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 and Wyong) and two sales offices (Melbourne, Sydney)."
Paul Curnow, partner and head of Baker McKenzie'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 AUD 350 million project financing of Neoen's Bulgana Green Power Hub.