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Energy & Utilities

Hill Dickinson advises UKOG on its readmission to AIM as an operating company

07 Aug 2018

Hill Dickinson's corporate team has recently advised AIM-listed client UK Oil & Gas plc (UKOG) on its change from an investment company to an operating company.

UKOG is a British oil and gas company with a portfolio of 8 UK onshore projects. In particular, it has invested primarily in oil and gas assets located in the Weald Basin in southern England where oil and gas drilling has been taking place for well over 100 years.

Norton Rose Fulbright advises Enel Green Power on 3.5bn South African Rand financing for five wind farms

04 Aug 2018

    Approximately €950m in project finance secured for five wind farms.

Global law firm Norton Rose Fulbright has advised Enel, through its subsidiary Enel Green Power RSA (EGP RSA), the Enel Group’s South African renewables company, on the multi-tranche financing facilities for a portfolio of five wind projects in South Africa. The portfolio totals approximately 700MW of capacity at an estimated value of approximately €950 million.

Allen & Overy advises on largest non-government IPO in Australian corporate history

02 Aug 2018

Allen & Overy has acted for Viva Energy Group Limited (Viva Energy) as U.S. and international counsel in relation to its initial public offering on the Australian Securities Exchange.

Viva Energy (ASX: VEA) listed on the ASX on 13 July 2018 and raised approximately AUD$2.6 million at a market capitalisation of $4.8 billion, making it the largest Australian IPO since the privatisation of Medibank in 2014 (which A&O’s U.S. Capital Markets team also advised). Bank of America Merrill Lynch, Deutsche Bank and UBS acted as joint lead managers on the transaction.

Norton Rose Fulbright advises Sonnedix Santa Lucia on €157.8m refinancing of solar PV parks in Italy

02 Aug 2018

Global law firm Norton Rose Fulbright has advised international solar operator, Sonnedix Group, as sponsor, and Sonnedix Santa Lucia, the borrower, on the limited recourse refinancing of a portfolio of 23 photovoltaic parks in Italy. The portfolio has a total installed capacity of 47.3MW.

WFW advises WW on Italian hydroelectric plant financing

01 Aug 2018

Watson Farley & Williams (“WFW“) advised Werdenfelser Wasserkraft GmbH (“WW”) on a €20m+ financing provided by Bayern LB, for the construction of a 10 MW  hydropower plant in the Valle d’Aosta region (Italy).

Munich-based WW specialises in the acquisition, construction operation and support of hydropower plants for the production of renewable energy in Germany and beyond.

Clifford Chance advises on open access optical fiber network project in Rotterdam

01 Aug 2018

Renewable energy financial advisor Green Giraffe was mandated by L2Fiber Rotterdam to raise equity for their open access optical fiber network in Rotterdam. In July 2018 Highland entered into an exclusive agreement to invest in L2Fiber Rotterdam. The company plans to bring optical fiber access to all 295,000 homes in Rotterdam over the next 5 years.

Freshfields advises BP on the US$10.5bn acquisition of BHP Billiton’s onshore US shale assets

30 Jul 2018

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising BP in relation to the English law aspects of its proposed acquisition of BHP Billiton’s onshore shale oil and gas assets in the US.

The acquisition will bring BP extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana.

The transaction, which is valued at US$10.5bn, is subject to regulatory approvals and is anticipated to complete by the end of October 2018.

McDermott Advises Dunkerque LNG on the Disposal of EDF’s Stake to Two Investment Consortia

27 Jul 2018

PARIS – International law firm McDermott Will & Emery advised Dunkerque LNG, the owner and operator of Dunkirk liquefied natural gas (LNG) terminal, on the disposal of EDF’s 65.01% stake in the capital of the company to two investment consortia: the first made up of Fluxys, AXA Investment Managers - Real Assets and Crédit Agricole Assurances, and the second led by IPM Group and Samsung Asset Management. Across prices paid by the two consortia, the average enterprise value for the entire stake amounts to approximately €2.4 billion.

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