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Energy & Utilities

Herbert Smith Freehills advises China's ENN on billion-dollar acquisition of US LNG supply

09 Nov 2018

Leading global law firm Herbert Smith Freehills has advised China energy major ENN on its first acquisition in the United States' liquefied natural gas (LNG) market.

ENN has acquired the rights to a 20-year liquefaction tolling agreement with Texas-based Freeport LNG from Japan's Toshiba Corporation. The contract guarantees access to around 2.2 million tonnes of US LNG each year.

The transaction is also the first investment by a private Chinese company in the US LNG market and is subject to regulatory approvals.

Gowling WLG advises client Brockwell Energy, Hargreaves Services' Renewable Energy Division, upon its disposal

08 Nov 2018

Gowling WLG's Energy team advised in the dynamic subsidy-free renewable energy market, supporting client Brockwell Energy, Hargreaves Services' renewable energy division, upon its disposal.

Hargreaves Services PLC, a diversified group delivering services to the industrial and property sectors, sold Brockwell Energy Limited, the holding company for its interests in the renewable energy sector, to Lantern Bidco Limited, a newly incorporated company backed by international investors experienced in UK energy infrastructure.

WFW advises K.R.Energy on hydropower plant sale

07 Nov 2018

Watson Farley & Williams (“WFW“) advised Italian renewable energy holding company K.R.Energy S.p.A. (“K.R. Energy”)  on the preliminary agreement for its sale of  Idroelettrica Tosco Emiliana S.r.l. (“ITE”) to Energy Opportunity S.r.l.

ITE owns the Lucchio hydropower plant in the central Italian region of Tuscany as well as the Saltino site in Emilia-Romagna in the north east.

Norton Rose Fulbright advises Tenaga Nasional Berhad on US$750m sukuk issuance

02 Nov 2018

Global law firm Norton Rose Fulbright has advised Tenaga Nasional Berhad (“TNB”), Malaysia’s largest electricity utility company, on a ten-year US$750 million sukuk issuance, which closed on November 1, 2018. The sukuk was issued via TNB’s wholly-owned Malaysian-incorporated special purpose company, TNB Global Ventures Capital Berhad.

Baker McKenzie has advised EDF in the framework of the disposal of its interest in the share capital of the methane terminal of Dunkirk

01 Nov 2018

EDF has completed the disposal of its 65.01% stake in the capital of Dunkerque LNG, the owner and operator of the Dunkirk methane terminal, to two investment consortia: the first being made up of Fluxys, AXA Investment Managers – Real Assets and Crédit Agricole Assurances, the second led by IPM Group and Samsung Asset Management. For this transaction, EDF was advised by Baker McKenzie.

Through the price paid by the two consortia, the average enterprise value for the entire stake in Dunkerque LNG, for all these operations, amounts to €2.4 billion.

Client News: Hunton Andrews Kurth Assists Impact Electrons Siam Co., Ltd. in Joint Venture Arrangements to Raise Additional Capital for Solar Project Developments in Thailand

01 Nov 2018

Hunton Andrews Kurth (Thailand) Limited represented Impact Electrons Siam Company Limited (IES), an innovative energy company, which together with its affiliated companies, is developing more than 600 MW of renewable energy projects in Thailand, Lao PDR and Japan, in joint venture arrangements with a group of new investors from the Saha Group, a Thai conglomerate, to raise additional equity capital for Impact Solar Company Limited (ISL).

Herbert Smith Freehills’ renewables experts advise ARENA on Australia’s first utility scale energy from waste facility

01 Nov 2018

Herbert Smith Freehills has advised the Australian Renewable Energy Agency (ARENA) in relation to its $23 million grant funding of the Kwinana Waste to Energy Project, located in the Kwinana Industrial Area, 40km south of Perth, Western Australia.

Clifford Chance advises China Southern Power Grid on acquisition of stake in Encevo, a leading utility company in Luxembourg

31 Oct 2018

Leading international law firm Clifford Chance has advised China Southern Power Grid International (HK) Co., Ltd., the wholly owned investment platform of China Southern Power Grid Co., Ltd. (CSG), on its acquisition of 24.92% stake in Encevo S.A., a leading energy utility company based in Luxembourg, from Ardian, a European based private equity investment house.

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