Ashurst has advised Eurus Energy Holdings Corporation (Eurus Energy), a Japanese leading renewable energy provider, on the development of the Coonooer Bridge Wind Farm Project.

Located north-west of Bendigo, Victoria, the Coonooer Bridge Wind Farm is expected to generate about 19.4 megawatts of power, which is enough to supply power to 14,000 homes.

Eurus Energy entered a subscription for approximately 80% of share capital of CBWF Holdings Pty Ltd. (CBWF), in order to facilitate the development of the project. The Coonooer Bridge Wind Project will be owned by Eurus Energy with 80%, Windlab Developments Pty Ltd. with 17.5%, as well as 33 land owners neighbouring the project with a 3.5% share.

Ashurst Utilities partner, Paul Newman, said: "International investors are highly interested in the Australian renewable energy market.  The Coonooer Bridge Wind Farm Project demonstrates the significance of the Australian renewable energy market for international investors, like Eurus Energy.

"This transaction demonstrates if the Federal Government and the Opposition were to agree on the Renewable Energy Target and provide regulatory certainty in the Australian renewable energy sector,  there would be significantly more international investment in the development of these types of projects."

Ashurst Corporate partner, Natsuko Ogawa, commented: "This transaction demonstrates the value Japanese companies continue to deliver through their investments and partnerships in the Australian energy market.

"This transaction is another great example of a Japanese company with capital to invest and leading technical and commercial expertise to offer, making a valuable contribution to the development of an emerging industry in Australia."

The construction of the Coonooer Bridge Wind Farm will commence in July, with expected completion by early 2016.

The Ashurst team advising on the matter comprised of lead partner Natsuko Ogawa, senior associates Mitchell Ainsworth and Megan Trethowan, lawyers Akiko Morioka, Lachlan Salt and Richard Sletvold (Corporate), lead partner Paul Newman, counsel Joy Hooker, senior associate Peter Arnold, senior foreign associate Helen Babington, lawyers Yun Ho and Jordan Wright (Utilities), partners Richard Brooks and Damian Salsbury, counsel Vanessa Flax and senior associate Dayna Thomas (Property), partner Robert Jamieson (Environment), partner Lionel Meehan (Finance/Restructuring), senior associate Liam Nankervis (Intellectual Property) and lawyer Ben Wong (Disputes).