Allens advises on Victoria's first renewable energy auction

Allens has advised the Victorian Department of Environment, Land, Water & Planning on the state's first renewable energy auction, which will deliver more than 900 megawatts of new clean energy.

Allens advised on all legal aspects of the auction design and tender documentation, and was one of three panel firms which advised on tender evaluation and negotiation.

The auction exceeded its original target of 650 megawatts by almost 45 per cent, delivering 928 megawatts of renewable energy as part of the Victorian Renewable Energy Targets (VRET).

The projects will generate a combined $1.1 billion of economic investment in regional Victoria and create more than 900 jobs, including 270 apprenticeships and traineeships.

'We are pleased to have worked with the Victorian Government on this innovative approach to renewable energy development,' said lead Partner Paul Kenny.

'The Victorian renewable energy auction scheme is an important component of the Victorian Government's renewable energy agenda, and will be critical to ensuring the state meets its targets of 25 per cent by 2020, rising to 40 per cent by 2025.'

The advice builds on Allens' extensive experience in all aspects of renewable energy development and delivery. The firm's renewable energy team brings together expertise in the complex and broad ranging legal issues associated with the development, acquisition and sale of renewable energy assets. This includes acting for sponsors, purchasers, vendors and financiers on all aspects of renewable projects, from M&A to finance, tax and infrastructure.

Ends