Hogan Lovells has advised MOL Group on its agreement to acquire the entire issued share capital of Wintershall (UK North Sea) Limited for a base consideration of US$375m, subject to adjustment at closing.  The closing, which is expected to take place in the first quarter of 2014, is subject to the approval of the Department of Energy & Climate Change (DECC) and the consent of third party partners related to the ownership interests.

Hogan Lovells has advised the Alstom-Drax-BOC Consortium, Capture Power, on the Department of Energy and Climate Change FEED Contract awarded to the White Rose Carbon Capture and Storage (CSS) Project, announced on Monday 9 December by Energy and Climate Change Secretary Edward Davey.

Slaughter and May advised Centrica on the sale of its Race Bank wind farm project to DONG Energy for £50 million.

The Race Bank wind farm project is situated 27km off the Norfolk Coast and received consent for a capacity of up to 580MW in 2012. Once fully developed, it could meet the equivalent annual electricity demand of more than 450,000 UK homes. It has been taken through the planning and front-end engineering and design phase by Centrica, and DONG Energy will now take forward the project’s development.

Ashurst has advised Atlantis Resources in connection with its acquisition of MeyGen, Europe's largest tidal power project.  Atlantis already held 10% of MeyGen Limited, the company developing the project, and has acquired the remaining equity from its joint venture partners Morgan Stanley and GDF SUEZ.

Slaughter and May advised DONG Energy on the sale of the Severn gas-fired power station to a consortium of investors led by Macquarie Group's Infrastructure and Real Assets business for £350 million, plus an earn-out based on the future gross margin of the Severn power station.

The  Severn power station, which is situated at Uskmouth near Newport in South Wales, has a capacity of 832MW and is able to generate power for approximately 1.5 million households.

Contacts

CMS has advised National Grid on its successful bid to secure funds for a full feasibility study on the White Rose project, a government-backed carbon capture and storage (CCS) project.

Slaughter and May advised Centrica plc on the formation of Ignite Social Enterprise LP, the UK's first impact investment fund with a focus on energy related businesses and enterprises.

The fund, which is backed by Centrica, aims to invest a minimum of £10 million over ten years. As well as providing capital, Ignite will help its investee companies to grow through mentorship, networking and the support of Centrica employees. Further information is available at www.ignitesocialenterprise.org.

CONTACTS

Ashurst acted as international counsel for Salamander Energy on its issuance of US$150 million unsecured bonds. The bonds have a term of six years and one month and will be repaid as a bullet at maturity. The bonds carry a coupon of 9.75 per cent and are issued at par.  An application will be made to list the bonds on the Nordic ABM or the Oslo Stock Exchange.

Herbert Smith Freehills advised InterOil Corporation, a petroleum company incorporated in Canada with operations in Papua New Guinea, on its sale of a significant interest in Petroleum Retention Licence 15 (PRL15) to Total of France, one of the world's largest oil and gas companies.

PRL15 contains the Elk and Antelope fields in the Gulf Province of Papua New Guinea. The two fields are the largest undeveloped conventional gas resource in Asia Pacific.

Herbert Smith Freehills has advised GCL-Poly Energy Holdings Limited, China's largest polysilicon and solar wafer producer, on its US$200 million 0.75% convertible bonds due 2018.

The bonds are proposed to be listed on the Singapore Exchange and represents GCL-Poly's very first convertible bonds offering.