Herbert Smith Freehills has advised Ararat Wind Farm Pty Ltd and related entities on the debt financing for the Ararat Wind Farm in Ararat, Victoria.
Clean Energy Finance Corporation, Export Development Canada and Sumitomo Mitsui Banking Corporation participated as lenders in the debt financing, which consists of a $200 million debt financing package along with an additional $76 million in bank guarantees.
Norton Rose Fulbright has advised Lekoil Limited (Lekoil), the AIM-listed oil and gas exploration and development company with a focus on Nigeria and West Africa, in relation to the acquisition of, Ashbert Oil and Gas Limited, the licencee of OPL 325, (located to the south of OPL 310 in the Dahomey Basin) offshore Nigeria, for an initial consideration of US$16.08 million, with additional payments totalling US$24.12 million due at developmental milestones (the OPL 325 acquisition).
London – The Meter Fit 5 Project, a £1 billion financing for the UK government mandated smart meter mass roll-out programme, reached financial close on 2 December 2015. The deal will finance seven million smart meters to be installed in UK homes during the period 2016 to the end of 2020.
On behalf of our client East Mediterranean Gas (EMG), Freshfields announces the release on December 4, 2015 of an award in EMG’s favor against the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) in an arbitration brought under the ICC rules and seated in Geneva.
The Vitol Group and Sargeant Marine today announced that Vitol will be acquiring a 50 percent interest in Sargeant Marine. On completion, it is anticipated that the new, combined business will trade circa 1.3 million metric tons of asphalt per annum, with hubs in Florida, London and Singapore, and operate a fleet of thirteen specialist vessels.
The Vitol Group is the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity,
The Executive Board of RWE AG has resolved on the pooling of the renewable energy, grids and retail business areas in Germany and abroad in a new subsidiary and the placement of approximately 10% of the new subsidiary by way of an initial public offering in connection with a capital increase which is expected to take place at the end of 2016. At the same or later point in time, additional stakes may be disposed. By transferring these business areas to the new subsidiary, RWE AG will create new financing and additional growth opportunities for the activities pooled in the subsidiary.
Herbert Smith Freehills has advised NSW Electricity Networks (a consortium comprising Caisse de dépôt et placement du Québec, Hastings (as manager of Utilities Trust of Australia), Tawreed Investments Limited, Wren House Infrastructure and Spark Infrastructure Group) on its A$10.258 billion acquisition of the TransGrid high voltage electricity transmission network from the New South Wales Government.
The acquisition was financed with a A$5.5 billion limited recourse financing package provided by a syndicate of 12 domestic and international lenders.
Ashurst is advising Rockhopper Exploration plc on its proposed £57 million merger with Falkland Oil & Gas Limited (FOGL).
The all-share offer, which is recommended by the directors of both companies, will be effected by means of a Falkland Islands scheme of arrangement. When the merger becomes effective, the current shareholders of Rockhopper will own approximately 65% of the enlarged group and FOGL shareholders will own approximately 35%.
King & Wood Mallesons has advised Huaneng Power International, Inc. (Huaneng Power, A-shares Stock Code: 600011, H-shares Stock Code: 0902) on its successful placement of 780 million new H-shares to ten shareholders under the general mandate. With a placement price of HK$7.32 per share, Huaneng Power raised approximately HK$5.71 billion (net amount is around HK$5,690 million). It is the largest new share placement in the Hong Kong capital markets since the market adjustments in July 2015.
Herbert Smith Freehills has advised CGN of China on its proposed US$2.3 billion acquisition of the energy assets of Edra Global Energy Berhad.
The assets include interests in 13 power plants in Malaysia, Bangladesh, Egypt, Pakistan and the United Arab Emirates.
The signing of the transaction was formally announced on 23 November after a bid process during recent months.