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    Ashurst advises EnergyAustralia on joint venture with EDF power solutions Australia for Lake Lyell Pumped Hydro Energy Storage Project

    Global law firm Ashurst has advised EnergyAustralia on its joint venture with a wholly owned subsidiary of Électricité de France (EDF), EDF power solutions Australia, to co-develop and deliver the Lake Lyell Pumped Hydro Energy Storage project (LLPHES) in Lithgow. If developed, the Project would be capable of producing 385 megawatts (MW) of reliable dispatchable energy – enough to supply over 250,000 homes in New South Wales (NSW) for up to eight hours.

    EnergyAustralia is an electricity and gas provider for more than 1.6 million Australian customers. EDF power solutions Australia develops, builds and operates renewable and low-carbon power plants as well as flexibility solutions and transmission assets.

    The LLPHES Project was previously wholly owned and developed by EnergyAustralia. Under the joint venture, EnergyAustralia retains a 25% interest and EDF holds a 75% equity interest. EnergyAustralia retains first rights to the power offtake for the project.

    The Project is working towards submission of its Environmental Impact Statement in 2025, with a final investment decision (FID) targeted for late 2026. Following the FID and financial close of the project, the land which the project site is situated will be transferred by EnergyAustralia to the project SPV.

    Partner Kylie Lane said:

    "Ashurst is pleased to have advised EnergyAustralia on its strategic partnership with EDF, and to have supported the development of the Lake Lyell PHES over a number of years. The development of pumped hydro projects such as the Lake Lyell PHES will help accelerate the transition to clean and renewable energy by providing storage that will firm renewable energy."

    The Ashurst team was led by partner Kylie Lane, who was assisted by senior associate Sara Malek and associate Amy Huang (Corporate transactions); partner Justin Jones and senior associate Alain Van Der Westhuizen (Competition); partner Tony Hill and senior associate Rhea Nair (Water, Planning, Access & Environment); partner Dan Brown, consultant Matthew Stott and senior associates Tristan Shepherd and Sarah Waring (Projects & Energy Transition); partner Alexandra Peace and counsel Lucy Woodruff (Real Estate); and partners Elke Bremner and Ian Kellock and senior associate Anthony Hui and James Sainty (Tax).