Australia and is expected to commence commercial operations in early 2027.
'The development of the Limestone Coast North BESS represents a trend we are seeing across Australia in terms of the important role standalone BESS will play in Australia's energy transition. It is also great to see Pacific Green, as a new entrant in the Australian market, achieve this milestone,' said Partner and energy sector leader Kate Axup.
'Large-scale energy storage assets are an attractive acquisition target for fund managers like Palisade Partners and we hope to be involved in many more transactions like this one this year,' said M&A Partner Chelsey Drake.
The firm advised on all aspects of the transaction including the project documents, connection arrangements, offtake, the sale process and financing.
Allens has recently been involved in a number of notable battery projects, including advising the lenders on Australia's largest standalone BESS financing, ZEN Energy on new battery and solar investment platform and ENGIE on virtual battery offtake agreement.
