Our energy team has acted for major players in the energy sector through the development of energy plants (e.g. CHP plants) and acquisitions of companies active in the sector of renewable energy. We have advised and represented companies in various energy related matters, including mergers and acquisitions, spin-off of energy sector, drafting and negotiating contracts, advice on permit related matters, litigation and arbitration procedures.
Your Legal Partners most recent experience includes:
We regularly advise members of the Mytilineos Group of Companies (Protergia S.A., Aluminium S.A, M&M Gas) on various transactional and regulatory issues related to energy law in their capacity both as producers and consumers of energy.
Gas supply contract with DEPA
Acting for Aluminium S.A., a member of the Mytilineos Group of Companies, on the negotiation of a long term gas supply contract with DEPA (Public Gas Company) as well as regulatory issues regarding the gas market.
Institutional Arbitration of Regulatory Authority of Energy
Acting for Aluminium S.A., a member of the Mytilineos Group of Companies, on transactional issues with PPC as well as on regulatory matters related to the liberalization of the energy market for high voltage consumers and in particular representing Aluminium S.A. against PPC in an ad hoc arbitration of RAE (Regulatory Authority for Energy); such an arbitration (est. value of € 2,3 billion) taking place for the first time pursuant to recently enacted legislation.
M&M Gas Company
We acted for M&M Gas Co, Mytilineos Group and Motor Oil joint venture bidding for the acquisition of 100% of an SPV, which holds a 49% stake in EPA Attikis (Attiki Gas Supply Company S.A) and has the management rights. Our engagement involved full fledge due diligence of the SPV and EPA Attikis, comments on the SPA and provision of legal advice to the bidder regarding its bid. The bidding process was finally aborted.
Purchase by Mytilineos Holdings of 50% of Endesa Hellas stake
We advised MYTILINEOS HOLDINGS S.A. in the acquisition of 50.01% of the share capital held by Endesa Dessarollo S.L. in the joint company ENDESA HELLAS PRODUCTION AND TRADE OF ELECTRICAL POWER S.A. The total value of the transaction was €140 million. We also advised same client in the closing of the transaction with the acquisition by ENEL GREEN POWER, a subsidiary of ENEL, of one wind park and three hydropower plants with a total installed power generation capacity of around 14 MW, which belonged to the Endesa Hellas portfolio, for a price of €20 million. This acquisition was a highlight transaction of 2010 since it marked MYTILINEOS HOLDINGS S.A. as the largest independent energy producer in Greece. For more details on our involvement in the deal see cover story in the May 2010 edition of Acquisition Finance Magazine (http://view.vcab.com).
Mytilineos Holdings S.A., Aluminion S.A. and Endesa Hellas S.A.
We have acted as the legal counsels of Mytilineos Holdings S.A., Aluminion S.A. and Endesa Hellas S.A., major players in the energy sector through the development of energy plants (e.g. CHP plants) and acquisitions of companies active in the sector of renewable energy. We have advised and represented all companies in various energy related matters, including mergers and acquisitions, spin-off of energy sector, drafting and negotiating contracts, advice on permit related matters, litigation and arbitration procedures.
First Import of LNG
We advised Aluminium SA (member of Mytilineos Group) on the import of the first Liquefied Natural Gas (“LNG”) private shipment in Greece, which denoted in practice the liberalization of the natural gas market and the implementation of law 3428/2005. During such assignment we dealt with a number of complex legal issues pertaining mainly to the implementation of the EU and Greek legal framework on the LNG market liberalization, competition issues as well as contracted capacity issues relating to the import of LNG to the national pipeline entry points etc, leading ultimately to the issue of two RAE resolutions (under Nos. 4222/2009 and 4225/2009) on the release of capacity as a result of which the liberalization of the Greek LNG market was practically effected for the first time.
Mytilineos – Wind Portfolio Projects
Advised and performed due diligence in relation to the bids for the acquisition of entities developing wind farm projects totaling to 62.8MW capacity approx. in Drama, Evia and Andros.
Endesa Hellas S.A. – Commenting new draft RES Law –
Advised Endesa Hellas S.A. on several matters including oppositions before RAE, contracts with DEPA, HTSO as well as on the new draft RES Law which was under public consultation.
Emporiki Bank Wind Parks Refinancing
Advised Emporiki Bank on the amendment of project finance of two wind farm SPVs of a 5.25MW overall capacity. Our engagement involved amendment of complex financing and collateral documents.
Emporiki Bank Wind Parks Project Finance
Advised Emporiki Bank in relation to refinancing of a wind park and the financing of two new wind parks of total capacity of 22MW included in Jasper Wind’s investment programs. Our involvement included a due diligence related to project documents, permits, environmental terms etc for all three SPVs and the Sponsor as well as drafting of all finance and collateral documents. The facilities were cross collateralized and involved a complex structure aiming to tax efficiency.
HSBC Bank wind farm project
Counsels to HSBC Bank on a due diligence and project finance regarding a wind farm of a capacity of 3,6 MW on the island of Kos.