Watson, Farley & Williams has advised IKAV Global Energy S.à r.l. (“IKAV”) on all relevant legal and tax aspects in regards to the acquisition of “QCII Basilicata S.r.l.“ from the insolvency administrator of Global PVQ SE (formerly Q-Cells SE).
Global legal practice Norton Rose Fulbright has advised the renewable energy investment branch of Swisspower AG on the acquisition of 100% of the shares held by Spanish Acciona Energia Internacional S.A. in a German onshore wind park portfolio.
Norton Rose Fulbright, Hong Kong, advised TIPTOP Energy Limited (TIPTOP) and Sinopec Century Bright Capital Investment Limited (Century Bright) on a US$3.5 billion five-year syndicated term loan facility. The loan was guaranteed by China Petrochemical Corporation (Sinopec Group).
TIPTOP is an asset holding company and the major upstream investment arm of Sinopec Group. TIPTOP is wholly-owned by Sinopec International Petroleum Exploration and Production Corporation, which is the wholly-owned sole offshore upstream investment platform of Sinopec Group.
DLA Piper is pleased to announce that it has served as sole international counsel on the US$1.1 billion offering by Power Grid Corporation of India, the largest power transmission company in India. The deal was led by Citibank, UBS, ICICI, Kotak Mahindra and SBI Capital as underwriters and global coordinators for the offering.
Baker & McKenzie represented the Hungarian energy company, MOL, in its successful challenge of a Commission decision alleging that MOL had received illegal state aid to the tune of HUF30.386 billion (approximately EUR103 million at today's exchange rate). The annulment of the Commission's decision fully vindicates MOL and entitles it to a full refund plus interest.
Baker & McKenzie fielded a Brussels-based team composed of partner Fiona Carlin, counsel Nina Niejahr and associates Melissa Healy and Christiaan van der Meer.
Weil advised Apache Corporation in completing the sale of a one-third minority participation in its Egypt oil and gas business to Sinopec International Petroleum Exploration and Production Corporation. After customary closing adjustments, Apache received $2.95 billion in cash. The Weil M&A team included partners Glenn West, Steven Xiang and Suat Eng Seah; counsel Wenfeng Li; and associate Ryan Gorsche. The tax team included partner Jared Rusman and associate Mark Dundon.
Hogan Lovells has advised the Shah Deniz Consortium (BP, State Oil Company of the Republic of Azerbaijan (SOCAR), Statoil, Total, Lukoil, TPAO and NICO) as project counsel for the Stage 2 development of the Shah Deniz gas field in the Caspian Sea, offshore Azerbaijan, which reached final investment decision (FID) on 17 December 2013.
The Seoul and Madrid offices of Herbert Smith Freehills have advised long-standing Spanish client Acciona Energia, on its KRW 162 billion (approximately US$150 million) sale of the Yeong Yang I wind farm in South Korea to a South Korean investment fund.
The Yeong Yang I wind farm, wholly owned indirectly by Acciona Energia, has a capacity of 61.5MW, and is located in the region of North Gyeongsang.
Ashurst advised the sponsors, Aeolus Kenya, on the successful financial close of the development and financing of the 60MW (US$150 million) Kinangop Wind Farm in Kenya. The plant will provide electricity to 150,000 Kenyan households and will be the largest wind power generation project to be built in sub-Saharan Africa to date outside of South Africa.
The project is underwritten by CfC Stanbic Bank who are also the lead arranger. The Norwegian Investment Fund for Developing Countries and Macquarie's African Infrastructure Investment Fund will provide the equity.
Watson, Farley & Williams has advised wpd offshore, the independent German energy group specialising in offshore wind energy, in connection with its joint venture with EDF Energies Nouvelles in their bid for the second offshore wind project, following the call for tenders launched by the French government in May 2013.