Herbert Smith Freehills Kramer advises Wollemi Capital on its establishment of a new Rest-backed investment vehicle and expanded investment in Wollemi Energy Group

Herbert Smith Freehills Kramer (HSF Kramer) is pleased to have advised Wollemi Capital on both its establishment of a new A$250 million investment vehicle, backed by superannuation fund Rest, and its expanded commitment to a total of A$100 million in Wollemi Energy Group.

Wollemi Energy Group is the holding entity of the formerly ASX-listed MPower business, a specialist developer, owner and operator of mid-scale solar, battery storage and microgrid systems which HSF Kramer assisted Wollemi Capital to acquire in 2025. This renewed investment allows Wollemi Energy Group to continue to support and build on a strong pipeline of solar, battery and renewable energy projects across Australia.

This transaction involved the structuring and establishment of the second standalone investment vehicle established by Wollemi Capital with HSF Kramer’s assistance to support its own balance sheet investments.

This transaction marks a continuation of HSF Kramer’s longstanding relationship with Wollemi Capital. HSF Kramer has advised Wollemi since its inception, including in relation to Wollemi’s:

• ~A$220m Series A capital raising in 2023, and subsequent Series B capital raising;
• prior commitment from Rest Superannuation for ~A$230 million;
• strategic alliances, including with Commonwealth Bank of Australia;
• acquisition of substantially all of the business and assets of ASX-listed MPower Group Limited; and
• investment in Kalfresh, alongside QIC.

The HSF Kramer corporate deal team was led by Partner Jason Jordan and Senior Associate Jack McDonell. They were supported by corporate Senior Associate James Newton and Solicitor Belinda Reilly, alongside Competition Partner Jared Peut and Executive Counsel John Yiannakou, and Funds Partner Benjamin Lohr and Senior Associate Rhys Ryan.

Jason Jordan and Jack McDonell said, “We are proud to continue our longstanding partnership with Wollemi Capital by supporting its expanded investment in Wollemi Energy Group. Having advised Wollemi since its inception, it is particularly rewarding to help the team take another meaningful step in continuing to grow both its own and the MPower business following acquisition.”

Paul Hunyor, Co-Founder and Co-CEO of Wollemi Capital said, “This transaction strengthens Wollemi’s position as a long-term investor in scalable, distributed renewable energy infrastructure and sets MPower up for its next phase of growth. We’re grateful for HSF Kramer’s trusted counsel as we continue to grow Wollemi’s business in Australia, the Americas and now Europe.”