energy - watson farley & williams · [french energy] practice gives ... conventional energy...

16
ENERGY FRANCE

Upload: lyanh

Post on 06-May-2018

216 views

Category:

Documents


0 download

TRANSCRIPT

E N E R G Y F R A N C E

“WATSON FARLEY & WILLIAMS’ [FRENCH ENERGY] PRACTICE GIVES ‘HIGH VALUE ADVICE’.” RANKING IN LEGAL 500 EMEA 2014 AND 2015: TIER 1

ENERGY 1

WATSON FARLEY & WILLIAMS KEY FACTS

550+ LAWYERS INCLUDING 140+ PARTNERS

14 OFFICES ACROSS 11 COUNTRIES

ESTABLISHED IN 1982

GLOBAL ENERGY DEDICATED TEAM COMPOSED OF 100+ LAWYERS INCLUDING 40+ IN THE PARIS OFFICE

EXPERIENCE ADVISING ACROSS ALL PHASES OF ENERGY PROJECTS ON ALL CONTINENTS

OVER 20 LANGUAGES SPOKEN

2 Watson Farley & Williams

ENERGY – FULL SERVICE PRACTICE

A distinguished French and international Energy law practice, we combine our in-depth sector know-how with many years’ experience in all aspects of M&A, finance, private equity, regulatory, public law, project/commercial contracts, tax and litigation. The synergy of our specialist teams ensures that we deliver efficient business-driven solutions to our clients on both domestic and cross-border transactions.

• Legal and tax structuring of transactions• Acquisition and sale of companies and assets• Joint ventures• Merger control• Acquisition finance• Post-acquisition finance• Dispute resolution

M&A

• Project financing including senior debt, mezzanine debt and bond issuances• Bankability aspects of the project contracts• Drafting and negotiation of the finance documents• Finance structuring including ECAs, supplier credits and debt funds

Financing

• Zoning and environmental issues• Construction / operation permitting proceedings (incl. power production facilities)• Public law advice on infrastructure planning procedures (incl. transmission assets and grids)• Grid connection, tariff issues• Antitrust law, procurement / concessions and state aids

Regulatory / Public Law

• On-going advice for companies and joint ventures in the Energy sector• General corporate law and tax advice, including corporate housekeeping, corporate governance

issues, restructuring and group financing• Integrated tax advice

Corporate and Tax Services

ENERGY 3

ENERGY – SECTOR EXPERTISE

We draw on our wide experience in advising clients from all areas of the energy market to address specific industry challenges and meet our clients’ needs. Whether developing or financing renewable or conventional energy projects, energy infrastructure projects, clean technologies or implementing growth and M&A strategies, we are able to assist our clients throughout the entire transaction lifecycle.

•Project development•Project acquisition and sale•Joint ventures•Project finance•Structuring of funds•Regulatory aspects

Renewable Energy (onshore and offshore wind, solar, hydro, marine energy, biomass, biogas, geothermal and cogeneration)

•Power plany construction (incl. permitting proceedings)•Project development•Project acquisition and sale•Project finance•Joint ventures•Regulatory aspects

Conventional Power Projects

•Transmission assets/grids•Pipelines•Energy efficiency•Power storage and tank storage facilities•Acquisition and sale of transmission assets•Joint ventures•Regulatory aspects•Project finance

Energy Infrastructure

•Strategic acquisition and sale of CleanTech companies and clean technology providers•Private equity investments in CleanTech projects•Venture Capital•Acquisition financing•Financing of growth and expansion•Restructuring

Clean Technology

4 Watson Farley & Williams

ONSHORE PROJECTS

EFG HERMES Advising the private equity arm of EFG Hermes on all the legal and tax aspects of the acquisition of a 49% stake in EDPR France ‒ holding a portfolio of 33 operational wind farms with a combined capacity of 334 MW ‒ for €165m.

CRÉDIT AGRICOLE ASSURANCES Advising Crédit Agricole Assurances on its acquisition of 50% of the share capital of GDF Suez Futures Energies Investissement Holding – owning 39 onshore wind farms with a capacity of 440 MW – through its subsidiary, Predica.

