Vast Renewables Limited (VSTE) F-4/ARegistration of securities (foreign) (amended)

Exhibit 10.24

Joint Development Agreement

North West Queensland Hybrid Power Project Feasibility Study

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Stanwell Corporation Limited (Stanwell)
Vast Solar Pty Ltd (Vast)

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Joint Development Agreement

North West Queensland Hybrid Power Project Feasibility Study

Details

Date: Friday 12 February 2021

Participants

Background

Agreed terms

In this document:

AEMO means the Australian Energy Market Operator (or any successor operator of the National Electricity Market).

Amendment Request has the meaning given in clause 7.8(a). Approved Payroll Costs has the meaning given in clause 8.5(c). Associate has the meaning given to that term in the Corporations Act.

Authorisations means all authorisations, leases, licences, permits, approvals, registrations and consents required by any Governmental Authority for the conduct of the Feasibility Study or the development and operation of the Hybrid Power Project.

Background IP means, in respect of a Participant, the Intellectual Property Rights which:

in each case:

Business Day means a day that is not a Saturday, Sunday, public holiday or bank holiday in Queensland.

Chairperson means the chairperson at meetings of the Steering Committee. Change in Control means, in relation to any entity (the first mentioned entity):

but does not include:

Claim means any allegation, debt, cause of action, liability, claim, proceeding, suit or demand of any nature howsoever arising and whether present or future, fixed or unascertained, actual or contingent whether at law, in equity, under statute or otherwise.

Commencement Date means the date of this agreement.

Communications Plan means the communications plan for the Hybrid Power Project, as amended from time to time by the Steering Committee.

Confidential Information of a Participant (Disclosing Party) means:

Consequential Loss means loss of revenue, loss of production, loss of product, loss of contract or loss of profit, and any indirect, special or consequential loss or damage, howsoever arising and whether in an action in contract, tort (including negligence), in equity, product liability, under statute or any other basis.

Control has the meaning given to that term in section 50AA of the Corporations Act and Controlled has a corresponding meaning.

Corporations Act means the Corporations Act 2001 (Cth).

Cost of Equipment Sales means all reasonable, verifiable and properly incurred Equipment Sales related costs including:

provided that:

Costs Recovery Claim has the meaning given in clause 8.3(a).

CSP Licence has the meaning given in clause 13.5(a).

CSP Technology means the concentrated solar thermal power generation and storage technology developed by Vast.

Decision to Proceed has the meaning given in clause 9.1(b).

Defaulting Participant has the meaning given in 10.1.

Delegated Authorities means the delegated authorities set out in Schedule 4.

Developed IP has the meaning given in clause 13.3 and excludes the Background IP and the Study IP.

Development Fee means a development fee of AU$16.5 million (or such other amount agreed by the Participants in writing) to reimburse or otherwise compensate Vast and Stanwell for:

Direction has the meaning given in clause 15.2(a).

Dispute has the meaning given in clause 11.1.

Dispute Notice has the meaning given in clause 11.2.

Environmental Compliance Policy means the environmental compliance policy for the Hybrid Power Project initially provided by Stanwell and as amended from time to time by the Steering Committee.

Equipment Sales means any revenue earned by Vast or a member of the Vast Group on the:

in each case, determined in accordance with accounting standards adopted or approved by the Australian Accounting Standards Board (AASB).

Equity Investor has the meaning given in clause 4(a).

Event of Default has the meaning given in 10.1.

Exclusivity Period means the period commencing on the Commencement Date and ending on the date that is six years from the Commencement Date.

Expiry Date means 30 April 2022 (or such later date as the parties agree in writing).

Exiting Party has the meaning given in clause 9.5(a).

Feasibility Study means a detailed study conducted to assess and determine the commercial, technical and strategic feasibility and viability of developing the Hybrid Power Project, including the following work:

of a standard customarily required by reputable and credible financial institutions (acceptable to the Steering Committee) to support financing of a development of a similar scale, remote location and technological maturity of the Hybrid Power Project.

Financial Close means, in relation to the Hybrid Power Project or any replacement project (as applicable):

Financial Year means the twelve (12) month period ending on 30 June each year.

First Participant has the meaning given in clause 8.5(a).

Funding Milestones means the funding milestones set out in Schedule 3.

