PRESS RELEASE
Sydney, Australia, 31 May 2018 – Baker McKenzie has successfully assisted its longstanding client, Mars Australia in signing a 20 year power-purchase agreements (PPA) with Total Eren to generate the equivalent of 100% of Mars’ electricity from renewable energy by 2020.
Total Eren is developing and will build the Kiamal Solar Farm near Ouyen, Victoria which will be operational in mid-2019 and will add solar power to the national grid. The Mars PPAs will also facilitate the planned build of a second renewable project by Total Eren in NSW.
Baker McKenzie’s lead partner on the transaction, Zoe Hilson stated: “The energy procured through the corporate PPA will cover the energy requirements of Mars’ six Australian factories (Asquith, Ballarat, Bathurst, Wacol, Wodonga & Wyong) and two sales offices (Melbourne, Sydney).”
Paul Curnow, partner and head of the Firm’s Asia Pacific Renewable Energy and Clean Technology practice, who assisted on the transaction, added: “We were delighted to act for our longstanding client, Mars Australia, in what was an innovative PPA that will assist the company’s growth trajectory in a sustainable manner.”
Zoe and Paul were assisted by a Baker McKenzie team comprising: Teresa Ientile, Lewis Apostolou, Bryce Clarke, Lauren Drake and Aditya Shivam.
Baker McKenzie has established a market leading reputation for acting on PPAs, having recently advised on the A$350 Million Project Financing of Neoen’s Bulgana Green Power Hub and recently launched a report on how to structure renewable corporate PPAs in the Australian market – Green Hedging: A Guide to Structuring Corporate Renewable PPAs.