M&G INVESTMENT & SEQUOIA Advising two London-based subscribers, M&G Investments and Sequoia Economic Infrastructure Income Fund, in relation to the subscription of green bonds for a total amount of €40 million in order to refinance the equity attached to a 100 MW portfolio of 13 wind and solar projects owned by French developer Neoen.

SOCIÉTÉ GÉNÉRALE Advising the arranger, Société Générale, in its role as lender in the financing of wind farms in France with a total output capacity of 100 MW developed by Valorem.

ACOFI GESTION Advising Acofi Gestion, an asset management company, in respect of the €12.5m refinancing, by its fund Predirect EnR 2030, of five wind farms located in northern France which had been developed by Valorem and together have a combined output capacity of 55 MW.

PROJECT MONT D’ERNY Advising HSH Nordbank in connection with the financing of the 12.5 MW capacity Mont d’Erny windfarm by means of a €29.6 million loan. The project was developed by Nordex and sponsored through an investment fund managed by Rive Private Investment (group 123Venture & Elyseum Investment).

PROJECT TOUVENT Advising Crédit Industriel et Commercial in connection with a loan facility made available to Boralex, a Canadian developer of renewable energy projects. The facility is to be used to finance the “Touvent” wind farm site (13.8 MW) and to re-finance the St Patrick wind farm (34.5 MW), both of which are located in the Nord-Pas-de-Calais region.

PROJECT TENBONREV Advising Crédit Industriel et Commercial in connection with the financing of “Tenbonrev”, the first wind farm to be set up by the Tenergie Group and which is located in the Marne region and has a total output capacity of 15 MW.

KGAL Advising the German investment management company KGAL on the expansion of their wind farm portfolio, through the acquisition of the two Seine Rive Gauche Nord wind farm projects in Northern France, from H2air and Nordex. This is the third largest wind farm project (75 MW) in France to date.

DANISH BANK Advising on the refinancing of wind farm assets in France totalling 38.9 MW and negotiating the restructuring of debt.

PROJECT ROYE AND FORTEL Advising the German bank KfW IPEX-Bank GmbH on the legal and tax aspects regarding of the €65m financing of two French wind farms with a combined capacity of 45.6 MW and developed by power producer and operator Boralex Inc.

PROJECT SAINT-RIQUIER Advising the German bank HSH Nordbank in the €38.4m financing of the construction, development and operation of wind farms with a total capacity of 26 MW in France sponsored by Impax and managed by Epuron.

PROJECT SAINT-CONGARD Advising HSH Nordbank on the €13.2m financing for a wind farm with a total capacity of 8.2 MW, developed and sponsored by Baywa r.e. Asset Holding GmbH.

MEAG (MUNICH RE) Advising the German institutional investor MEAG (Munich Re) in its joint venture with EDF EN and GE on the acquisition of a portfolio of 32 wind farms in France (300 MW) from Iberdrola Renovables.

KGAL Advising the German investment management company KGAL on the acquisition of several French wind farms (148 MW) from Spanish and German operators such as Gamesa, ABO Wind and WKN, including draft and negotiation of Share Purchase Agreements and the completion of due diligence studies.

SELECTED EXPERIENCE WIND

ENERGY 5

ARRANGER AND LENDERS Advising an arranger and lenders on the financing for the construction and operation of a 24 MW capacity wind farm in France (Seine et Marne and Loiret departments).

ARRANGER AND LENDERS Advising an arranger and lenders on the financing for the construction and operation of two wind farms in France with capacities of 32 MW and 14 MW respectively.

CRÉDIT AGRICOLE ASSURANCES Advising Crédit Agricole Assurances, in the framework of its corporate joint venture with Engie, on the acquisition through their joint company of 26 wind farms with a total capacity of 250 MW.

CRÉDIT AGRICOLE ASSURANCES Advising Crédit Agricole Assurances, in the framework of its corporate joint venture withEngie, on the acquisition through their joint company, of two onshore wind farm projects for a total capacity of 41 MW from Engie.

