Global law firm Ashurst Perkins Coie has advised leading energy retailer Nectr on two virtual tolling battery agreements with Neoen Australia for Stages 2 and 3 of the Western Downs Battery in Queensland - a facility with a combined capacity of 845 MW / 2.3 GWh.
Nectr is an Australian energy retailer and provider of solar and battery solutions, offering innovative residential electricity plans, commercial energy products, and customer first technology. Nectr is backed by Hanwha Group, a Fortune Global 500 company.
The Western Downs Battery, located in Queensland's Western Downs region, is the largest battery in Queensland. Under the agreements, Stages 2 and 3 of the Western Downs Battery will deliver up to 2-hour and 4-hour virtual capacity services to Nectr, respectively, supporting the delivery of reliable and flexible energy solutions to its customers.
Nectr Head of Energy Trading, Sam Wunnacharoensri said:
“The completion of this long-term offtake arrangement represents a significant commercial milestone, reinforcing Hanwha’s and Nectr’s commitment to supporting Australia’s energy transition while advancing our strategy to deliver cost-competitive energy solutions to the market.
We would like to thank the many individuals across our organisations whose dedication made this outcome possible, as well as the team at Ashurst Perkins Coie for their trusted counsel and expert guidance throughout the transaction.”
Partner Dale Gill said:
"Congratulations to the Hanwha/Nectr team. We are delighted to have advised Nectr on these virtual battery agreements with Neoen Australia. The Western Downs Battery is a landmark infrastructure asset, and these arrangements highlight the increasing sophistication of commercial offtake structures being deployed by companies like Neoen to support Australia's energy transition and Nectr retail customers."
The Ashurst Perkins Coie team was led by partner Dale Gill, who was assisted by Murray Rissik, Ethan Low, Stephen Blair and Harrison Xu (Projects, Energy, Environment & Resources).
