Electricity, Nuclear and Renewables

Our key experience includes advising:

the UK Government on the restructuring of British Energy; we also advised The Department for Business, Energy and Regulatory Reform (BERR) on the sale of part of its interest in British Energy Group plc through an accelerated book-built offering.

the UK Government on funded nuclear decommissioning and waste management programmes.

on power purchase contracts used on the first major UK IPP (Teesside) and since then on contracts (CFD, GTMA, EFET or bespoke structured products) for, among others, Lakeland Power, Keadby, Drax, British Energy, Reliant, Enron and TXU.

on the Q7 Windfarm Project. We advised in relation to the financing for the development of the Q7 Windfarm Project offshore the Netherlands by E-Connection and Fortis.

Terra Firma on the leveraged buyout of Waste Recycling Group (WRG), one of the leading waste management and waste-to-energy companies in the UK, on the subsequent refinancing of WRG through a combination of bank debt and a £500 million high yield note issue, and on the demerger of its waste-to-energy business to Infinis.

European Bank for Reconstruction and Development (EBRD) on the establishment of a multilateral carbon credit fund with The Netherlands, the establishment of a standard form ERPA, and on carbon management agreements.

on Rijnmond II. We advised Centrica on its gas tolling arrangements with InterGen.

on Meghnaghat. We advised the project company and sponsor on project financing facilities for this 450MW power station, the first large-scale independent power project in Bangladesh (this transaction won joint 'Asia Power Deal of the Year 2001' in Euromoney's Project Finance Magazine).

Trinidad and Tobago. We advised the Electricity Commission over a ten-year period on the privatisation of its generating assets and subsequent investment and offtake from new power stations (each of about 200MW).

YTL Power International on power projects in India, Bangladesh, Indonesia and South Africa and also advising on a bid for power assets in the Philippines.

Enron Teesside Operations Limited (ETOL) on its restructuring and disposal, including on licensing and competition issues.