KGAL Advising KGAL on the acquisition of three French wind farms. The wind farms Souvigné (near Le Mans), and Quatre Vallées 1 and 2 (in the Marne region) have an installed capacity of 8 MW, 12 MW and 20 MW respectively.

INDUSTRIELLE WERKE BASEL Advising the Swiss utility Industrielle Werke Basel on all the legal and tax aspects of the acquisition of the Atrebatie wind farm project (42 MW) in France from German project developer OSTWIND International.

SPANISH BANK Advising a Spanish bank in relation to an equity bridge loan granted to a French developer in connection with a wind farm project for a total installed capacity of 28 MW.

COMPAGNIE DU VENT Advising Compagnie du Vent, a French energy company, on the development and structuring of onshore wind farm projects in France.

WKN Advising WKN on the acquisition of a wind farm in France with a capacity of 12 MW, on the negotiation of a settlement agreement with a competitor and on the application of the "ICPE" regime for its existing and future wind farm.

SYNDICAT DES ENERGIES RENOUVELABLES Advising the French renewable energies association for the implementation of the Orders relating to the "Grenelle I" and "Grenelle II" Laws notably regarding the "ICPE" regime applicable to onshore wind farms.

OFFSHORE PROJECTS

WPD OFFSHORE Advising the German developer, wpd offshore, member of a winning consortium comprising Energies Nouvelles and DONG Energy, on the first and second French offshore wind farm tender (3,000 MW and 1,000 MW respectively) organised by the French authorities, including drafting and negotiation of contractual documentation.

OFFSHORE CONTRACTOR Advising an offshore contractor on setting up its business in France, including advice on the French tax aspects of the incorporation of its French business as well as the French tax and legal aspects relating to the EPC contracts to be entered into for the first offshore wind farms in France and analysis of the tax aspects for the financing of the jack-up vessel.

MEERWIND PROJECT Advising an international consortium of lenders led by Dexia Crédit Local and KfW-IPEX on arranging project financing for WindMW GmbH in relation to the German offshore wind farm project Meerwind, with a total capacity of 288 MW and a total investment volume of €1.2bn.

C-POWER PROJECT Advising a syndicate of international lenders – comprising seven banks (ASN Bank, Commerzbank, Dexia, KBC, KfW Ipex-Bank, Rabobank and Société Générale) and two ECAs (Euler Hermes and Export Kredit Fonden) – involved in the financing (approximately €1.3bn) of the offshore wind farm C-Power located off the Belgian coast.

6 Watson Farley & Williams

PROJECTS SUN'R1 AND SUN’R 2 Advising a pool of French banks comprising BRED Banque Populaire, Bpifrance Financement, Arkea Banque Entrepreneurs et Institutionnels, Caisse d'Epargne et de Prévoyance de Lorraine Champagne-Ardenne, on the financing of the legal restructuring of two portfolios owned by Sun’R. The first portfolio, “SUN’R 1”, is composed of 34 solar power plants with a total capacity of 5.6 MW and the second, “SUN’R 2”, is composed of 26 solar power plants with a total capacity of 4.5 MW.

CRÉDIT INDUSTRIEL ET COMMERCIAL Advising Crédit Industriel et Commercial in connection with a €15m loan facility granted to an SPV wholly owned by Boralex for the financing of a ground-based solar plant.

AUXIFIP Advising Auxifip on the financing of a ground-based solar plant developed by a French first tier developer and with a capacity of 10 MW.

SOLAIREDIRECT Advising Solairedirect on the completion of a Vendor Due Diligence report covering 21 solar plants under construction (with a total capacity of around 300 MW) and the preparation of the corresponding Share Purchase Agreements and project contracts.

TENERGIE Advising Tenergie in relation to the financing of several roof-based solar plants and located in France.

CRÉDIT AGRICOLE ASSURANCES Advising Crédit Agricole Assurances, in the context of its corporate joint venture with Engie, with the acquisition through their joint company, of five solar projects for a total capacity of 45 MW from Engie.

