Shearman & Sterling advised Masdar, a global leader in renewable energy and sustainable urban development headquartered in Abu Dhabi, on the acquisition of 49% of Krnovo Green Energy from a subsidiary of Akuo Energy.

The target is the project company of the Krnovo 72 MV Wind Farm project in Montenegro. This is Montenegro's first wind energy project.

The Shearman & Sterling team included consultant Anna Duncan; and trainees Arthur Morris and Jordan Amsellem-Vigano.

The Team

    Iain Elder

In a significant vote of confidence for the Irish offshore wind industry, Parkwind and ESB have agreed to co-develop the proposed 330MW Oriel offshore wind project and the proposed 500MW Clogherhead project, each to be located off the north east coast of Ireland. Partners John Dallas and Richard Grey advised Parkwind on the transaction.

Baker McKenzie acted as lead legal advisor to SK E&S, a member of SK Group specializing in gas and power business, in connection with its sale of 49% stake out of its wholly-owned Paju Energy Service Co., Ltd, which owns one of the largest merchant LNG power plants in Korea, to Gen Plus B.V. a wholly owned subsidiary of Electricity Generating Plc of Thailand (EGCO). The deal was valued at approximately KRW 897 billion (approx. USD 800 million) and used the locked-box mechanism.

DLA Piper has advised Irish renewable energy investment firm NTR on its acquisition of a portfolio of just over 200MW of operational and pre-construction onshore wind projects in Sweden and Finland.

NTR acquired the portfolio projects, called Vindin, from a consortium of nine Swedish industrial companies through its NTR Renewable Energy Income Fund II. The total capital investment, including the build-out of the development cluster, is expected to be in excess of €180 million.

A cross-border team from Baker McKenzie recently advised the Singapore arm of the global solar firm REC on the SGD 585 million sale and leaseback of its 25-hectare industrial site in the Tuas South region of Singapore to Australia-based Logos Property. The site accommodates an integrated industrial and warehouse facility with a total gross floor area of 1.6 million square feet. The transaction is said to be the largest single-asset industrial deal completed in Singapore in 2018.

Wikborg Rein would like to congratulate Stadtwerke München GmbH (SWM) with its landmark 1,5 GWh wind power transaction in Trøndelag. Wikborg Rein has assisted SWM with its acquisition of 70 % of the shares in Midgard Vind Holding AS, a company owning four existing and four new wind power projects previously owned by TrønderEnergi Kraft AS, NTE Energi AS and Sarepta Energi AS. TrønderEnergi will own 30 % of Midgard Vind Holding AS. We would also like to congratulate TrønderEnergi, NTE and others involved with the transaction.

International law firm Ashurst advised leading Australian renewable energy company Edify Energy on the development and debt financing of its newest project, the Darlington Point Solar Farm near Darlington Point, NSW.

Construction of the 333MWDC (275MWAC) Darlington Point Solar Farm will commence shortly. Once operational it will generate 685,000 MWh of renewable energy each year – enough to power around 115,000 homes. Generation is expected to start in early 2020.

Global law firm Dentons has advised Eurus Energy Group, a leading Japanese renewable energy company, on the acquisition of six operational wind farms in the Netherlands with a combined capacity of 32.18 MW from YARD ENERGY Group, a Dutch-based developer of wind energy projects.

Watson Farley & Williams (“WFW”) advised Danish investment firm Nordic Solar Energy A/S on the acquisition of a photovoltaic portfolio with total capacity of 14 MW from Sella Investment.

The portfolio comprises 14 rooftop and ground mounted PV plants in the Italian provinces of Pordenone, Genova, Siena, Latina, Roma and Teramo.