Norton Rose Fulbright has advised Enertronica S.p.A., an Italian listed company active in the energy sector in Italy and around the world, on the acquisition of 70 per cent of the corporate capital of Sertum Energy Namibia (Proprietary) Limited (Sertum Namibia). Sertum Namibia owns the rights to build, connect and operate a 6 MWp solar plant at Trekkopje, Erongo Region, in Namibia.
Clifford Chance advised Dhuruma Electricity Company, whose sponsors are ENGIE, Saudi Electricity Company, Sojitz Corporation and Al Jomaih Holding Company, on the refinancing of facilities in excess of US$1 billion, which reached financial close on 1 March 2016.
The refinancing facilities were provided on a combined conventional and Islamic basis, with the two classes of financiers sharing the transaction security package.
Clifford Chance advised EDF on the merger control aspects of its strategic partnership with China General Nuclear in relation to new nuclear projects in the UK. The strategic partnership was announced by UK Prime Minister David Cameron and Chinese President Xi Jinping in October 2015, and the European Commission issued a decision approving the strategic partnership in March 2016.
Clifford Chance also advised EDF on securing European Commission state aid approval for the Hinkley Point C power plant.
An energy sector project that Burges Salmon's Energy team advised on has won European Biomass Deal of the Year at the IJGlobal Awards 2015.
Energy sector experts from the firm advised Estover Energy Limited and Cramlington Renewable Energy Developments Limited (CREDL) on the development of a new biomass Combined Heat and Power (CHP) plant adjacent to the Aesica Pharmaceuticals Limited site in Cramlington, Northumberland.
A cross-border King & Wood Mallesons team has successfully assisted China General Nuclear (CGN) in obtaining EU merger clearance for its nuclear joint venture with French energy company EDF.
The joint venture plans to construct and operate the first new-build nuclear power stations in the UK for a generation at Hinkley C in Somerset.
Herbert Smith Freehills has advised Horizon Power on its innovative deployment of standalone power systems to households in the bush-fire affected town of Esperance, located on Western Australia’s southeast coast.
The systems will allow households to live “off-grid”, relying on electricity generated by solar panels and stored in lithium-ion batteries. The systems are backed up by diesel generators to cater for extended periods of low sunlight.
Ashurst advised Khaled Juffali Energy and Utilities, a Saudi Arabian power company which specialises in developing reliable power generation through conventional and renewable energy resources, on its acquisition of a 38.1% stake in Omani utility United Power Company SAOG (Manah IPP) from MENA Infrastructure Fund LP.
Utilities partner David Charlier led the Ashurst team, assisted by counsel Chris Young leading the transaction and Mhairi Main Garcia.
OK ekonomisk förening is owned by approximately 900 000 members in Sweden. The association, founded in 1926, owns 50% of the fuel company OKQ8 AB and has got an annual turnover of approximately SEK 9.5 billon (not counting OKQ8). Other operations within the OK-group are real property ownership and management, pellets manufacturing, publishing, car dealership and IT consultancy.
Nabarro has advised AIM-listed Hydrodec Group plc, on the disposal of its UK waste oil collections business and proposed UK lubricant re-refining project.
Following a strategic review of the business and auction process for the UK operations, a number of indicative offers were received. After a period of exclusivity with one bidder, Hydrodec elected to conclude the sale with one of its non-executive directors in a related party transaction under the AIM Rules.
Herbert Smith Freehills has advised MIE Holdings Corporation on the disposal of 60% of its indirectly wholly-owned subsidiary, Palaeontol B.V., to Reach Energy Berhad for US$154,889,000.
Palaeontol B.V. indirectly holds oil and gas assets in southwest Kazakhstan, including four existing oil and gas producing fields as well as one exploration area.
The share sale and purchase agreement was signed on 5 March and the transaction is expected to complete later this year.