CMS in London has advised Norwegian renewable energy company Statkraft on its 50:50 partnership deal with RWE Innogy to jointly develop the £3.9bn Triton Knoll Offshore Wind Farm, off the east coast of England
The deal will see Statkraft take a 50% stake in the UK wind farm, which has an expected capacity of up to 900MW, enough electricity to meet the energy needs of up to 800,000 average UK households annually.
TenneT, Statnett and KfW have signed a cooperation agreement regarding the construction of NordLink and thereby made the final investment decision for this interconnector project.
The 623 km long high voltage direct current (HVDC) link with a capacity of 1.400 megawatts shall increase both security and efficiency of supply and support the integration of the European electricity market. It is considered a milestone for the successful implementation of the German Energiewende (“energy turnaround”).
Advised by Watson Farley & Williams (“WFW”), UK anaerobic digestion (AD) plant development company Tamar Energy has secured £32 million in financing for its portfolio of five AD plants. According to Tamar Energy’s chief executive officer Willie Heller, the deal is the first senior non-recourse debt financing for an industrial scale AD facility in the UK.
Clifford Chance has advised State Grid International Development Limited (SGID) on its offering of EUR700 million 1.50% guaranteed notes due 2022 and EUR300 million 2.45% guaranteed notes due 2027 through State Grid Europe Development (2014) Public Limited Company, a wholly-owned special purpose vehicle. The joint global coordinators are Deutsche Bank, HSBC and Morgan Stanley and the other joint lead managers are ANZ, Bank of China, Barclays and the Royal Bank of Scotland. The notes are listed on the Irish Stock Exchange.
Davis Polk advised the underwriters on the registered offering of $400 million aggregate principal amount of 2.650% notes due 2025, $200 million aggregate principal amount of 3.550% notes due 2042 and $150 million aggregate principal amount of floating-rate notes due 2017 by Praxair, Inc. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, RBS Securities Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.
Dentons has advised Total on its successful bid for an interest in the new 40 year Abu Dhabi onshore oil concession, known as the new ADCO onshore concession. The first stakeholder to be awarded a concession interest by the Supreme Petroleum Council of Abu Dhabi, Total receives the maximum available 10% participating interest, effective January 2015. Total was also appointed Asset Leader for the key Bu Hasa and South East assets, which collectively represent approximately two-thirds of ADCO’s production.
Herbert Smith Freehills is advising Vitol, a leading energy and commodities company with a turnover of US$307 billion, on its US$7 billion oil and gas project in Ghana with ENI. The development of the pure gas fields contained in the project has been described by the World Bank as a ‘top priority’ for Ghana, as it will underpin the growth of a domestic thermal power sector and accelerate Ghana’s industrial development.
Burges Salmon has advised Infinis Energy plc on the sale of its hydro portfolio to Dwr Cymru Welsh Water and H20 Power Limited for £20.5 million which completed on 3 February.
A team of Corporate lawyers including partner Camilla Usher-Clark and senior associates Jonathan Eves and Tim Roberts with additional expertise provided by the firm’s Energy, Real Estate and Tax teams acted on the transaction.
White & Case LLP has advised Eni S.p.A. on its eurobond of €1 billion, 1.5 percent notes due 2026 that is being issued under its Euro Medium Term Note Programme and offered to institutional investors.
ENI is a major integrated energy company active in finding, producing, transporting and marketing oil and gas. The settlement is expected to occur on February 2, 2014 and the notes will be listed on the regulated market of the Luxembourg Stock Exchange.
Baker & McKenzie is advising the vendor on the sale of Australia's leading air-conditioning and mechanical services provider, AE Smith, to ASX-listed Spotless.
Partner Richard Lustig led the Baker & McKenzie team, which included associate Eliza McDonald.
Commenting on the transaction, which was announced to the ASX today, Richard Lustig said: "AE Smith was established over 117 years ago and has a rich history in Australia. We are delighted to be assisting our client on this significant transaction".