The REZs are a multi-billion dollar NSW-government transmission infrastructure initiative allowing for the connection of significant new renewable energy generation, firming and storage by private sector developers. There is no precedent in Australia or internationally for the NSW REZ structure.

To gain access to the REZ the REZ projects pay ‘access fees’ which contribute to the cost of administering the scheme, community and employment purposes and, for some REZs (including CWO), hub-to-project asset costs and centralised system strength.

MinterEllison acted for the Scheme Financial Vehicle in negotiating (in cooperation with EnergyCo) 19 agreements with renewable energy developers to facilitate these arrangements.

The new projects will also almost double NSW’s current operating large-scale wind and solar generation.

Additionally, MinterEllison acted for the Scheme Financial Vehicle in negotiating the payment deed to facilitate the payment by the Scheme Financial Vehicle to the network operator (the ACEREZ Partnership) of amounts to which the network operator is entitled for the delivery of the CWO REZ under applicable legislation, and as determined by the Australian Energy Regulator. The ACEREZ Partnership, a consortium comprising Cobra, Acciona and Endeavour Energy will design, build and finance, and then operate and maintain, the CWO REZ for 35 years.

The MinterEllison team was led by Partner Simon Harvey.

Simon Harvey commented: "We are proud to have supported the Scheme Financial Vehicle in delivering a first-of-its-kind legal and commercial framework that enables streamlined network access and protection against congestion for renewable energy developers. These agreements not only unlock massive infrastructure investment and jobs, they also lay the foundation for a more resilient, long-term sustainable energy future for NSW".