Norton Rose Fulbright has assisted the Austrian renewable energy producer RP Global on a 15 Million Euros convertible bond facility to finance the construction of its portfolio of onshore wind and hydro projects in Europe.

The facility has been subscribed by Paris-based renewable energy fund Mirova-Eurofideme 3, a fund managed by Mirova, Natixis Asset Management’s subsidiary for responsible investment.

Shearman & Sterling advised the Supreme Petroleum Council (the “SPC”) and Abu Dhabi National Oil Company (“ADNOC”) on the grant of a 5% interest in the new 40-year onshore oil concession in the Emirate of Abu Dhabi to JODCO Onshore Limited, a subsidiary of Japan’s INPEX Corporation, the second oil and gas company to be granted rights in the new Abu Dhabi onshore concession.

Dentons advised ERG Renew, the largest Italian wind energy operator and one of the leading wind companies in Europe, on the acquisition of two wind parks in Poland. We advised ERG Renew on a €39 million acquisition of a 100 percent equity interest in a Polish SPV developing the wind project in Slupia municipality in Central Poland with a planned capacity of 24 MW, from PAI Polish Alternative Investments RES Sp. z o.o. The project is expected to be completed at the end of 2015, and the wind park will annually generate more than 62 GWh of electricity.

A team of HFW finance lawyers, led by Partner Tien Tai, has advised Topaz Energy and Marine on a US$550m loan facility to refinance existing debt and to fund new projects, including the acquisition of new vessels and related businesses.

The Gulf region group Abdul Latif Jameel Energy and Environmental Services (“Abdul Latif”) has entered an agreement to acquire Fotowatio Renewable Ventures (FRV), a Spanish solar energy company.

This is the first major sale of a Spanish group in the solar energy sector and the second in the renewable energy sector, since the reform of the Spanish energy sector in 2014.

Abdul Latif will buy Fotowatio’s shares from (i) Denham Capital; (ii) Qualitas Venture Capital funds, of the Timón group; and (iii) the founding shareholders.

Bech-Bruun assists Vattenfall in its sale of the CHP plants Fynsvaerket and Odense Kraftvarmevaerk A/S to Fjernvarme Fyn. On 1 April 2015, closing of the transaction took place whereby Fjernvarme Fyn took over the CHP plants Fynsvaerket and Odense Kraftvarmevaerk A/S.

The transfer agreement was signed already in December 2014, but closing of the transaction has been subject to several conditions being fulfilled, including Fjernvarme Fyn being granted a production licence by the Danish Energy Agency and the merger being approved by the Danish competition authorities.

The international law firm BEITEN BURKHARDT has advised Hellenstein SolarWind GmbH, a subsidiary of Stadtwerke Heidenheim AG enterprise group, on the acquisition of another wind farm of eno energy GmbH. The parties have agreed not to disclose the transaction volume.

Global law firm White & Case LLP has advised Suez Environnement on the issue of €500 million perpetual subordinated bonds. The bonds, which were issued on March 30, 2015 and are listed on the regulated market of Euronext Paris, have a first repayment option after seven years and pay an annual coupon of 2.5 percent until this date, resettable every five years after the first call date. They will rank junior to all senior debt and, in accordance with IFRS, be accounted as 100 percent equity, and as 50 percent equity by ratings agency Moody's.

United Arab Emirates—Dentons has advised the Sharqiyah Desalination Company SAOG (SDC) on the expansion and refinancing of the Sur desalination project in Oman.  Dentons acted as both international and Omani law counsel. The project cost will be approximately US$200 million and will add an additional 10.6 million imperial gallons per day capacity to the existing plant. The project is a unique world-class solution for Sharqiyah region, which is growing in economic importance and population.
 

On April 9, 2015 an ICSID - UNCITRAL tribunal issued a unanimous award on damages in favor of our clients, GDF Suez, Vivendi, Aguas de Barcelona and AWG, in a long-running dispute related to its water and wastewater concession in Argentina. The US$405 million award is the largest award issued by an ICSID tribunal against the Argentine government to date.