Source: MinterEllisonRuddWatts
Channel Infrastructure has entered into an Asset Sale Agreement with US-based Seadra Energy Incorporated, granting Seadra Energy an option to purchase certain permanently decommissioned parts of the former refinery.
Leading law firm MinterEllisonRuddWatts advised its long-standing client Channel Infrastructure on the deal.
If Seadra Energy chose to proceed with the purchase, the sale of these assets provides Channel Infrastructure an opportunity to free up space at its Marsden Point site and consider repurposing and site restoration opportunities, such as the potential manufacture of green hydrogen and eSAF at Marsden Point. These site repurposing opportunities have the potential to contribute to New Zealand’s wider decarbonisation efforts and energy transition, and bring the potential for new jobs for Northland.
Corporate Partner Isaac Stewart led the transaction and believes the signing of the agreement represents an important milestone for Channel Infrastructure as it continues to play a leading role in New Zealand’s energy transition.
“As legal counsel for Channel Infrastructure, we have been privileged to work closely with the dedicated deal team throughout this transaction. The company’s commitment to a sustainable future is truly commendable, and we are proud to be part of this transformative journey,” says Isaac Stewart.
