Global law firm Ashurst has advised Macquarie Asset Management's Green Investment Group (GIG) and Shell Energy Australia on legal aspects of the development and financing of the Rangebank Battery Energy Storage System (Rangebank BESS) located in Cranbourne West, Victoria.
Rangebank BESS is a battery energy storage system which will have approximately 200MW / 400MWh storage capacity. Once operational, it will have the storage capacity to power the equivalent of 80,000 homes across Victoria for an hour during peak periods. This will be Shell Energy's first grid-scale battery investment in Victoria and its first direct equity investment in a utility-scale BESS globally. Through an offtake agreement, Shell Energy will have access to 100% of the battery's offtake over a 20 year period.
Partner Chris Redden said:
"We are delighted to have advised Macquarie's Green Investment Group and Shell Energy on the Rangebank BESS. It is exciting to work with such great clients and to assist in delivering grid scale firming capacity for energy users in Victoria."
The Ashurst team was led by partners Chris Redden, Chris Skordas, Kate Phillips, and David Jardine, who were assisted by: Counsel Douglas Fung, senior associates Kate Latta, Mike Webb, and Robert Gough; and associates Priscilla Umaria, Lucinda Merrett, Harrison Xu, and Andrew Bennett (International Projects Group); associates Rediete Aborete G Messkel and Claudia Lang (Transport & Infrastructure); senior associate Jake Saccardo and associate Jack Kelly (Real Estate); partners Clare Lawrence and Jeff Lynn, senior associate Tess Birch, and associate Ian Harris (Planning, Access & Environment); partner Murray Wheater, senior associate David Donaldson, and associate Rebecca Karpin (Corporate Transactions).
