Herbert Smith Freehills has advised New Energy Solar Limited on its acquisition of the 55.9 MWDC Manildra Solar Farm in New South Wales, for an enterprise value of A$113 million. New Energy Solar has interests in 20 solar projects in the United States but Manildra is its first Australian asset.
TLT has advised Thrive Renewables on a joint venture (JV) with Aura Power to supply medium and large energy users with free battery storage installations in return for revenue share.
TLT has advised Thrive Renewables on a joint venture (JV) with Aura Power to supply medium and large energy users with free battery storage installations in return for revenue share.
A cross-border team of lawyers from Baker McKenzie advised Ellomay Capital on the execution of a power purchase hedge agreement (PPA) for its 300-MWp Talasol solar photovoltaic project in Spain. The 10 year contract is the first of its kind in Spain and was executed with a leading international energy company with a solid investment grade credit rating and a pan-European asset base.
Frankfurt/Main – CMS has again advised Hamburg-based solar plant and wind farm operator Encavis AG on issuing a scrip dividend. This is the fifth time that Encavis has given its shareholders the choice of receiving the dividend in cash or in the form of new shares in the company. This year’s cash dividend was EUR 0.22 per share. The acceptance rate for the scrip dividend was almost 40%.
Shearman & Sterling advised GE on the sale of its Distributed Power business to Advent International (“Advent”), for $3.25 billion. The transaction includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Austria, Canada and the U.S.
Womble Bond Dickinson (WBD) has advised longstanding client Tekmar, an offshore wind company, on admission of its shares to trading on AIM and its £61.8m fundraising from institutional investors.
Tekmar is a market-leading technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services.
International law firm Ince & Co LLP has advised long-standing client Golar LNG Limited on a US$960 million sale and leaseback of their converted FLNG vessel the Hilli Episeyo with CSSC (Hong Kong) Shipping Company Limited.
Golar LNG Limited (“Golar LNG”) is one of the world’s largest independent owners and operators of marine-based LNG midstream infrastructure, active in the liquefaction, transportation and regasification of natural gas. Its shares are listed on NASDAQ (NASDAQ: GLNG).
Allen & Overy LLP has advised Siemens Gamesa Renewable Energy S.A. ("Siemens Gamesa") on concluding a EUR 2.5 billion syndicated loan.
This is the first transaction in the syndicated credit market for Siemens Gamesa.
The syndicated loan replaces a EUR 750 million credit facility dating from 2017 and is to serve general corporate purposes and the refinancing of existing debt. The financing includes a EUR 2 billion revolving credit facility due in 2023 with two extension options of one year each and a EUR 500 million credit facility due in 2021.
Herbert Smith Freehills has advised TransGrid on the refinancing of $4.2 billion of senior bank facilities with a syndicate of Australian and international banks. Financial close was achieved on 7 June 2018.
The refinancing comes after TransGrid’s successful 2016 and 2017 US Private Placements and provides TransGrid with diversification of its maturity profile to facilitate access to capital markets while retaining meaningful exposure to the domestic bank market.