Norton Rose Fulbright has advised Masdar, the Abu Dhabi renewable energy company, and its shareholder Mubadala Development Company PJSC on the project financing of its 20 per cent interest in the first phase of the London Array offshore wind farm project.
Ashurst has advised MODEC, Inc. ("MODEC"), Mitsui & Co., Ltd ("Mitsui"), Marubeni Corporation ("Marubeni") and Mitsui O.S.K. Lines Ltd. ("MOL") on their joint participation (through project company T.E.N. Ghana MV25 B.V.) in a long-term charter of a floating production, storage, and offloading system ("FPSO") to Tullow Ghana Limited for use in the Tweneboa, Enyenra, Ntomme ("TEN") fields offshore Ghana.
In its latest major transaction in support of energy infrastructure in Latin America, Milbank, Tweed, Hadley & McCloy LLP represented Itaú BBA S.A. in providing a $370 million loan for construction of a new multipurpose port facility and terminal in Cartagena Bay, Colombia.
Norton Rose Fulbright has advised a group of banks led by Sumitomo Mitsui Banking Corporation on the financing for Golar LNG of Indonesia’s first LNG floating storage and regasification unit (FRSU).
The FSRU, named Nusantara Regas Satu, was financed through a US$155 million term facility and a US$20 million revolving facility.
Herbert Smith Freehills has advised VTB Capital on a RUB 14 billion concession project related to the construction and operation of the toll-road bridges over the rivers Kama and Bui in the Republic of Udmurtia. The project, which began in May 2013, will see VTB Capital provide a 15-year RUB 5 billion loan to the regional government for the construction.
Global legal practice Norton Rose Fulbright has advised The Siam Commercial Bank Public Company Limited on its financing of ten solar PV projects with an aggregate capacity of 72MW. The ten projects consist of seven 8MW solar power projects, two 6MW solar power projects, and one 4MW solar power project.
The ten projects are owned by Soleq Pte Ltd and Soleq Solar (Thailand) Co., Ltd., which are the investment vehicles of Equis Fund Group. Equis Fund Group is one of the largest energy and infrastructure investors in Asia.
Skadden represented affiliates of SunEdison, Inc., one of the world's leading solar project developers, in a $212.5 million nonrecourse debt financing with the International Finance Corporation, a member of the World Bank Group; and the Overseas Private Investment Corporation, the U.S. government’s development finance institution. The financing closed on September 12, and the debt proceeds will be used to finance the construction of a SunEdison-owned 100MWp solar power plant in the Atacama Desert, Chile.
Trowers & Hamlins has advised the sponsor group comprising Sumitomo Corporation (Japan), Malakoff Corporation Berhad (Malaysia) and Cadagua SA (Spain) on the financial close of Oman's largest independent water project (IWP). The IWP, valued at circa US$300 million, reached financial close on 18 September 2013.
The project will be funded by Japanese financial institutions, led by the Japan Bank for International Cooperation, through a build-own-operate project finance structure.
DLA Piper Weiss-Tessbach advised a consortium of banks under the leadership of UniCredit Bank Austria on the funding of a hydroelectric power station in the Tyrolean valley Stanzertal. A total of 41,5 million Euro in form of an non-recourse loan was provided for the construction project.
International law firm Clifford Chance has advised the European Bank for Reconstruction and Development on a loan of up to EUR 48 million to LLC “Novoazovskiy Wind Park”. The proceeds of the financing will help to develop a 57.5 MW Novoazovsk Wind Farm located in Donetsk region.
This project is one of the first “limited recourse” finance deals in Ukraine. This financing is expected to promote renewable energy in Ukraine, as well as to improve environmental standards in the Ukrainian energy sector overall.