Media release: Clayton Utz advises Macquarie's interests on investment in the landmark Asian Renewable Energy Hub
A Clayton Utz team has advised Macquarie Capital and Macquarie's Green Investment Group on their participation in the proposed Asian Renewable Energy Hub (AREH) to be developed in the Pilbara region of Western Australia.
Macquarie will join bp (40.5%), InterContinental Energy (26.4%) and CWP Global (17.8%) in developing the AREH project, which will supply renewable power to local mining customers in the Pilbara, and produce green hydrogen and green ammonia for the domestic Australian market and export to major international users.
AREH will be developed as a large-scale wind and solar hybrid power hub, with a total generating capacity of up to 26 gigawatts (GW). Energy generated from the AREH project will be allocated to existing and new energy users in mining, mineral processing and large-scale production of green hydrogen.
Led by Deputy Chief Executive Partner (Clients and Markets) and energy specialist, Emma Covacevich, together with special counsels Katy Warner and Marni Riley and lawyer Morgan Gabriel, the Clayton Utz team advised Macquarie Capital and Macquarie's Green Investment Group in relation to their interests in, and the structuring of, the AREH project.
Commenting on our involvement, Emma said:
We warmly congratulate Macquarie on its cornerstone investment in this transformational renewable energy project, which has the potential to monumentally shift the energy mix in the Pilbara as one of the largest renewables and green hydrogen hubs in the world.
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