Power and Renewables

We have over 20 years’ experience in advising on high profile and innovative transactions in the power sector. Our clients include major market participants, market operators, regulators and governments.

Our team comprises industry experts who provide commercially focused legal solutions in the following areas:

  • power projects - we advise on all aspects of project development, acquisition and financing, from initial inception through to completion together with advice on ongoing operational issues
  • trading - we advise on bespoke and standardised power purchase and trading agreements, including advice with respect to the associated network codes and settlement arrangements
  • market reform and regulation - we have been at the forefront of advising on UK electricity market reform, evolution and regulation, from privatisation through a decade of Electricity Pool and NETA engagements to the current Electricity Market Reform, including the development of FiT contracts for difference and the associated institutional arrangements. We also advise clients on their electricity generation, supply and distribution activities
  • renewables - we advise on a full range of renewables projects and issues, including offshore wind, solar, biomass and biofuels and technology conversion
  • nuclear - our work has involved advice on the restructuring of British Energy, the establishment of the Nuclear Liabilities Fund, the proposed public private partnership for British Nuclear Fuels and work for United Kingdom Nirex Limited. We advise the UK Government on waste management and funded decommissioning programmes for new nuclear build

Our power and renewables expertise forms part of our well-established Energy practice, which comprises lawyers in relevant disciplines including corporate, banking, environment and planning, competition/regulatory and dispute resolution.

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Clients describe the firm as 'astute commercially' and praise it for its 'vast technical knowledge IFLR 1000, 2010

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Our key experience includes advising:

Drax Group plc (Drax) on a £100 million term loan facility and a placing to raise £190 million. The proceeds of the placing will be used to support the funding required to transform Drax into a predominantly biomass-fuelled electricity generator.

YTL Power International Berhad on the purchase of PowerSeraya Limited for an enterprise value of SGD 3.8 billion.

Centrica on the financing of its Lynn and Inner Dowsing offshore wind farms.

Lincs Wind Farm Limited on the financing of its offshore wind farm and OFTO sale.

the UK Government on its electricity market reform project; on the restructuring and sale of British Energy; and 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.

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.

ESB, the government-owned electricity utility in the Republic of Ireland, on an agreement for the acquisition of Northern Ireland Electricity plc, the Northern Irish electricity transmission and distribution business of the Viridian Group.

Our clients include:

  • BIS
  • Centrica
  • DECC
  • DONG Energy
  • Drax
  • General Electric Company of America
  • PowerSeraya
  • Trinidad and Tobago Electricity Company
  • YTL Power International Berhad