Australia’s leading independent law firm, Corrs Chambers Westgarth has advised Wambal Bila Limited (Wambal Bila), on its groundbreaking deal to establish an equity partnership between renewable energy developer AMPYR Australia Pty Ltd (AMPYR) and the Wellington Aboriginal Community (Community).
Wambal Bila, a company limited by guarantee established by the Community, has the option to acquire a 5% equity interest in a battery energy storage system (BESS) of 300MW/600MWh, to be developed by AMPYR near Wellington, NSW (Wellington Project). This equity interest secures ongoing revenue and profit participation for Wambal Bila, and empowers it to invest in a range of 'closing the gap' initiatives in the Community.
The Wellington Project is expected to begin development in 2025. The transaction positions Wambal Bila to receive equity revenue over the 20+ year lifespan of the Wellington Project, and opens the door for Wambal Bila to participate in stage 2 of the project (expected to commence in 2026).
Led by partner Lucy Carter, and supported by partners Melissa Grinter, James Abbott and Luke Imbriano, Corrs advised Wambal Bila on all aspects of the transaction, drawing on expertise from the firm’s corporate, energy and resources, tax, and banking and finance practices. The transaction was undertaken on a pro bono basis, reflecting Corrs’ commitment to its Pro Bono Policy and its responsibilities as a signatory to the Australian Pro Bono Centre’s National Pro Bono Target.
Commenting on the matter, Lucy Carter said: “We’re proud to have advised Wambal Bila on this significant transaction. It represents a groundbreaking approach that prioritises genuine community engagement and could serve as a new equity model for future renewable energy projects.
“This milestone also reflects the strength of Corrs’ cross-practice collaboration, and commitment to pro-bono projects, and we’re pleased to have played a role in bringing it to life."
Wambal Bila Director, Keiyana Guihot added: “The transaction between AMPYR Energy and the newly found Wambal Bila Limited acknowledges and respects the traditional custodianship of the land on which the Wellington Project will operate. It ensures that the Aboriginal Community is not just consulted, but directly involved as stakeholders in a project that will shape the region for generations.
“For the Community, this is not just an investment in energy - it is an investment in people, place, and our future.”