Pinsent Masons advises Firm Power on sale of the largest proposed battery energy storage system project in Queensland
18 Oct 2023 | 10:30 pm |
Multinational law firm Pinsent Masons has advised Australian-owned energy company Firm Power on the sale of a proposed 500MNW/1GWh battery energy storage system (BESS) project to Octopus Investments Australia.
The Blackstone project, located 30 kilometres from Brisbane, is the largest proposed standalone BESS project in Queensland. Once it is completed it will be able to power 70,000 homes for 24 hours. Firm Power will continue to assist Octopus with the development of the project over the next two years.
The project continues Pinsent Masons’ run of involvement advising on BESS projects in Australia, including advising Fluence Energy on its successful bid to build the Latrobe Valley BESS in Victoria.
The Pinsent Masons team advising on the project was led by Sydney-based corporate partner Joni Henry, with special counsel Hannah Syme and associates Jonathan Duff and Harry Grewal. They were assisted by Finance partner Jim Hunwick and associate Jesse McNaughton.
Commenting on the matter, Joni Henry said: “There is real momentum in Australia when it comes to the energy transition to renewables and battery storage projects, such as Blackstone, play a vital role in this transition as more renewable energy comes online. We are delighted to have assisted Firm Power on this significant transaction in the Australian energy market.”
Firm Power began operation in 2019 to focus on large-scale BESS projects and has since expanded into other energy transition solutions.
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