Lawyers from Clifford Chance's Prague office have advised W.A.G. payment solutions, a.s. (“Eurowag”), a leader in cash-free payment systems for passenger and freight carriers and the operator of a chain of express filling stations, on the sale by auction of a minority stake in the company to the global private equity firm TA Associates.
AES Energy Storage has completed a 10-megawatt energy storage system in the Netherlands (Vlissingen), which has now begun operating commercially and serving the Netherlands and European Common Markets. The system comprises tens of thousands of lithium-ion batteries and is used to balance the grid, absorbing energy during times of high electricity generation and feeding it out when it drops. The system can be quickly and cost-effectively scaled to enable integration of greater volumes of intermittent generation like wind and solar.
On 30 December 2015, Engie obtained the partial annulment of the decision rendered on 17 October 2013 by the French Energy Regulatory Commission, relating to the marketing rules regarding transmission capacities at GRTgaz’s North-South link. This annulment, which will have retroactive effects, censors the possibility for large natural gas consumer sites to re-sell capacity they do not need.
Osborne Clarke acted for ENcome in the acquisition of the O&M (Operations & Maintenance) business of ENERQOS.
ENcome Group is an Austrian company operating in various European countries in the field of photovoltaic plants with a specific focus in the sectors of O&M and TAM (Technical Asset Management). In Italy it is present with headquarters in Bolzano. With 100 MW of photovoltaic plants under management and operation in Italy and 450 MW throughout Europe, Encome is one of the main players in the market at European level.
A Heuking team led by Munich-based M&A partner Boris Dürr GmbH advised Solarpark Blautal GmbH on the acquisition of 80 percent of centrotherm photovoltaics AG. The purchase price was not disclosed. In addition to the purchase of the share package, centrotherm photovoltaics AG concluded a financing agreement that secures the company’s funding.
Watson Farley & Williams (“WFW”) has advised long-standing client Vattenfall, one of Europe’s leading electricity generators, on its disposal of a 49% stake in the 150 MW Ormonde offshore wind farm in England to Swedish pension group AMF for £237 million (circa SEK 3 billion). Vattenfall will continue to operate the wind farm as majority shareholder in partnership with AMF.
Ormonde, located off Barrow-in-Furness in Cumbria, has been fully operational since 2012 and receives Renewable Obligation Certificate (ROC) subsidies.
A team from the firm's Energy group has advised IKAV on a portfolio acquisition from ENN Fi.
A team from European law firm Fieldfisher's Energy and Natural Resources group has advised IKAV Global Energy on the acquisition of an Italian photovoltaic portfolio from ENN Fi, an ENN group company.
The rooftop solar installation portfolio consists of five projects, with a total capacity of 1,606 MWp.
The Fieldfisher team was led by corporate partner Daniel Marhewka, who was supported by Zuzana Meinecke, both based in the firm's Munich office.
Slaughter and May advised Attarat Power Company ("APCO") and the project sponsors, Eesti Energia AS and YTL Power International Berhad, on the signing of financing agreements by APCO with Industrial and Commercial Bank of China and Bank of China for up to USD 1.6 billion of senior debt (the "Senior Debt") for the 470 megawatt (net) oil shale fired power station to be constructed at Attarat um Ghudran, Jordan (the "Project"). The Senior Debt facility comprises the entire senior debt requirement for the Project and will be provided as a buyer’s credit supported by export credit in
Herbert Smith Freehills has advised German energy giant E.ON on a landmark oil and gas asset disposal to the FTSE 250 company Premier Oil. The deal was signed and announced on 13 January 2016.
The “Meerwind” offshore wind farm controlled by private equity investor Blackstone has fully refinanced its existing loans by the placement of green bonds in an amount of more than one billion US dollars (approx. 978 million euros). The complex refinancing includes several components and combines various financing instruments from different legal systems, including a U.S. private placement. This marks the first placement of green bonds by an operational offshore wind farm.