Media Release: Clayton Utz advises on ENERPARC AG's sale of Australian solar portfolio
A Clayton Utz team has acted as Australian legal counsel to ENERPARC AG (Enerparc) in connection with the sale of a 193 MWp portfolio of Australian solar power generation assets to Ingka Investments.
Corporate partner and Energy and Resources practice head Stuart MacGregor led our core team, with key support from senior associate Tristan Appleby and lawyer Morgan Gabriel, in providing vendor local support to German lead counsel at Osborne Clarke.
Commenting on our role, Stuart said:
We warmly congratulate Enerparc on the successful sale of this portfolio. We look forward to continuing our support for their important work, assisting Australian and global corporates to transition to more sustainable modes of energy use and, in Ingka Investments case, its ambition and commitment to be 'climate positive' by 2030.
Enerparc Australia managing director Benjamin Hannig said in a statement that the company was proud to have sold the portfolio in Australia to an "ambitious and reputable investor" and remained "committed to delivering innovative and sustainable energy solutions in Australia".
Enerparc Australia is part of ENERPARC Group, one of Europe's leading utility-scale photovoltaic developers and investors. Ingka Investments is a core business of Ingka Group, the largest owner and operator of IKEA retail stores globally.
By 2030, ENERPARC's goal is to develop a total of 10 GW of solar plants worldwide for its own portfolio and another 10 GW for third-party solar portfolios.
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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.