Good Electricity Industry Practice means the exercise of that degree of skill, diligence, prudence and foresight that reasonably would be expected from a significant proportion of operators of facilities in Australia for the generation, transmission or supply of electricity under conditions comparable to those applicable to the Hybrid Power Project consistent with applicable Authorisations, reliability, safety and environmental protection. The determination of comparable conditions is to take into account factors such as the relative size, duty, age and technological status of the Hybrid Power Project and the applicable Authorisations.

Governmental Authority includes any governmental, semi-governmental, municipal or statutory authority, instrumentality, organisation, body or delegate (including any town planning or development authority, public utility, environmental, building, health, safety or other body or authority).

Gross Margin Statement has the meaning given in clause 13.6(f).

Gross Negligence means such reckless conduct in breach of a duty of care as demonstrates a conscious or reckless disregard for the harmful, foreseeable, proximate and avoidable consequences which result or may result from that conduct.

Hybrid Power Project means a proposed 50MW hybrid solar power station to be located near Mount Isa notionally comprising of Solar PV, Battery Energy Storage System (BESS), CSP Technology and gas engines, as may be further defined or expanded during the course of the Feasibility Study or as otherwise agreed by the Participants.

Information Recipient has the meaning given in clause 15.1.

Information Request Response has the meaning given in clause 2.3(d).

Insolvency Event means:

Intellectual Property Rights means all industrial and intellectual property rights recognised in any jurisdiction worldwide, whether protectable by statute, at common law or in equity, including:

Interest means, in relation to a Participant, that Participant’s undivided right, title and interest to the Study IP and may be expressed as a percentage of the aggregate of all the Participants’ Interests at that time.

Interest Rate means a rate of interest per annum that is 2 percentage points higher than the corporate overdraft reference rate published for that day by the Commonwealth Bank of Australia ABN 123 123 124 or if that rate ceases to exist, another rate determined by the Steering Committee.

Ipso Facto Stay means any limitation on enforcement of rights or self-executing provisions in a contract, agreement or arrangement pursuant to sections 415D, 415F, 415FA, 434J, 434J, 434L, 434LA, 451E, 451G or 451GA of the Corporations Act.

Irremediable Default means a default in the observance or performance of a material obligation under this agreement that cannot be remedied (including a breach of confidentiality) but does not include a default in the observance or performance of a material obligation within a time specified in this agreement unless the obligation is incapable of being observed or performed after the end of the time specified.

Joint Venture Agreement means a joint venture agreement between the Participants for the ownership and operation of the Hybrid Power Project.

Kahlbetzer Entity means an entity wholly owned by any one or more of the Kahlbetzer Family Members.

Kahlbetzer Family Member means each of the following individuals, who are extended family members of John Igino Kahlbetzer of 42 The Crescent, Vaucluse, NSW, 2030:

LOI means the “Letter of Intent: Mica Creek CSP Hybrid Power Station” dated 2 March 2020 between Vast and Stanwell.

Loss means any Claim, cost, damages, debt, expense, liability or loss and includes Taxes.

Margin Fee means, for a Vast Project, 8.5% of each and any Vast Equipment Supply Margin.

Margin Fee Cap means:

where:

A = the then current aggregate amount (in AU$) of Stanwell’s monetary contribution under this agreement,

subject always to the Margin Fee Cap never exceeding an amount equal to AU$15,000,000 (15 million dollars).

Mica Creek Power Station means the power station known as the Mica Creek Power Station located near Mount Isa, Queensland.

National Electricity Law or NEL means the National Electricity Law as defined in the Electricity - National Scheme (Queensland) Act 1997.

National Electricity Rules or NER means the National Electricity Rules made under the National Electricity Law (as it applies in Queensland).

New Project has the meaning given in clause 2.3(c).

New Project Notice has the meaning given in clause 2.3(c).

Non-Proposing Participant has the meaning given in clause 2.3(c).

Notice has the meaning given in clause 16.1.

Participant means a party to this agreement.

Payroll Costs Notice has the meaning given in clause 8.5(a).

Personnel means in relation to a Participant, that Participant’s directors, officers, employees, agents, consultants, contractors and subcontractors.

Plant and Equipment means all tools, plant, equipment and other items supplied by a Participant to carry out the Feasibility Study.

Procurement Policy means each procurement policy set out in Schedule 6 (as may be amended from time to time).

Project Agreements means this agreement, and all other agreements or instruments entered into by or on behalf of the Participants in connection with the Hybrid Power Project.

