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ARTICLE · 03 AUGUST 2017

Changes in FIRB approval requirements for renewable projects

Norton Rose Fulbright Australia
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The new changes may clarify for foreign investors the application of the agricultural land regime to wind or solar farms.

AustraliaGovernment, Public Sector
Raymond Lou
Raymond Lou
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Key takeaways

  • Subject to one exception, acquisition of greenfield wind or solar farm projects will require prior FIRB approval, irrespective of the value of the land or project. The exception is if the land is currently being used wholly and exclusively for primary production, then a screening threshold of AU$15 million will continue to apply
  • New special rule for a foreign investor that is an owner or operator of one or more existing solar or wind projects in Australia – further acquisition of brownfield wind or solar farm projects will be subject to a higher screening threshold of AU$55 million or AU$252 million
  • There remains some uncertainty on whether a developed and fully contracted wind or solar farm could apply the higher AU$252 million screening threshold

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