De Brauw has advised Fugro on its initiated auction to sell its trenching cable laying business. Ultimately GMSL came out as the preferred bidder, offering a secured vendor loan and an equity stake.

Other parties involved
Other, JV partner

Nature of transaction
Fugro and Global Marine Holdings LLC have signed an agreement under which GMG will acquire Fugro's trenching and cable laying business in exchange for an equity stake of around 24% in the combined business valued at US$ 65 million, and a one year secured vendor loan of US% 7.5 million.

DLA Piper has advised the Australian Renewable Energy Agency (ARENA) on the Demand Response Competitive Funding Round under its Advancing Renewables Program.

ARENA and the Australian Energy Market Operator (AEMO) this week jointly announced 10 pilot projects in Victoria, South Australia and New South Wales (NSW) have been awarded funding, to manage electricity supply during extreme weather peaks.

The AU$35.7 million initiative will deliver 200 megawatts (MW) of capacity by 2020.

Osborne Clarke has advised leading energy company innogy on its acquisition of Statkraft’s 50 per cent share in the offshore wind project Triton Knoll. With the acquisition of Statkraft’s share, innogy has become the project’s sole owner. Both sides have agreed to maintain confidentiality regarding the purchase price.

Norton Rose Fulbright has advised renewables energy giant Enel Green Power S.p.A. ("EGP"), on the agreements with the Canadian institutional investor Caisse de dépot et placement du Québec ("CDPQ") and the investment vehicle of the leading Mexican pension funds CKD Infraestructura México S.A. de C.V. ("CKD IM") on the sale of 80 percent of the share capital of a newly formed Mexican holding company ("Holdco"). Holdco indirectly owns a portfolio comprising 8 renewable energy projects with a total generating capacity of 1.7 GW.

We advised ElectroRoute on its agreement with Microsoft to provide energy trading services. 

Gilbert + Tobin’s banking + infrastructure and energy + resources teams have advised Cooper Energy on a funding package for its Sole Gas Project, which is set to create the first new source of gas supply that stretches Australia’s east coast market in a number of years.

The team helped Cooper Energy secure flexible terms that enable the company to meet its long-term requirements and advised on the structuring of arrangements with APA Group in connection with APA’s acquisition of the Orbost Gas Processing Plant, where the gas from Sole will be treated.

Merger of equals will create a European Champion in Mobility.

Siemens and Alstom have signed a Memorandum of Understanding to combine Siemens' mobility business including its rail traction drives business, with Alstom. The transaction brings together two innovative players of the railway market with unique customer value and operational potential. The two businesses are largely complementary in terms of activities and geographies. Siemens will receive newly issued shares in the combined company representing 50 percent of Alstom's share capital on a fully diluted basis.

Anesco’s Clayhill solar farm and energy storage facility will generate enough electricity for around 2,500 homes and save 4,452 tonnes of carbon.

Burges Salmon’s energy team advised Anesco on its Clayhill solar farm project. Based near Flitwick in Bedfordshire, Clayhill is the first solar farm in the UK to operate without a government subsidy.

The facility was opened officially by Claire Perry MP, UK Minister for Climate Change & Industry, on 26 September.

EIT lawyers and team-members Bangkok advised Constant Energy Management Services Ltd. (ConstantEnergy), a private renewable energy development company with assets in emerging markets, on the acquisition of equity interests in 17.5 MW of operating ground-mount solar photovoltaic assets in Thailand, together with a team of skilled developers and operators and a pipeline of additional projects under development, from Sonnedix Power Holdings Limited, an European-based solar power developer. The deal closed on September 19, 2017.

Herbert Smith Freehills has advised Origin Energy on the sale of its conventional upstream oil & gas business Lattice Energy to Beach Energy for $1.585 billion. Lattice's assets comprise a portfolio of conventional upstream assets in Australia and New Zealand, including interests in the Otway, BassGas, HBWS, Kupe, Cooper Basin and Perth Basin gas projects.