Hamilton Locke is pleased to have advised Enervest on the sale of the Hanworth Battery Energy Storage System (‘BESS’) to Octopus Australia. The transaction represents a strategic step for Enervest as it right-sizes its portfolio and focuses on its long-term own-and-operate strategy, while transitioning this asset to a partner who has the capability and resources to deliver the project at pace.
At full scale, the 1.2 GW / 4.8 GWh Hanworth battery, located near Bannaby in the New South Wales Southern Tablelands, will have a storage capacity capable of delivering enough electricity to power more than half a million homes during the evening peak. The battery will connect into Transgrid’s Bannaby Terminal Station that borders the site and, once operational, will smooth out variability in generation and help to stabilise the grid, ensuring a more reliable energy supply.
Enervest, established in 2008, is an Australian-owned developer specialising in the design, financing and operation of large-scale battery energy storage systems.
Commenting on the transaction, Hamilton Locke Partner Jo Ruitenberg said: “We are delighted to have supported the Enervest team on the sale of its Hanworth BESS project to Octopus Australia. It was a pleasure to work with the Enervest team on this landmark transaction, and we look forward to continuing our valued relationship as they continue to develop their portfolio”.
Enervest’s Chief Executive Office Ross Warby said: “This transaction represents a pivotal moment for Enervest and Hamilton Locke’s assistance was instrumental in making the sale of Hanworth BESS a successful and smooth transaction. Their team’s deep knowledge of the energy sector sets them apart and we appreciate their exceptional work and dedication in helping us realise this landmark transaction.”
The Hamilton Locke team comprised Partners Jo Ruitenberg and Matt Baumgurtel, Senior Associate Tim McAlpine-Scott and Lawyer Ally Frizelle, with specialist property, environmental and planning Partners Margot King and Amelia Prokuda, and Lawyer, Raeesa Lambat.
