The UAE offices of international law firm Clyde & Co advise Safar Onshore & Offshore Gas and Oil Field Services Establishment (Safar) on the disposal of 100% of its business to Theodor Wille Intertrade (TWI).
Safar is headquartered in the UAE and provides specialised products and services for the oil & gas and mining industries. It has more than 30 years history in the Middle East and Central Asia regions.
Herbert Smith Freehills has advised Huaneng Power International, Inc. ("Huaneng Power"), one of China's largest listed power producers, on its RMB1.5 billion (US$241 million) Regulation S offering of three-year fixed rate bonds due 2016. The bonds will be listed and traded on the Hong Kong Stock Exchange.
Listed in New York, Hong Kong and Shanghai, Huaneng Power is mainly engaged in developing, constructing, operating and managing large-scale power plants throughout China.
Herbert Smith Freehills has advised China Petroleum & Chemical Corp ("Sinopec Corp.") on the Hong Kong and US aspects of its US$3.1 billion (HK$23.97 billion) private placement of new H-shares. The new shares will be listed on the Hong Kong Stock Exchange ("HKSE") on or about 14 February, 2013. It will be the largest equity transaction in Asia so far this year, and Sinopec Corp.'s first major equity offering since its IPO in 2000.
Ukraine's state controlled oil and gas company, JSC Naftogaz of Ukraine, has signed an English law governed US$ 3.656 billion credit agreement with state owned China Development Bank Corporation to finance various individual projects involving the substitution of natural gas with locally produced coal. The investment programme is intended to help Ukraine increase its energy capacity through the introduction of modern technology, construction of new plants and the upgrading of existing infrastructure.
International legal practice Norton Rose has advised the EU agency, Fusion for Energy, on a contract in excess of €250m for the design and construction of a tokamak reactor hall and associated infrastructure for a fusion reactor complex at the International Thermonuclear Experimental Reactor (ITER) Project in Cadarache, France.
Hogan Lovells advised members of the Shah Deniz Consortium (BP, Statoil, SOCAR, and Total) on an equity option and funding agreement; and the Shah Deniz Consortium on a co-operation agreement, both with Nabucco Gas Pipeline International GMBH (Nabucco) and its existing shareholders (OMV, BOTAS, BEH, Transgaz, RWE and FGSZ).
International law firm Freshfields Bruckhaus Deringer has advised Aqueduct Capital (UK) Limited and its shareholders on the disposal of the Sutton and East Surrey Water Group (the “SESW Group”) to Sumitomo Corporation.
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised IWB (Industrielle Werke Basel) on all relevant legal and tax aspects of the acquisition of a 30 MW wind farm. The financial details of this transaction are confidential.
IWB acquired 15 Vestas V90 wind turbines, each with a capacity of 2 MW, as part of the Große Schanze wind farm in Holleben, Saxony-Anhalt, Germany.
Charles Russell is proud to have advised the Energy Technologies Institute (ETI) on two ground breaking new assignments.
Allen & Overy has advised longstanding client TAQA and Jorf Lasfar Energy Company 5&6 on the project financing for the 700MW expansion of the Jorf Lasfar power plant in Morocco.
Jorf Lasfar is the largest coal-fired power complex in the MENA region and the first independent power producer (IPP) in Morocco. Jorf Lasfar is also the largest power plant in Morocco and already supplies 40% of the country's electricity output.