WHO SHOULD READ THIS
- Current and future investors in the renewables sector.
THINGS YOU NEED TO KNOW
- New regulations relax Foreign Investment Review Board
(FIRB) requirements around investment in wind and
solar power projects.
WHAT YOU NEED TO DO
- Understand the status of the land prior to entering into any
agreements to acquire the project.
Recent amendments to the Foreign Acquisition and Takeovers
Regulation 2015 (Cth) (Regulations), which
came into effect on 1 July, provide greater flexibility to foreign
investment in renewables projects in Australia - another strong
show of support for this rapidly developing industry.
Previously, established solar or wind power station projects
were generally classified as agricultural land or vacant commercial
real estate. The acquisition of these types of projects by a
foreign investor was therefore often subject to the lower
thresholds applicable to those types of land, being $15 million
