Orrick’s team in Paris advised ENEO, Cameroon’s main producer and exclusive distributor of energy, on the conclusion of the third amendment to its concession contract.
A Squire Patton Boggs team, led by Washington DC partner Kevin Levey, advised First Solar, a leading global provider of comprehensive photovoltaic (PV) solar systems, on the sale of two separate solar power plants, located in Georgia and California, respectively.
Panoro Energy ASA relied on the expertise of Wolf Theiss on the acquisition of OMV’s 100% owned subsidiary Tunisia Upstream GmbH. The signing took place on 7 November 2018. The agreed purchase price amounts to USD 65 mn.
Gilbert + Tobin (G+T) has advised Tilt Renewables Limited (Tilt Renewables) on the financing of the Dundonnell Wind Farm in Victoria, a project worth A$560 million. This is the first project to reach financial close under a Victorian Renewable Energy Auction Scheme VRET Support Agreement.
Leading global law firm Herbert Smith Freehills has advised EDF, one of the world’s leading electricity companies, IFC (International Finance Corporation), a member of the World Bank Group, and the Republic of Cameroon (as investor) on the final agreements, including the financing, for the construction, operation and maintenance of the Nachtigal hydropower plant.
Farabi Yanbu Petrochemicals Company (FYPC), a subsidiary of Farabi Petrochemicals Company (FPC), has signed a 2.15bn riyals Islamic financing agreement for the construction of a new petrochemicals complex on the Red Sea coast in Yanbu, Saudi Arabia. This follows the signing of a 1.2bn riyals loan agreement between FYPC and the Saudi Industrial Development Fund in October 2018.
Orrick Advises ENEO on Development of Largest Power Generation Project in Africa, Worth €1.2 Billion
White & Case Advises ESCO on Australian Solar Farm
Global law firm White & Case LLP has advised ESCO Pacific (ESCO) on the development, equity sale and $A250 million project financing of the Finley Solar Farm, a 175 MW facility to be constructed near Finley in New South Wales, Australia.
Global law firm Herbert Smith Freehills has advised Red Eléctrica Corporación on the world's first syndicated loan using blockchain technology. The €150 million loan was engaged from three banks: BBVA, BNP Paribas and MUFG. Negotiations were conducted quickly over the platform developed by BBVA based on DLT (Distributed Ledger Technology).
International law firm Ashurst is advising OMV on its agreement to establish a joint venture with Malaysia-based major independent oil and gas company, Sapura Energy Berhad.
Under the agreements, OMV Exploration & Production will pay US$540 million for a 50% stake of the issued share capital in a newly-formed company, SEB Upstream Sdn Bhd. This is based on a total enterprise value of up to $1.6 billion which comprises an equity value of up to US$1,250 million and debt of US$350 million.