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Energy & Utilities

Eolus divests 60-MW Swedish wind portfolio for EUR 95 million to Swiss electric utility ewz

22 Jan 2015

Eolus Vind AB, one of the leading wind power developers in Sweden, has agreed to sell 29 wind turbines in southwestern Sweden to Swiss electric utility ewz for EUR 95 million. The 60-MW deal is the single largest in the history of Eolus.

Founded in 1990, Eolus has constructed nearly 470 wind turbines of the approximately 3 000 wind turbines operating in Sweden. The Eolus Group currently owns and operates an installed capacity of 88 MW with an estimated annual electricity production of 232 GWh. Eolus shares are listed on Nasdaq First North in Stockholm.

White & Case Advises Metso Corporation on Sale of Process Automation Systems to Valmet Corporation

21 Jan 2015

White & Case LLP is advising Metso Corporation, a leading minerals processing and flow control technology and services supplier for the mining, oil and gas and aggregates industries, on the sale of its Process Automation Systems (PAS) business to Valmet Corporation. The enterprise value of the transaction is €340 million.

Paul Hastings Advises Hanwha Q CELLS in US$1.2 Billion Sale to and Merger with Hanwha SolarOne

21 Jan 2015

Paul Hastings is representing Hanwha Solar Holdings Co., Ltd. (“HSH”) and Hanwha Q CELLS Investment Co., Ltd. (“Q CELLS”), in entering into a definitive share purchase agreement with Hanwha SolarOne Co., Ltd. (“Hanwha SolarOne”) to create a new global leader in solar power. Under the terms of the agreement, Hanwha SolarOne (Nasdaq: HSOL) will acquire Q CELLS and as consideration therefor, issue new shares of Hanwha SolarOne to Q CELLS’s sole shareholder, HSH.

Clifford Chance advises Essel-Clean Solu Hydropower on largest private sector energy project in Nepal

19 Jan 2015

Clifford Chance has advised Essel-Clean Solu Hydropower Private Limited on the $142.5 million financing of a run-of-the-river hydroelectric power plant with a total installed capacity of 82 MW located in Solukhumbu District in the Eastern Development Region in Nepal (the Lower Solu Project). The Lower Solu Project is the largest private sector energy project and the first private financing in Nepal undertaken by both international and domestic lenders.

Ashurst advises Oranje-Nassau Energie B.V. on acquisition of interests in the Sean field from Shell and Esso

14 Jan 2015

Ashurst has advised Oranje-Nassau Energie B.V. ("ONE") on its proposed acquisition of a 50% interest in the Sean field, located in the UK's Southern North Sea, from Shell U.K. Limited and Esso Exploration and Production UK Limited. ONE would also like to seek joint venture approval to take over operatorship of these assets.

Completion of the transaction is subject to approval from the UK regulator and SSE.

Wragge Lawrence Graham & Co advises Primrose Solar on two refinancing deals worth £60 million

13 Jan 2015

The Energy & Infrastructure Finance team at Wragge Lawrence Graham & Co has advised longstanding client Primrose Solar on two inflation-linked financings from a major institutional investor for five solar parks worth £60 million. The developments have an overall energy production capacity of about 80MW.