On 21 October 2015 Nobelwind secured a EUR 650 million financing for the construction and operation of its offshore wind farm located on the Bligh Bank, approx. 46 km off the Belgian coast. The funding is provided by the European Investment Bank, BNP Paribas Fortis, Rabobank, SMBC, Mizuho Bank, EKF and GIEK.
Ashurst advises ERG Renew S.p.A., a major Italian wind energy operator and one of the leading companies in Europe, on the acquisition of a 206 MW wind portfolio located in France and Germany, owned by Impax Asset Management Limited.
By means of this transaction, ERG Renew S.p.A. will consolidate its position in Europe, achieving a 1.7 GW wind portfolio, and significantly strengthen their position in France, where they have already acquired earlier this year a 63.4 MW wind portfolio, and in Germany.
Herbert Smith Freehills long-standing client EDF has reached a milestone in its project to build a new nuclear power station at Hinkley Point C in the UK. The main conditions to allow the project to go ahead are now in place.
King & Wood Mallesons (KWM) has advised Shandong Offshore Equipment Co., Ltd. (Shandong Offshore) in its successful acquisition of 100% equity interest in Northern Offshore Ltd. (NOF), an Oslo Stock Exchange listed company, with a consideration of approximately NOK 1.3 billion(US$160.58 million). After the acquisition, NOF was delisted from Oslo Stock Exchange.
Clifford Chance is advising EDF on the development of the proposed Hinkley Point C nuclear power station in Somerset, including the recently announced GBP6bn investment by China General Nuclear Power Corporation (CGN) to acquire and finance 33.5% of the GBP 18bn project.
Slaughter and May acted for The Department of Energy & Climate Change (DECC) over an extended period in the negotiations of a contract for difference and support arrangements for the Hinkley Point C nuclear power station, which is expected to be the first nuclear power station to be built in the UK in 20 years. Slaughter and May also acted for The Office for Nuclear Development (OND) on the related Funded Decommissioning Programme for Hinkley Point C.
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Hungary - Dentons has advised GDF SUEZ in the sale of its 99.9% stake in its universal service gas trading company in Hungary, GDF SUEZ Energia Magyarorszag Zrt., to state-owned gas distributor Fogáz Zrt.
We are acting for Sequa Petroleum and its Norwegian subsidiary, Tellus Petroleum, in the acquisition of three licenses on the Norwegian Continental Shelf which represents a 15% stake in the Gina Krog Unit from Total E&P Norge.
Upon completion, the total settlement value is expected to amount to NOK 1.4 billion.
A team led by capital markets law expert Dr. Thorsten Kuthe, partner at the commercial law firm Heuking Kühn Lüer Wojtek’s Cologne office, comprehensively advised 7C Solarparken AG on the acquisition by way of an in-kind capital increase of six photovoltaic plants in Rhineland-Palatinate and Bavaria from a Luxembourg-registered solar fund controlled by a British investor.
SZA Schilling, Zutt & Anschütz advised FUCHS PETROLUB SE on the acquisition of Sweden-based Statoil Fuel & Retail Lubricants AB (SFR Lubricants), Stockholm, from Couche-Tard Luxembourg S.A.R.L., a wholly owned indirect subsidiary of Alimentation Couche-Tard Inc. The transaction was consummated on 1 October 2015. SFR Lubricants is one of the leading lubricant providers in Scandinavia and also operates in Poland, Russia and the Baltic States.