Global law firm Ashurst has advised Eku Energy on its successful bid to develop, own and operate the Big Canberra Battery for the ACT Government. The Big Canberra Battery is a 250 MW / 500 MWh battery energy storage system that can supply energy to one-third of Canberra for two hours during peak demand periods.
Under the Project Agreement with the ACT, Eku Energy will design, construct, commission, own, finance, operate, and decommission the Big Canberra Battery in Williamsdale and enter into an innovative revenue-sharing arrangement regarding the Big Canberra Battery's participation in the National Electricity Market.
The Big Canberra Battery will ensure greater energy security in the ACT by helping to prevent blackouts and network outages during peak periods and contribute to the renewable energy sector.
Construction will start in late 2024, with completion expected in 2025.
Partner Paul Newman said:
"Congratulations to Eku Energy on its bid for The Big Canberra Battery. This project represents a milestone for Eku Energy, as it celebrates its first GWh of battery energy storage in development in Australia."
The Ashurst team was led by partner Paul Newman, who was assisted by: partner Chris Redden, senior associates Mike Webb and Robert Gough, and associates Joshua Hetzel and Jonathan Chew (IPG); partners Damian Salsbury and Andrew Deane, and senior associate Tai Laves (Property); partners Nigel Deed and Con Tzerefos, counsel Jared Lynch, and associates Edwina Wang and Phoebe Phan (Corporate); partners Costa Koutsis and Ian Kellock, counsel Bronwyn Kirkwood, senior associates Elke Bremner and James Sainty and associate Daniel Richards (Tax).
