Grong Grong Solar Farm
Pegasus Legal advised Grong Grong Solar Farm on its first round of a crowd equity (crowd-sourced funding, CSF) capital raise including the drafting of the Offer Document and relevant corporate documentation in readiness for the raise on the Birchal platform. The raise commenced on 15 June 2022 and closed early after only 8 days having successfully raised the maximum subscription amount.
This crowd equity raise was the first crowd equity raise in Australia for a solar farm under the CSF regime and demonstrated the viability of this pathway for community energy. It is also one of the first (if not “the” first) crowd equity raise for an infrastructure asset showcasing the use of crowd equity to fund distributed energy and infrastructure assets.