Energy and renewables

Bell Gully has particular experience and expertise in the strategic planning and execution of M&A transactions in the broader energy sector, as well as providing strategic environmental policy and resource management advice and advice regarding partnerships with iwi / hapū. 

The team incorporates market-leading climate change, environment and planning and regulatory experts, blended with its energy sector expertise experience across the renewables, oil and gas, generation, lines and retail sectors. It includes project finance, tax, consumer law experts and specialists in commercial contracts including power purchase agreements (PPAs).  

As a firm, we recognise the importance of the change that is underway and the speed and scale at which complex projects, developments and transactions must now take place. The energy sector’s successful transition is the key to unlocking the lower-carbon economy New Zealand must achieve to meet its climate obligations and respond to climate change.

The strategic advice we have provided has helped streamline solar, wind, hydro and geothermal projects and investments, and we have a strong focus on emerging areas of regulation such as the design of New Zealand’s offshore wind-licensing regime.

Our team’s work has been independently acknowledged by international legal directories, including a Band 1 ranking for energy and natural resources work in Chamber Asia Pacific 2023 and a Tier 1 ranking for projects and resources management (including environment) in The Legal 500 Asia Pacific 2023. Practice leader David Coull is also ranked in Band 1 for energy and natural resources by Chambers Asia Pacific, and has received global accolades for his work in the energy sector from Who’s Who Legal.

Contact Energy
Advised Contact Energy on aspects of its proposed NZ$600 million Tauhara geothermal generation project.

First Renewables
Advised First Renewables on its development and investment in the Ecogas waste to energy project at Reporoa, which was the first facility in New Zealand to use anaerobic digestion technology to convert waste to energy.

Energy Efficiency and Conservation Authority (EECA)
Advised EECA on a project which will see the New Zealand Government partner with New Zealand Steel for it to build and operate an electric arc furnace at Glenbrook Mill. This will see renewable electricity and scrap steel replace coal and ironsand for half of the Glenbrook factory’s steel production, with resulting circular economy benefits. It is New Zealand’s biggest emissions reduction project to date.

Energy Efficiency and Conservation Authority (EECA)
Advised EECA on a partnership between the Government and Fonterra that is forecast to halve the dairy cooperative’s manufacturing emissions by 2030. The deal will see Fonterra commit to undertaking a complex range of projects to cut primarily coal use across six manufacturing sites – resulting in approximately 2.1 million tonnes of earlier CO2e reductions.

Solar farm development
Advised a New Zealand-based client on its arrangements for the development of a proposed large scale solar farm in the North Island, including an option agreement, long term lease and construction contracts.

Igneo Infrastructure Partners
Advised Igneo Infrastructure Partners on its New Zealand energy and infrastructure investments, including its purchase of the Vector transmission business, the Maui line from Shell, the Ultra-Fast Fibre (UFF) assets from WEL Networks, its purchase of the Waste Management business from Beijing Capital, and its recent acquisition of the Eastland electricity network.

Contact Energy AGS acquisition and development
Advised Contact Energy on the acquisition of the Ahuroa underground gas storage facility from Origin Energy and its subsequent development to become a commercially viable facility (which was at the time the first such storage facility in New Zealand and required us to resolve several novel legal issues that had not previously been considered in a New Zealand context).

Contact Energy AGS divestment
Advised Contact Energy on the later sale of its Ahuroa Gas Storage Facility to Gas Services New Zealand for NZ$200 million, together with associated long term gas storage services agreements.

Todd Energy
Advised Todd Energy on its significant M&A acquisition and divestment transactions in the New Zealand energy sector over the last 10 years, including the acquisition of its Kapuni interests from Shell, the sale of its foundation Maui interests to OMV, as well as the acquisition of the Kapuni gas plant and associated assets and contracts from Vector.

Solar project financing
Advised New Zealand Green Investment Finance Limited in relation to its financing of SolarZero, as well as on its financing provided to Lodestone (which was ancillary to senior bank financing).

Opunake Hydro
Advised Opunake Hydro on the acquisition and expansion of its electricity business in New Zealand.

AGL Energy
Acted for AGL on the sale of all of its New Zealand assets by way of several transactions over a 2-year period.

Transpower
Advised Transpower on a number of strategic projects, planning and policy matters relating to the National Grid throughout New Zealand, including a range of Proposed Regional Policy Statements and District Plans, and national policy instruments.

Meridian Energy
Advised Meridian on its wind energy generation projects throughout New Zealand. Meridian is New Zealand's largest electricity (and wind energy) generator. We also assist Meridian on a wide range of planning and policy related matters including maintaining consents and establishing a favourable policy framework.

Tauhara North No. 2 Trust
Advised Tauhara North No. 2 Trust as the owner of the Rotokawa geothermal field and development right holder of the Nga Tamariki geothermal field in the Central North Island in the commercialisation of these fields, including the joint venture for the construction of the 140MW Nga Awa Purua geothermal power station.

Overseas investment consent applications
Advised several new entrant energy companies on successful overseas investment consent applications (both for sensitive land and significant business assets acquisitions), as well as acting for target companies on their vendor information forms, and in each case associated advice as to the application of the Overseas Investment Act in an infrastructure and energy sector context.

Electricity sector contracts
Advised electricity distributors, electricity retailers and other participants in relation to electricity sector commercial contracts and various matters under the Electricity Industry Participation Code, including embedded network issues and distribution agreements.