Project Budget and Schedule means the initial budget and schedule for the conduct of the Feasibility Study set out in Schedule 2 as amended from time to time by the Steering Committee.

Project Manager means the person appointed under 6.1, or any replacement appointed under clause 6.3.

Project Policies means the policies for the conduct of the Feasibility Study, including the

Delegated Authorities, WHS Plan, Procurement Policy, Environmental Compliance Policy, Quality Plan, Reporting Policy, Communications Plan and Resourcing Plan.

Project Risk Register means a risk register for the Feasibility Study and the Hybrid Power Project initially provided by Stanwell and as amended from time to time by the Steering Committee.

Project Sites means:

Project Team has the meaning given in clause 7.2(a).

Project Workstreams means the work program for the conduct of the Feasibility Study, as set out in Schedule 1.

Proposing Participant has the meaning given in clause 2.3(c).

Quality Plan means the quality plan provided by Stanwell (as may be amended from time to time).

Related Body Corporate has the meaning given in the Corporations Act 2001 (Cth).

Remaining Participant has the meaning given in clause 9.5(b).

Representative means a person for the time being appointed by a Participant as its representative on the Steering Committee and includes any alternate of that person appointed under the Steering Committee Charter.

Resourcing Plan means the resourcing plan set out in Schedule 5.

Second Participant has the meaning given in clause 8.5(a).

Shareholding Ministers means those Queensland Government Ministers appointed as shareholders under the Government Owned Corporations Act 1993 (QId) in relation to Stanwell.

Stanwell Board means Stanwell’s board of directors.

Stanwell Costs Payable has the meaning given in clause 8.3(c).

Stanwell Payment has the meaning given in clause 8.3(d)(iii)(B).

Steering Committee means the committee established under clause 5 to represent the Participants in relation to the Feasibility Study and this agreement.

Steering Committee Charter means a charter for the Steering Committee which sets out the principles for the conduct of the Steering Committee.

Study Expenses means all capital and operating costs, charges, expenses, fees, Taxes (other than income or capital gains taxes) and other payments and expenditures of and incidental to the conduct of the Feasibility Study set out in the Project Budget and Schedule, up to a maximum of AU$10,000,000 (unless otherwise agreed in writing by the Participants).

Study IP means all Intellectual Property Rights in the Feasibility Study together with all workings, supporting documents, reports and deliverables in respect of the Feasibility Study, or otherwise relating to this agreement, but excluding the Background IP and the Developed IP.

Taxes means taxes, levies, deductions and duties, including fines, penalties and interest on any of them.

Term has the meaning given in clause 2.1(a).

Transfer, of a proprietary or non-proprietary matter, interest or thing means to sell, assign, transfer, convey or otherwise dispose of the proprietary or non-proprietary matter, interest or thing.

Ultimate Holding Company has the meaning given to that term in section 9 of the Corporations Act.

Vast Costs Payable has the meaning given in clause 8.3(c).

Vast Equipment Supply Margin means, for each Vast Project, Equipment Sales less Cost of Equipment Sales calculated in accordance with this agreement (as applicable) and Vast’s annual audited accounts prepared in accordance with accounting standards adopted or approved by the Australian Accounting Standards Board (AASB).

Vast Group means the corporate group comprising Vast and each Associate of Vast.

Vast Payment has the meaning given in clause 8.3(d)(ii)(B).

Vast Project means:

WHS Plan means the work health and safety plan provided by Stanwell (as may be amended from time to time).

Withdrawing Participant has the meaning given in clause 9.2.

In this document unless the contrary intention appears:

Headings are for ease of reference only and do not affect interpretation.

(Term).

The Participants agree that:

the Non-Proposing Participant must notify the Proposing Participant in writing advising whether or not it wishes to participate in the New Project.

The Participants agree that:

Each Participant (indemnitor) irrevocably and unconditionally indemnifies each other Participant and their respective Personnel (indemnitee) from and against any liability, loss, harm, damage, cost or expense (including legal fees) that the indemnitee may suffer or incur as a result of any act or omission of, or any purported assumption of any obligation or responsibility by, the indemnitor or any of its Personnel, done or omitted to be done, or undertaken, or apparently done or omitted to be done or undertaken, on behalf of the indemnitee in connection with the Feasibility Study and not authorised under this agreement.

