Paul, Weiss advised French oilfields services giant CGG S.A. in the successful implementation of its financial restructuring plan. CGG announced that the company had equitized nearly all of its unsecured debt, extended the maturities of its secured debt and secured additional liquidity, with debt reduced to $1.2 billion. The implementation marks the completion of a financial restructuring that began more than a year ago and led to a restructuring support agreement that swapped nearly $2 billion in debt for most of the reorganized company’s equity.

High-profile action concerns the overhaul of The Kingdom of Spain's renewable energy regime.

Latham & Watkins has secured a victory for Novenergia II Energy & Environment, (SCA), SICAR, a Luxembourg-based renewables investment fund, in a Stockholm Chamber of Commerce arbitration against the Kingdom of Spain. Novenergia’s claims were brought under the Energy Charter Treaty (ECT), a multilateral treaty that protects investments made in the energy sector. The arbitration was seated in Stockholm.

Slaughter and May, working with Norwegian firm BA-HR, is advising Aker Energy AS on its proposed acquisition of Hess Corporation’s interests in Ghana, consisting of a 50 per cent. participating interest in the Deepwater Tano Cape Three Points (DWT/CTP) block.

On 14 February ESSO and EG Group, a company owned by brothers Mohsin and Zuber Issa, business partner of ESSO in Europe, completed the sale and purchase of the fuel distribution business in Italy, consisting of 1,175 retail branded service stations; the transaction includes a long-term supply and trademark licence agreement for the ESSO fuel brand.

Herbert Smith Freehills has advised Ararat Wind Farm (AWF) on its entry into two innovative corporate power purchase agreements with Flow Power, a Melbourne based electricity retailer.

AWF is a 240MW wind farm located in Victoria and jointly owned by Partners Group and OP Trust. The offtake agreements supplement the existing 80.5MW feed-in tariff offtake agreement entered into by AWF and the ACT Government in 2015.

OP Trust announced on 16 February that it will be acquiring 51% of the shares in Flow Power.

DLA Piper has advised NovaWind, a Rosatom State Atomic Energy Corporation's unit responsible for new energy programmes in Russia, on its joint venture with Dutch turbine developer Lagerwey, to supply 388 turbines to Russian wind farms by 2022.

The joint venture, known as Red Wind, will oversee the marketing, sale and delivery of turn-key wind turbines as well as after-sales support. Red Wind will also lead the localisation program in Russia, contracting and providing qualification to the existing suppliers of NovaWind’s production sites in Volgodonsk.

Herbert Smith Freehills has advised Ararat Wind Farm (AWF) on its entry into two innovative corporate power purchase agreements with Flow Power, a Melbourne based electricity retailer.

AWF is a 240MW wind farm located in Victoria and jointly owned by Partners Group and OP Trust. The offtake agreements supplement the existing 80.5MW feed-in tariff offtake agreement entered into by AWF and the ACT Government in 2015.

OP Trust announced on 16 February that it will be acquiring 51% of the shares in Flow Power.

DLA Piper has advised NovaWind, a Rosatom State Atomic Energy Corporation's unit responsible for new energy programmes in Russia, on its joint venture with Dutch turbine developer Lagerwey, to supply 388 turbines to Russian wind farms by 2022.

The joint venture, known as Red Wind, will oversee the marketing, sale and delivery of turn-key wind turbines as well as after-sales support. Red Wind will also lead the localisation program in Russia, contracting and providing qualification to the existing suppliers of NovaWind’s production sites in Volgodonsk.

The Swiss utility ewz, the public utility company of the City of Zurich, is further expanding its renewable energy portfolio by acquiring the two onshore wind farm projects "Autremencourt" and "Vihiersois" from Hamburg-based Nordex SE.

King & Wood Mallesons (KWM) have advised APA Group (APA) on its entitlement offer (PAITREO) of new APA securities, which was launched today. 
 
The KWM team was led by M&A Partners David Eliakim and Will Heath, supported by Senior Associate Anna Chen, and associates Chloe Johnston and Evelyn Peter.
 
The entitlement offer will be used to assist in the funding of APA’s growth projects and capital expenditure program, the funding of the redemption of APA Subordinated Notes, and for other general corporate purposes.