Herbert Smith Freehills Kramer advises Wollemi Capital on its acquisition of ASX-listed MPower

Herbert Smith Freehills Kramer (HSF Kramer) is pleased to have advised Wollemi Capital on its acquisition of substantially all of the business and assets of ASX-listed MPower Group Limited (MPower).

MPower is a specialist developer, owner and operator of mid-scale solar, battery storage and microgrid systems. The acquisition of MPower is part of Wollemi’s broader commitment to scaling the rollout of decentralised energy assets across Australia.

Wollemi is a global specialist climate investor with staff across Australia and the USA. The acquisition provides Wollemi with a platform to deploy a significant capital investment of more than A$100 million to support and build on MPower’s pipeline of solar and battery projects across Australia.

This acquisition marks a continuation of HSF Kramer’s longstanding relationship with Wollemi Capital. HSF Kramer has advised Wollemi since its inception, including in relation to Wollemi’s:

• ~A$220m Series A capital raising in 2023, believed to be one of Australia’s largest, and subsequent Series B capital raising;
• strategic partnerships, including with Commonwealth Bank of Australia; and
• recently announced commitment from Rest Superannuation for ~A$230 million.

The HSF Kramer corporate deal team was led by partner Clayton James and senior associate Jack McDonell. They were supported by solicitors James Newton and Celine Nalbandian, alongside a number of energy and projects specialists.

Clayton James said, “We are very proud to continue to support Wollemi in their journey of investing in impactful decarbonisation projects and look forward to witnessing the future success of the Wollemi and MPower combination. This transaction is another example of HSF Kramer’s expertise in executing complex transactions for sophisticated private capital clients.”

Tim Bishop, co-founder and co-CEO of Wollemi Capital said, “The MPower acquisition advances Wollemi's mission to accelerate decentralised clean energy infrastructure across Australia. Combining our capital strength with MPower's proven solar, battery and microgrid expertise positions us to deliver climate infrastructure at scale. We're grateful for HSF Kramer’s trusted counsel from our inception through this transaction.”