Herbert Smith Freehills has advised Origin Energy on its agreement to sell the Mortlake Terminal Station to AusNet Transmission, the current operator of the Station, for A$110 million.

The sale of the Mortlake Terminal Station, which connects Origin’s 550MW gas-fired Mortlake Power Station to Victoria’s electricity transmission system, is the first of a series of infrastructure asset sales by Origin Energy as part of an asset divestment program announced in September 2015.

Ashurst has advised AGL on its appointment as the sole and exclusive sales channel partner of Sunverge Energy, Inc (Sunverge), a US-based solar and storage system developer. The exclusive Australian channel arrangements represent an opportunity for AGL to offer its customers a cutting-edge Solar Integration System (SIS) which is designed to effectively and efficiently capture and manage solar power.

In more than five years of litigation, Dr. Lothar Ende and Dr. Sebastian Jungemeyer, both from the business law firm Heuking Kühn Lüer Wojtek’s Hamburg office, successfully represented the German subsidiary of a global company from the oil and gas industry across two court instances (value in dis-pute about EUR 1.8 million).
 

DWF has advised energy solutions provider MEP Werke GmbH (“MEP Group”) in securing German-Dutch Bank NIBC for the financing of its new rental model for solar panels. The innovative business model, which is the first of its kind in Europe and the first structured financing solution concentrating on tenant relations in the German market, will enable homeowners to rent solar models instead of buying them, a decision that reflects a growing interest across Germany in supporting energy-saving solutions.

Norton Rose Fulbright Houston office represented MRC Global Inc., the largest global OCTG distributor based on sales, of pipe, valves and fittings and related products and services to the energy industry, in the sale of its US OCTG business to Sooner Pipe, L.L.C., a subsidiary of Marubeni-Itochu Tubulars America, Inc.

DLA Piper advised Terra Energy Partners LLC, an independent oil and natural gas company headquartered in Houston, in the acquisition of WPX Energy Rocky Mountain, LLC from WPX Energy, Inc., for $910 million. The new land acquired by Terra is located in the Colorado’s Piceance Basin.

Mannnheimer Swartling has assisted Nordisk Vindkraft in the sale of 80% of the shares in Våsberget Vindkraft AB to the French asset manager Mirova.

The wind power park will produce 80GWh of green electricity annually, enough for the consumption of 32,000 Swedish households.

Watson Farley & Williams (“WFW”) has advised Italian energy company Energia Rinnovabile Valtellineses S.r.l (“E.R.V.A.”) on the negotiation and drafting of binding agreements made in preparation for the acquisition of 100% of B.B.E. S.r.l.’s (“B.B.E”) shares from E.T.S. S.p.A. Engineering and Technical Services and Iniziative Energetiche Sostenibili S.r.l.

Slaughter and May advised Centrica plc on a joint sale, with its 50% joint venture partner EIG Global Energy Partners, of the Glens of Foudland, Lynn and Inner Dowsing wind farms (GLID) to a consortium, comprising the UK Green Investment Bank Offshore Wind Fund and funds managed by BlackRock, for an Enterprise Value of £423 million.

Glens of Foudland is an onshore wind farm located in Aberdeenshire and the Lynn and Inner Dowsing offshore wind farms are located off the coast of North East Lincolnshire.

Linklaters has advised the Caruna Group, the largest electricity distribution business in Finland, on the refinancing of its €1.7billion acquisition debt following the acquisition and financing of Fortum Sweden’s electricity distribution assets (owned by a Borealis- led consortium) in June 2015.

The refinancing debt consists of proceeds from a syndicate of banks which lent directly into Caruna, as well as a significant amount of privately placed debt.