Akin Gump Advises J-Power Australia on First-of-Its-Kind Energy Project
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(Singapore) – Akin Gump is advising Electric Power Development Corporation, the listed Japanese energy company and one of the largest power generators in Japan, better known as “J-Power,” on its participation in a world-first project to produce hydrogen from Australia’s vast brown coal reserves in the Latrobe Valley in Victoria.
Hydrogen can be used for transport fuel cells that operate as large-scale portable batteries and power generation units, but it is an extremely clean fuel. Combined with a proposed carbon dioxide (CO2) storage component, it is hoped that CO2 from the coal conversion can be captured and stored, meaning the production process is also eco-friendly. Victoria has considerable offshore storage capacity.
Akin Gump’s role includes advising J-Power on its role and responsibilities under relevant funding and project coordination agreements, energy performance certificate contracts and site arrangements, intellectual property licencing and protection, and corporate and associated legal compliance issues.
The project, with investment totals of AUS$496 million, was announced on April 12. Kawasaki Heavy Industries and J-Power are leading the transaction in which Marubeni Corporation and Iwatani Corporation of Japan are also participating. The project is also supported by the governments of Japan, the state of Victoria and the commonwealth government of Australia, which are committing $100 million in funding to the project.
Akin Gump Singapore energy partner Michael Joyce is leading the Akin Gump team advising J-Power, with support from partner Paul Greening and associate Kitty Ng.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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