Global law firm Clyde & Co has advised New Age (African Global Energy) Limited, a private African-focused oil & gas company, on a US$425 million senior mezzanine loan facility.

The proceeds of the secured loan facility will be used to further expand oil & gas production activities in several regions across Africa and the Middle East. It will also be used to develop new oil and gas fields in New Age's portfolio.

The facility, provided by a consortium of five lenders, was led by EIG Global Energy Partners and the Africa Finance Corporation.

International law firm CMS has advised MOL Plc. (“MOL”), an integrated international oil and gas company, headquartered in Budapest, on a EUR 615m revolving credit facility provided by a group of ten banks.

The Facility refinances the EUR 439m expired part of the EUR 1bn revolving credit facility which expired in June 2016. Due to favourable market conditions and a positive market response to the announced financing, MOL increased the amount of the Facility to EUR 615m.

Our lawyers have assisted Zephyr and Norsk Vind Energi in connection with the sale of wind farm Tellenes in Rogaland. Google will acquire the entire power production to supply its European data centers.

Leading international law firm Clifford Chance has advised China's State Grid International Development Limited on its joint venture with Rosseti OAO, Russia's largest power transmission and distribution company. State Grid is the largest utility company in the world, and has been ranked seventh in the Fortune Global 500 for five consecutive years since 2011.

The deal is in line with China's 'One Belt One Road' initiative, with the joint venture spearheading investment efforts in the construction of electric grid infrastructure and new power capacity in Russia. 

Global law firm Norton Rose Fulbright has advised Crompton Greaves Limited, an Indian-listed multinational company engaged in the design, manufacture and marketing of products related to power generation and distribution, on the conditional sale of its international power business to First Reserve, a US-based global private equity firm, for an enterprise value of €115 million (USD$126 million).

The sale includes assets across Europe, North America and Indonesia, and is expected to complete in early November 2016.

Gowling WLG's Energy team has advised on a £42m project financing of the 49MW solar farm in Hampshire, one of the largest solar projects in the country.

The Eveley Farm solar park is the latest development by Primrose Solar, and will generate enough power to supply the equivalent of 15,000 typical homes and save around 21,500 tonnes of carbon dioxide per year.

Gowling WLG worked with Primrose Solar to secure project financing for the final construction payment from Deutsche Bank, who were advised by Norton Rose Fulbright.

Herbert Smith Freehills has advised on the construction, operation and financing of the second stage of the Hornsdale wind farm, located about 200km north of Adelaide in South Australia.

This follows on from the successful achievement of financial close and the commencement of construction of the 100MW first stage of the windfarm on which the firm also advised in 2014.  

Baker & McKenzie has advised Neoen, a leading French renewable energy company, on securing a long-term debt financing package for the second stage -  100MW of its Hornsdale Wind Farm project near Jamestown in South Australia.

Baker & McKenzie lead partner, Paul Curnow stated: “The financing of this second stage of the project is very encouraging.The Hornsdale Wind farm has been twice awarded a 20-year contract to supply green energy to the ACT, with the second stage achieving a record low price of $77 per MWh."

International law firm Simmons & Simmons has announced that it will be supporting the Terrawatt Initiative (TWI), on a pro bono basis, working in conjunction with the International Renewable Energy Agency (IRENA). The firm will be working alongside other legal consultants to develop a standardised set of project agreements for the development of solar projects worldwide

Statkraft Ventures GmbH led a Series-A financing round with participation of VNT Management and One Creation. In this round the Swiss start-up DEPsys raised CHF 3 million in total.
Statkraft Ventures GmbH regularly invests in promising start-ups in the energy sector. DEPsys’ smart grid solutions monitors and controls the network in real-time to stabilize the system, secure the supply and optimize the energy flow using intelligent algorithms.