Herbert Smith Freehills has advised Energy Development Corporation (EDC) on its US$315 million financing of the 150 MW Burgos Wind Farm Project (Burgos).

Burgos is the largest wind farm developed in the Philippines to date and the financing represents not only the first international project financing of a wind farm project in the Philippines to reach financial close but also the first time that the Feed in Tariff (FiT) recently introduced by the Philippines Government has been banked.

A multi-disciplinary team from Burges Salmon, led by Banking partner Rachael Ruane, has advised New Earth Solutions Group Ltd on the refinancing of its 13MW Avonmouth Energy Recovery Facility.

Paul Hastings LLP, represented the banks in financing the acquisition of the equity interests and certain oil and gas properties of PDC Mountaineer, LLC by Mountaineer Keystone Energy, LLC.
 
Citigroup Global Markets, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers and bookrunners, and Citibank, N.A., acted as administrative agent, on the financing. The financing consisted of a $110 million first lien reserve-based revolving facility.
 

A Clifford Chance team led by New York-based partner Zarrar Sehgal has advised AWAS on its first private placement term loan. Proceeds from the US$350 million transaction, which closed October 7, were used to repay the existing debt on ten narrow-body aircraft and for general corporate purposes. This new facility was rated BBB by S&P and will have a 7-year term at a 4.87% coupon.

In addition to Zarrar, the Clifford Chance team advising AWAS included Banking & Finance associates Fiona Henderson, Patrick Reisinger and Olga Miller, and Tax associate Eric Naftel.

White & Case LLP has advised International Finance Corporation (IFC) and a group of other lenders on a series of seven solar power projects in Jordan.

Margaret Cole, White & Case executive partner in the United Arab Emirates, said: "We adopted a unique approach, working with IFC to develop a financing model which was rolled out successfully across seven separate photovoltaic solar power projects. Each project developer benefited from this streamlined approach and the resulting efficiency in implementing the financings."

Clifford Chance has advised sponsors GDF Suez, Nareva and Mitsui on the US$2.6 billion, 18 year financing of a 1,386 MW ultra-supercritical coal-fired independent power project near the port of Safi, Morocco.

The power plant will represent approximately 20% of Morocco's installed capacity and provide substantial employment and development opportunities to the local community. The Moroccan state body, l'Office National de l'Electricité et de l'Eau Potable (ONEE), will be the sole offtaker from the plant under a 30-year power purchase agreement.

Borenius advised Vartinoja I Ky and its sponsors in financing of a wind power park to be constructed in Siikajoki, Finland. The wind park will comprise nine turbines each capable of producing the power of approximately 2,7 MW. The value of the aggregate investment is about 42 million euros.

LähiTapiola (through its wind power fund Tuulitapiola Ky) and TuuliSaimaa Oy are the sponsors of the Vartinoja I Ky fund.

Dubai—Dentons has advised Bank of Tokyo-Mitsubishi UFJ (Malaysia) on an Islamic commodity murabahah facility of US$100 million to the Islamic Corporation for the Development of the Private Sector.

ICD is one of the most influential agencies in the Islamic finance markets and the facility is the first ever financing by BTMU with a multilateral international financial entity.

Global law firm White & Case LLP has advised the Abu Dhabi Water and Electricity Authority (ADWEA) on the successful financial close of the US$1.5 billion Mirfa Independent Water and Power Project.

"This transaction represents the tenth independent water/power project that White & Case has advised on for ADWEA, which began its power sector privatization in 1997," said White & Case partner Michael Watson. "This is another important project for Abu Dhabi and demonstrates the continued success of the ADWEA privatization model."

Simmons & Simmons has advised Nighthawk Energy plc, the AIM listed US focused oil development and production company, on its agreement with Commonwealth Bank of Australia (‘CBA’) for the $100 million US Dollars Reserve Based Lending (‘RBL’) facility, including the restructuring of some of its existing debt.