Thomson Geer has advised Greenspot on its acquisition of the Wallerawang Power Station from EnergyAustralia.
Greenspot is a joint venture between the owners of Borg and Bettergrow, two leading businesses headquartered in New South Wales.
Opened in 1957, the Wallerawang Power Station is located near Lithgow in central-western New South Wales and was an active coal fired power station until 2014.
Greenspot will undertake decommissioning, demolition and rehabilitation works and intends to repurpose the site into an industrial park which will attract energy and water intensive businesses, generate economic activity and create employment in the Lithgow area and the NSW Central-West region.
The purchase of the Wallerawang power station site includes buffer lands and arrangements with the New South Wales State Government and local stakeholders.
Greenspot hopes that the transformation of the 450-hectare site will serve as an example of what can be done to assist in the reshaping and reinvigoration of regional economies which have traditionally relied heavily on coal based businesses.
Greenspot CEO and former partner at Thomson Geer, Brett Hawkins said, “We are excited to reach this milestone.”
“We are very appreciative of the efforts of the Thomson Geer team in helping to get us to this point through a lengthy and complex process. There is a lot of work to do from here and we are looking forward to working with all stakeholders in coming years,” Mr Hawkins continued.
The Thomson Geer team comprised of Partners Simon Ralton and Justin Madden, Special Counsel Fiona Mudie and Lawyer Anni Gao.