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Energy & Utilities

WFW advises Rame Energy on the acquisition of solar designer and installer Beco

17 Jul 2014

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Rame Energy plc (“Rame”) on the acquisition of the entire share capital of Beco Ltd (“Beco”), one of the United Kingdom’s longest established designers and installers of photovoltaic (PV) energy systems. AIM-listed Rame funded the acquisition through the issue of new ordinary shares.

Pinsent Masons advises Intelligent Energy on IPO

15 Jul 2014

Pinsent Masons has advised Intelligent Energy on its initial public offering (IPO) raising a total of £55 million. The deal, thought to be London's biggest pure technology flotation in five years, values the green power company at $1.1bn (£639 million). Intelligent Energy intends to use the funds raised to pursue international expansion plans.

Corporate partners Rob Hutchings, Louise Wolfson and senior associate James Broadhurst led a Pinsent Masons team advising on the transaction.

Dentons advises Solarwatt on the acquisition of the distribution units of Centrosolar

14 Jul 2014

Dentons has advised Solarwatt GmbH on the acquisition of the distribution units of the Centrosolar brand in Europe. Centrosolar is under insolvency proceedings; its two major European distribution units in France and the Netherlands, however, are not insolvent. Solarwatt now takes them over together with the exclusive usage rights in the Centrosolar brand for the entire European market. This transaction is an opportunity for Solarwatt to extend further its market position in Europe and its portfolio.

Ashurst advises Oranje-Nassau Energie on US$340 million borrowing base facility

10 Jul 2014

Ashurst has advised Oranje-Nassau Energie B.V. ("ONE") on its US$340 million borrowing base facility agreement arranged by ING Bank N.V., ABN AMRO Bank N.V., BNP Paribas, Credit Agricole Corporate & Investment Bank and Commonwealth Bank of Australia.  The new facility will be used to refinance ONE's existing US$225 million facility and provides significant room for ONE to expand its oil and gas upstream business.

ONE has a diversified portfolio of upstream oil and gas assets, including assets in the Dutch and UK North Sea and Gabon.

Eversheds advises Chinese investor on Hinkley Point financing

08 Jul 2014

Eversheds is advising state-owned China National Nuclear Corporation (CNNC) on its investment in the £16bn Hinkley Point C nuclear power station.

The Somerset-based project aims to reduce the UK's reliance on fossil fuels. The development, which is due for completion in the early 2020’s, will comprise two reactors capable of together producing 3,200 MW of energy.

In 2013 developer EDF Group and the UK government agreed on key commercial terms for the project.

WFW advises PNE WIND AG on the sale of two wind farms to Allianz

08 Jul 2014

Watson, Farley & Williams (“WFW”) has advised PNE WIND AG (“PNE”) on the sale of the onshore wind farms Calau II C and D to Allianz.

Located in the federal state of Brandenburg, Germany, the two wind farms have a combined capacity of 30.8 MW. Both are equipped with five Vestas V112 3.0 MW wind turbines with an extraordinarily high hub height of 140 metres. This enables the turbines to make optimum use of the woodland location, producing enough environmentally-friendly energy to power approximately 26,000 four person households.

Trowers & Hamlins advises NEPCO on first-of-its-kind shale oil power project in Jordan

07 Jul 2014

Trowers & Hamlins is advising Jordanian public shareholding company National Electric Power Company (NEPCO) on its joint project with Attarat Power Company (APCO) to develop and operate a ground-breaking, 470 megawatt, oil shale-fired Independent Power Project (IPP) in Jordan.

The project is valued at US$2.5 billion and will see oil shale mined, processed and converted to power on site, making it the first power project of its kind in the world.

Fieldfisher advises President Energy PLC on Acquisition

04 Jul 2014

Fieldfisher has advised President Energy PLC ("President") on a US$17.5 million acquisition of LCH S.A, a Paraguayan company ("LCH").

LCH holds a 5% interest in an oil and gas concession known as the Pirity Block and a potential further right to a 5% interest in another concession known as the Demattei Block, both of which blocks are located in the occidental region of Paraguay and in which President already holds significant interests.

Fieldfisher advises Independent Resources PLC on fundraising

04 Jul 2014

Fieldfisher has advised Independent Resources PLC ("IRG") on a £1.75 million fundraising by way of a firm placing, an open offer and a conditional placing of open offer shares subject to clawback.

IRG is an AIM quoted oil and gas company with a focus on acquiring and developing production and low risk exploration opportunities in the Mediterranean basin. The funds raised will be used principally to advance the work programme of IRG's Ksar Hadada permit, which is located in Tunisia, and to meet the preparation costs of IRG becoming the operator of Ksar Hadada.

Allen & Overy advises the Romanian electricity supplier and distributer Electrica on its successful IPO

04 Jul 2014

Allen & Overy LLP advised the formerly state-owned Romanian electricity supplier and distributer Societatea Comercialy de Distribuyie yi Furnizare a Energiei Electrice "ELECTRICA" S.A. (“Electrica”) on the dual listing and IPO of Electrica on the Bucharest and London stock exchanges.

This is the largest IPO to date in Romania and the first primary offering of shares in Romania involving global depositary receipts (“GDRs”).