Global law firm DLA Piper has advised Pacific Green, a global leader in battery energy storage solutions (BESS), on a DevEx loan facility of up to AUD77 million with Longreach Credit Investors and the Australian Philanthropic Services Foundation. The 24-month facility will support the development of a 7 GWh battery energy storage pipeline and drive the expansion of Pacific Green’s platform in the Australian market.
The funding will accelerate the rollout of Pacific Green’s battery energy storage system (BESS) projects across the National Electricity Market, reinforcing its commitment to supporting Australia’s transition to clean energy.
The DLA Piper team was led by Finance partner Alex Regan and special counsel Caroline Rowe, with support from solicitor Sophia Davies and senior paralegal Cameron O’Connor. The team advised on all legal aspects of the development capital raise, which is among the first of its kind in the Australian market.
DLA Piper partner Alex Regan commented: “This facility unlocks significant capital for Pacific Green to continue to expand their BESS Portfolio. It demonstrates how DLA Piper supports clients in delivering the investment and innovation required to advance the country’s energy transition.”
This transaction follows DLA Piper’s recent work advising Pacific Green on landmark BESS offtake arrangements for up to 3.5 GWh of capacity in Australia.