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ARTICLE · 05 MARCH 2018

Changes to treatment of wind and solar power stations under FIRB

Corrs Chambers Westgarth
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The FIRB changes have clarified the acquisition of agricultural land in connection with wind and solar power stations.

AustraliaGovernment, Public Sector
James Morley
James Morley
Robert Clarke
Robert Clarke
Simone Lim
Simone Lim
Jordana Montag
Jordana Montag
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CHANGES TO TREATMENT OF WIND AND SOLAR POWER STATIONS UNDER FIRB

Changes to the Foreign Acquisitions and Takeovers Regulation 2015 (FIRB Regulations)1, sought to clarify the treatment of agricultural land used in connection with wind and solar power stations. An acquisition of an interest in Australian land is a notifiable action that will require FIRB Approval if the consideration payable meets certain thresholds.2

Following the changes, land comprising wind and / or solar power stations are now treated as developed commercial land3 rather than vacant commercial land or agricultural land.4 Consequently, the relevant monetary threshold for the acquisition of such land will either be $57 million or $261 million5 (as applicable, please download our table summary for further information). Approval under the Foreign Acquisitions and Takeovers Act 1975 (FIRB Approval) will only be required where the value of the acquisition exceeds the

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