Subject to clause 2.3, each Participant has an unrestricted right to engage in and receive the full benefit of any activity outside the Feasibility Study or the Hybrid Power Project (whether or not in competition with the Feasibility Study or the Hybrid Power Project or the other Participant) without consulting the other Participant or permitting the other Participant to participate.

Each Participant covenants and agrees with each other Participant:

Each Participant warrants, at the date of this agreement, that:

Notwithstanding any other provision of this agreement, except in the case of fraud, wilful default or Gross Negligence:

The Participants agree to establish a Steering Committee to oversee and govern the Feasibility Study, which will be formed and conducted in accordance with this clause 5.

the Steering Committee fails, at two consecutive Steering Committee meetings, to pass any proposed resolution, either Participant may refer the matter to dispute resolution in accordance with clause 11.

A Participant may arrange (at its own expense) for consultants or other technical personnel (Advisers) and up to two other persons (Observers) to be present at meetings of the Steering Committee to assist its Representatives, or in the case of the Observers to observe but not participate in the meeting, provided that:

Each Representative will have full power and authority to represent the Participant who appointed the Representative in all matters within the powers of the Steering Committee and all acts done by the Representative under this authority will be deemed to be the act of the Participant who appointed the Representative.

Costs and expenses incurred by the Participants relating to the attendance of their respective Representatives at Steering Committee meetings may (unless otherwise agreed), be recovered in accordance with clause 8.3. Any remuneration paid by a Participant to its Representatives cannot be recovered.

The Steering Committee will appoint the first Project Manager.

The Participants will undertake the Feasibility Study:

The Project Team (and any properly authorised Personnel of a Participant) will be entitled at all reasonable times (provided such access is reasonably required for the purposes of the Feasibility Study), and at the risk and expense of the Participant appointing the relevant Project Team member or Personnel, to have access to the other Participant’s Project Site(s), provided that:

The Project Manager must:

The Project Manager must deliver to the Steering Committee monthly progress reports as required in the Project Workstreams and in accordance with Good Electricity Industry Practice which reports must include, at a minimum:

The Participants agree that the Project Policies will apply to the Feasibility Study, and the Participants must comply with (and must procure their Personnel comply with) the Project Policies.

The Participants agree that the Feasibility Study will be conducted in accordance with the Project Budget and Schedule.

(Costs Recovery Claim).

By way of example, following the satisfaction of the first Funding Milestone, the Participants will make available the funds applicable to that Funding Milestone for the purposes of Costs Recovery Claims, and a Participant may submit a Costs Recovery Claim for Study Expenses incurred in achieving the second Funding Milestone.

(Payroll Costs Notice).

If a Participant (Withdrawing Participant) votes against making a Decision to Proceed at a meeting convened under clause 9.1, this agreement is (and any other Project Agreements are, except where the Participants agree otherwise in writing) automatically terminated (subject to clause 18.5).

If a Decision to Proceed is approved by the Steering Committee, the Participants must promptly (and in any case within 60 Business Days) following the Decision to Proceed, seek to:

Vast acknowledges that if a Decision to Proceed is approved by the Steering Committee, Stanwell:

If:

the Remaining Participant must pay to the Exiting Party, an amount equal to the Exiting Party’s monetary contribution under this agreement within 15 Business Days of Financial Close of the Hybrid Power Project or replacement project.

Any one or more of the following events with respect to a Participant (Defaulting Participant) is an Event of Default:

within 10 Business Days after notice has been given by a Non-Defaulting Participant under clause 10.2;

another Participant (Non-Defaulting Participant) may, after it becomes aware of that default, notify the defaulting Participant of that default.

If an Event of Default occurs then until such Event of Default has been rectified:

then the Non-Defaulting Participant may elect, by notice in writing to the Defaulting Participant, to terminate this agreement.

Where Stanwell terminates this agreement under clause 10.4, Vast must pay to Stanwell, an amount equal to the sum of:

within 15 Business Days of the date of termination of this agreement.

If a Participant considers that there is a dispute or difference arising out of or relating to this agreement (Dispute) the Participants must follow the procedures in this clause 11 to resolve the Dispute.

If a Participant considers that a Dispute has arisen, the Participant may send the other Participant a notice which sets out a full description of the matters in dispute or in respect of which there is a difference (Dispute Notice).

Within 20 Business Days of the date the Dispute Notice has been given, the chief executive officers of the Participants must meet and use all reasonable endeavours acting in good faith to resolve the Dispute.

