Spain-based infrastructure company Grupo Cobra has retained DLA Piper to advise on its delivery of the Central West Orana Renewable Energy Zone (REZ) transmission network in central New South Wales.
The Madrid-headquartered company, together with its consortium partners Acciona and Endeavour Energy, entered into a commitment deed with the New South Wales government just prior Christmas, to be the preferred network operator for the project.
The consortium, known as ACEREZ, will build, operate, and maintain the REZ transmission network for the next 35 years.
The project involves the design, financing, construction, operation, and maintenance of 330kV and 500kV clean energy transmission lines and associated infrastructure, with an estimated investment of $10 billion by 2030.
The new transmission infrastructure will enable generators such as solar and wind, as well as energy storage providers to connect to the grid.
DLA Piper Partner José de Ponte says the project will support the decarbonisation and stabilisation of the New South Wales electricity grid.
“It will be Grupo Cobra’s first major project in Australia. We were delighted to advise on this unique project, which is the first of its kind in the Australian market – the delivery of major, regulated, renewable energy transmission infrastructure via a PPP structure.”
The 20,000km-square kilometre REZ is the first renewable energy zone in regional New South Wales. The new transmission infrastructure will enable generators such as solar and wind farms and energy storage providers in the REZ to connect to the electricity grid.
The initial network capacity of the transmission infrastructure is expected to be 4.5 GW. It will likely increase to up to 6 GW by 2038.
José María Castillo, CEO of Grupo Cobra, says the company is keen to contribute to the development and construction of electricity infrastructure such as the REZ to help address the expansion of reliable and clean energy in the state.
“Cobra is here to stay, and we are committed to Australia and its people. We want to ensure long-term economic benefits for the Central West Orana region and contribute to job creation.”
Grupo Cobra is a specialist provider of water, gas, electricity, and communications distribution networks, and a leader in renewable energies in Spain and Latin America.
Endeavour Energy is 50.4% owned by an Australian-led consortium of long-term investors in the private sector operating the network under a 99-year lease. The private sector consortium comprises of funds and clients managed by Australia’s Macquarie Asset Management, Canada’s British Columbia Investment Management Corporation, and Qatar Investment Authority.
The remaining 49.6% is held by the state of NSW via a corporation constituted under the Electricity Retained Interest Corporations Act 2015.
Acciona is a global provider of sustainable solutions in transport infrastructure, renewable energy, and water.
Write to Adam Orlando at Mining.com.au
Images: Grupa Cobra
