Global law firm Ashurst Perkins Coie has advised Solar Pacific Pristine Power (Solar Pacific), a subsidiary of Philippine-based renewable energy company Alternergy, on the augmentation and financing of the Palau Solar and Battery Energy Storage System (BESS) Project.
The augmented facility is one of the largest solar-plus-BESS installations in Palau. Prior to the project’s commissioning, over 99% of Palau’s electricity was generated by burning automotive diesel. The augmentation will further reduce Palau’s reliance on imported diesel generation, advancing the nation’s transition toward renewable energy security.
Ashurst Perkins Coie provided end-to-end transactional support, negotiating amendments to the existing Power Purchase Agreement and Grid Connection Agreement with Palau Public Utilities Corporation (PPUC), and negotiated the battery services agreement and long-term services agreement with the BESS facility’s French battery supplier, Saft.
The firm also represented Solar Pacific in its engagement with the project’s financiers, negotiating amendments to existing grant and debt funding agreements with the Australian Infrastructure Financing Facility for the Pacific (AIFFP), administered by Export Finance Australia (EFA) and the Department of Foreign Affairs and Trade (DFAT). The project augments the existing 15.28MWp solar and 10.2MWac / 12.9MWh BESS with an additional 4.8MWac / 19.8MWh BESS.
The project is funded by the AIFFP through EFA and DFAT, reflecting Australia’s commitment to sustainable infrastructure investment across the Pacific.
Partner Mike Webb said:
“We are delighted to have supported Solar Pacific on the augmentation of this landmark project, which builds on the success of the original Palau Solar facility and represents a further significant step in Palau’s transition away from imported diesel generation towards renewable energy security.”
The Ashurst Perkins Coie team was led by partner Mike Webb and consultant David Mason, who were assisted by: counsel Douglas Fung, senior associate Rachel McNally and lawyer Sunny Shan (Projects, energy, environment & resources).
