In particular, the equity model provides a steady income stream to the Wambal Bila, an organisation composed of Wellington Aboriginal community members. The model enables the organisation to build business knowledge and capacity.
The model also grants the Wambal Bila a chance to share in the revenues of the Wellington BESS project throughout its lifespan and entitles the organisation to an annual priority distribution amount.
Low worked on the transaction alongside an Ashurst core team comprising senior associate David Donaldson and associate Joshua Chin, with support from partners Murray Wheater and Lisa Simmons and associate Vien Siu.
The 300MW/600MWh Wellington BESS project is situated in regional NSW. The Stage 1 BESS is set to energise in 2026.