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.
Stuttgart – Fluxys, a Belgium-based gas infrastructure group, and the Russian natural gas group NOVATEK have agreed to create a joint venture for the design, construction, financing, operation and maintenance of a planned Liquefied Natural Gas (LNG) storage terminal in the seaport of Rostock. The terminal will serve the purpose of storage and transhipment of LNG. For this purpose, natural gas is planned to be converted into LNG in a liquefaction terminal near Saint Petersburg and shipped to Rostock.
Watson Farley & Williams (“WFW”) advised Aban Singapore Pte. Ltd (“Aban Singapore”), a wholly owned subsidiary of India’s Aban Offshore Ltd (“Aban Offshore”), on its acquisition, via its wholly-owned subsidiary Caldera Petroleum, of a 100% interest in two oil and gas blocks in the UK North Sea for a non-cash consideration of US$75m.
The two blocks, 15/13a and 15/13b are both within licence P198, 155 miles north-east of Aberdeen and believed to contain reserves of 60m barrels.
Melbourne – Global law firm K&L Gates has advised Belectric Australia Pty Ltd (Belectric), a subsidiary of German energy company innogy SE, in its appointment of Downer Group (Downer) to construct Limondale Solar Farm in southern New South Wales.
When fully operational, the 349MW solar farm is set to be Australia's largest, generating enough renewable energy to power up to 105,000 homes annually. Construction is due to begin in October and is anticipated to be completed in 2020.
Linklaters has advised the Greenko Group, one of India’s leading renewable energy companies, on its acquisition of Orange Renewable Holding Pte Ltd from Singapore based AT Capital Group. The Orange Renewables group comprises approx. 750MW of operating solar and wind assets across India with another 250MW of near operational assets. The transaction represents one of the largest portfolio acquisitions of Indian renewable assets to date.
The Linklaters team was led by Corporate M&A partner Parthiv Rishi and assisted by associates Tom Gillespie and Robert Ferag.
Herbert Smith Freehills has acted for Pacific Hydro on the A$115 million project financing for Haughton Solar Farm (Stage 1) in Queensland. The financiers to the project financing were the Industrial and Commercial Bank of China, the National Australia Bank and Westpac Banking Corporation.
The firm's Corporate team has advised longstanding client Phillips 66 on its acquisition of UK company NJB Services, which owns five petrol forecourts in the North of England.
Burges Salmon’s Corporate team has advised Houston-based energy manufacturing and logistics company Phillips 66 Limited on its acquisition of NJB Services Limited, a UK company with interests in five fuel filling sites in the North of England.
Cleary Gottlieb represented Enel Group (Enel) in amending the agreements with the Czech energy group Energeticky a Prumyslovy Holding (EPH) concerning Slovenske Elektrarne, a leading operator in the Slovak electricity generation market whose shared capital is held by Enel, EPH, and the Slovak government.
On 15 October 2018, advised by King & Wood Mallesons (“KWM”), Huaneng Power International, Inc. (“HPI”, NYSE: HNP; HKEx: 902; SSE: 600011) completed its non-public issuance of 498 million A-shares to seven specified investors, i.e., PICC Asset Management Company Limited, Shanghai Electric Group Co., Ltd., China Energy Engineering Corporation Limited, Harbin Electric Company Limited, JT Asset Management Co., Ltd., Dongfang Electric Co., Ltd. and Shaanxi Coal and Chemical Industry Group Co., Ltd.
Watson Farley & Williams (“WFW”) advised Tages Helios and Delos Power Group on the corporate reorganisation and refinancing of a solar portfolio owned by Sicilia Solare S.r.l., an SPV of Delos Power S.r.l. The solar plants are located in Sicily (Italy).
The financing was provided by BPER Banca S.p.A. a commercial bank, which is the parent entity of the BPER Group, one of Italy’s leading banking groups.