If the Dispute is not resolved under clause 11.3 within 40 days of the Dispute Notice, either Participant may give notice to the other Participant terminating this agreement.

This clause 11 does not prevent a Participant from seeking urgent interlocutory relief from a court of competent jurisdiction where, in that reasonable opinion, that action is necessary to protect that Participant’s rights.

Each Participant must pay its own costs in complying with this clause 11.

A direct or indirect Change in Control of Vast will be deemed to be a Transfer of this agreement requiring the prior written consent of Stanwell, which must not be unreasonably withheld or delayed if Vast:

The Participants will own any and all Study IP as tenants in common in their respective Interests.

Vast will own any and all:

developed and/or derived (whether directly or indirectly) by any Participant in connection with:

(collectively, the Developed IP).

Each Participant must keep the other Participant, and the Steering Committee must keep both Participants, fully informed and promptly notified of the development and creation of any Developed IP.

during the Exclusivity Period and solely for the purpose of the Feasibility Study, the Hybrid Power Project and any other projects jointly undertaken by the Participants during the Exclusivity Period (CSP Licence), subject at all times to the terms of this agreement.

that Vast owes Stanwell further amounts in respect of the Margin Fee, such amounts must be paid by Vast to Stanwell within 10 Business Days after the parties agree or the matter is determined (as applicable).

Vast must either:

(Security) on terms approved by Stanwell (acting reasonably), to secure payment of Margin Fees to Stanwell in accordance with this agreement.

Each Participant must, at its own expense, in respect of the Feasibility Study take out and keep in full force and effect, any insurance:

Each Participant must, at its own expense, procure and maintain broad-form public liability insurance which covers the liability of the Participant and any of its Personnel in respect of:

Each Participant must, at its own expense, procure and maintain workers’ compensation (including industrial diseases at common law) and employer’s indemnity insurance covering all claims and liabilities under any statute and where common law claims are allowed outside of the statutory scheme, for employer’s liability at common law, for not less than $50,000,000 in relation to any one occurrence and unlimited as to the number of occurrences, for the death or injury to:

Each Participant must insure its own Plant and Equipment for an amount of not less than their market value (unless otherwise insured) to the satisfaction of the other Participant.

Each Participant is responsible for all excesses in each policy of insurance to be effected by that Participant in accordance with this clause 14.

If an event occurs that may give rise to a claim involving the other Participant under any policy of insurance held by a Participant in accordance with this clause 14, that Participant must notify the other Participant and must ensure the other Participant is kept fully informed in relation to the claim.

Unless otherwise agreed to by the Participants (acting reasonably) each Participant must ensure that its subcontractors effect similar insurances to that which that Participant is required to arrange under this agreement and the subcontractor’s insurances extend to protect the other Participant in the same manner as provided in this agreement with respect to the Participant’s insurances.

Insurance required by this agreement must be effected before the Feasibility Study is commenced and must be maintained at all times with insurers and on terms approved by the other Participant which approval may not be unreasonably withheld in the case of a responsible and financially capable insurer or insurers.

Each Participant must provide to the Participant upon request evidence of currency of any insurance required to be effected under this agreement.

Each party (Information Recipient):

and provided that, before disclosure:

(each a Direction).

An Information Recipient must:

unless:

A notice, demand, consent, approval or communication under this agreement (Notice) must be:

A Notice given in accordance with clause 16.1 takes effect when taken to be received (or at a later time specified in it), and is taken to be received:

but if the delivery, receipt or transmission is not on a Business Day or is after 5.00pm on a Business Day, the Notice is taken to be received at 9.00am on the next Business Day.

In this clause 17, a word or expression defined in the A New Tax System (Goods and Services Tax) Act 1999 (Cth) has the meaning given to it in that Act.

If a Participant makes a supply under or in connection with this agreement in respect of which GST is payable, the consideration for the supply but for the application of this clause 17.2 (GST exclusive consideration) is increased by an amount equal to the GST exclusive consideration multiplied by the rate of GST prevailing at the time the supply is made.

If a Participant must reimburse or indemnify another Participant for a loss, cost or expense, the amount to be reimbursed or indemnified is first reduced by any input tax credit the other Participant or its representative member is entitled to for the loss, cost or expense, and then increased in accordance with clause 17.2 if the amount is consideration for a taxable supply.

A Participant need not make a payment for a taxable supply made under or in connection with this agreement until it receives a tax invoice for the supply to which the payment relates.

