Distribution network operators Gasunie Deutschland Transport Services GmbH, GASCADE Gastransport GmbH, Fluxys Deutschland GmbH and ONTRAS Gastransport GmbH have signed a fractional ownership agreement for the EUGAL pipeline project (European Gas Pipeline Link). Gasunie Deutschland, Fluxys Deutschland and ONTRAS will each receive 16.5% of the shares in the project and future pipeline. GASCADE retains a 50.5% share and will continue to act as the lead project manager.

Milbank, Tweed, Hadley & McCloy LLP advised Canada-based integrated energy company Husky Energy on its successful acquisition of Superior Refinery, a 50,000 barrel per day refinery located in Superior, Wisconsin from Calumet Specialty Products Partners, L.P. for US$435 million in cash.

Clifford Chance has advised ENGIE on the sale of its upstream and midstream LNG activities, liquefaction, shipping and international LNG trading, for an aggregate value of US$2.04 billion, including an earn-out of up to US$550 million based on future oil market developments.

Eversheds Sutherland has advised EDF Energy Renewables on selling a majority stake in five of its UK onshore wind farms to Greencoat UK Wind PLC, one of the UK’s largest investors in the resource efficiency and renewable energy market.

Slaughter and May is advising innogy on the merger of Npower with SSE’s domestic retail operations in Great Britain to form a major, independent British retail energy company.  Following completion, innogy will own 34.4 per cent and SSE shareholders will hold 65.6 per cent of the combined retail company, which will be listed on the London Stock Exchange.

The transaction is subject to the approval of the supervisory board of innogy and of SSE’s shareholders, as well as approval by competition and regulatory authorities.

Dentons has advised UK-based Solarcentury, one of the leading international solar farm developers and operators, on its strategic partnership with the German solar and wind park operator, Capital Stage.

Our Italy team advised UK-based clean energy investor Glennmont Partners in the €190 million refinancing of its 245MW Societa Energie Rinnvabili (SER) Italian wind portfolio through a listed bond – a first for the Italian wind sector.

Herbert Smith Freehills has advised Ausgrid on its acquisition of the Active Stream smart metering business from AGL Energy Limited. Active Stream has more than 230,000 digital meters across New South Wales, Queensland and South Australia.

As part of the transaction, the parties will enter into a services agreement under which Active Stream will continue to supply non-exclusive metering services to AGL following completion.

Taylor Wessing advised the Danish company Kaiserwetter Solar Invest ApS on the disposal of a portfolio of solar parks. The portfolio comprises 14 solar plants with a total output of 29.66 megawatts.

The purchaser is an affiliate of Cerberus Capital Management (Cerberus), a global leader in alternative investing.
In connection with the acquisition of the shares in the German and Spanish companies holding and operating the solar park portfolio, Cerberus also purchased a portfolio of loans associated with the companies held by HSH Nordbank AG.

Slaughter and May advised Ørsted (formerly known as DONG Energy) on its disposal of a 50% interest in the 659MW Walney Extension offshore wind farm to a consortium consisting of PKA and PFA, two leading Danish pension funds. It also advised on the terms of certain related financing, construction management, operations and maintenance and power purchase arrangements.