If an adjustment of GST is required as a result of an adjustment event in respect of a supply made pursuant to this agreement then:

To the extent that consideration for any supply by, under or in connection with this agreement includes non-monetary consideration:

This agreement may be altered only in writing signed by each Participant.

Except where this agreement expressly states otherwise, a Participant may, in its discretion, give conditionally or unconditionally or withhold any approval or consent under this agreement.

Any stamp duty, duties or other taxes of a similar nature (including fines, penalties and interest) in connection with this agreement or any transaction contemplated by this agreement, must be paid by the Participants in equal shares.

is independent and survives termination of this agreement.

This agreement may be executed in counterparts. All executed counterparts constitute one document.

The rights and obligations of the Participants under this agreement do not merge on completion of any transaction contemplated by this agreement.

This agreement constitutes the entire agreement between the Participants in connection with its subject matter and supersedes all previous agreement or understandings between the Participants in connection with its subject matter.

Each Participant must do, at its own expense, everything reasonably necessary (including executing documents) to give full effect to this agreement and any transactions contemplated by it.

A term or part of a term of this agreement that is illegal or unenforceable may be severed from this agreement and the remaining terms or parts of the term of this agreement continue in force.

A Participant does not waive a right, power or remedy if it fails to exercise or delays in exercising the right, power or remedy. A single or partial exercise of a right, power or remedy does not prevent another or further exercise of that or another right, power or remedy. A waiver of a right, power or remedy must be in writing and signed by the Participant giving the waiver.

A Participant liable to make a payment under this document is to make the payment without set off, counterclaim or deduction. The Participant to whom a payment is to be made need not make a demand for payment unless a demand is expressly required.

This agreement is governed by the law of Queensland and each Participant irrevocably and unconditionally submits to the nonexclusive jurisdiction of the courts of Queensland.

The provisions of this agreement are subject to any Ipso Facto Stay which may operate to prevent the enforcement of rights under this agreement. To the extent that there is any conflict between the provisions of this agreement and the Ipso Facto Stay, this agreement is to be interpreted subject to the Ipso Facto Stay.

Where this agreement calls for or requires a meeting between the Participants, their Personnel, or the Steering Committee, such meetings may be attended by telephone, video conferencing or any other means of electronic conferencing.

Schedule 1 – Project Workstreams

Securing a long-term offtake from credit-worthy counterparty(s) is a pre-requisite to the project achieving Financial Close. Gas Supply, Transport and Storage (GSTS) is intrinsically bound to the terms of the offtake agreement. To manage investment risk as the Feasibility Study is progressed, the parties will seek to secure progressively stronger commitments from potential offtake partners and GSTS suppliers, such as:

Given this is a critical path activity, the parties have already commenced the electrical connection process with Ergon. Preliminary investigations have generated a preferred route but a full connection application including detailed load flow studies will be required to confirm all connection details (route, costs, capacity, power quality). The connection application process will generally follow the process set out in the NEM rules (i.e. Connection Enquiry, Connection Application, Offer to Connect) but will require some bespoke elements due to the North West Power System (NWPS) not being connected to the NEM.

Obtain all necessary regulatory approvals (local, State and Federal) to allow the Hybrid Power Project to be constructed and operated throughout its life and will involve:

EPC wrap / partnership contract(s) capable of acceptance for all elements of the Hybrid Power Project.

Front-End Engineering Design (FEED) will be conducted to determine the technical requirements and performance, plant specifications, costs and other characteristics necessary to support the other workstreams identified in this Project Plan. FEED will establish the minimum specifications, price, performance and guarantee elements for the execution phase of the Hybrid Power Project and evaluate potential risks and will include:

Indicative deliverables:

The commercial workstream will assess the commerciality and competitiveness of the Hybrid Power Project in the context of the achieving Financial Close including: evaluate and manage potential commercial structures, negotiate agreements (including the Project Agreements), negotiate funding structures (including, ARENA, the CEFC, the NAIF and potentially commercial lenders), prepare financial models, manage legal, compliance and accounting matters, manage the Project Risk Register.

The stakeholder management and communications workstream is responsible for proactively building strong relationships with community leaders / representatives, neighbours, employees / contractors, boards, shareholders, customers, business partners and suppliers, regulators, other energy industry participants, and interest groups to understand their priorities, create relationships of trust and respect as well as sharing necessary project information.