ACOFI GESTION Advising Acofi Gestion, an asset management company, in respect of the refinancing, by its fund Predirect EnR 2030, of a portfolio of 154 solar installations located across the South of France which had been developed by Fonroche Investissements and together have a combined capacity of 82 MW.

SUSI PARTNERS - THIRDSTEP 1 & 2 Advising the Swiss investment fund SUSI Partners AG on all the legal and tax aspects of the acquisition of two solar plant portfolios of 39 MW and 53.4 MW co-developed by Altus Energie SAS and Solaïs SAS. These two portfolios represent nearly 10% of the estimated newly constructed solar power plants in France in 2014.

INFRAGREEN Advising InfraGreen II, a debt securitisation fund, in connection with the €6m bond issue for the refinancing of the 9 MW solar power storage facility, “Les Cèdres”, on the island of La Réunion, developed by Akuo Energy, and with the €7.5m bond issue for the refinancing of equity investments in “Cabreal” and “Seixal”, two solar power plants with a capacity of 21.8 MW, developed by Neoen and located in Portugal.

PROJECT AVENIR Advising a pool of French banks including Bpifrance Financement, Natixis Energéco and Banque Palatine in relation to the €58m refinancing of a portfolio comprising 14 solar parks developed by Eneryo and with a total capacity of 15,8 MW.

NATIXIS ENERGECO Advising Natixis Energeco on the acquisition a solar project in France composed of 108 photovoltaic greenhouses with a total capacity of 10.7 MW.

AMERICAN INVESTMENT FUND Advising a major American investment fund on the acquisition of a stake in several project developers holding photovoltaic power plants in France with a total capacity of 20 MW.

BNP PARIBAS CLEAN ENERGY Advising the British investment fund BNP Paribas Clean Energy (now Glennmont Partners) in relation to the acquisition of roof-mounted photovoltaic power plants (55 MW) on the parking lots of five industrial sites owned by Renault from the Spanish operator Gestamp Asetym Solar.

SELECTED EXPERIENCE SOLAR

ENERGY 7

SOLAIREDIRECT Advising Solairedirect on the set up of an institutional public-private partnership (SEML - Société d'Economie Mixte Locale) in order to support the promotion of photovoltaic power plants in the French region, Poitou-Charentes.

PROJECTS ACQUITAINE AND BISCAYA Advising HSH Nordbank on €113m financing of a portfolio of 11 solar plants based in France with a total capacity of 108.1 MW developed by GP Joule PV and sponsored by Marschblick France Beteiligungs.

PROJECT LACOSTE Advising HSH Nordbank on €75.3m financing of five solar parks based in France with a total capacity of 58.2 MW developed by TSK Electronica y Electricidad and sponsored by Baywa r.e.

BAYWA R.E. Advising German group BayWa r.e. in connection with the negotiation of an EPC contract for a 300 MW solar plant in France.

RALOS ENERGY Advising Ralos Energy in connection with the preparation, negotiation and implementation of specific OTC contracts to be concluded with EDF-SEI in Corsica and the acquisition of 2 projects to be built.

ARRANGER AND LENDERS Advising an arranger and lenders on the financing for the construction and operation of a 34 MW portfolio of ground-based solar plants in France.

ARRANGER AND LENDERS Advising an arranger and lenders on the financing for the construction and operation of a ground-based solar plant in Guyane with a capacity of approximately 4.8 MW in France.

INDUSTRIELLE WERKE BASEL Advising the Swiss investor Industrielle Werke Basel on the acquisition of three photovoltaic power plants in France with a total capacity of 20 MW including drafting and negotiating of a sale and purchase agreement and the completion of a due diligence study.

KGAL Advising the German investment management company KGAL in relation to the acquisition of two solar parks in France with a total capacity of 23 MW from the French project developer Solairedirect.

KGAL Advising the German investment management company KGAL in relation to the acquisition of four solar parks with a total capacity of 19.7 MW from the French project developer Langa Solar.

PROJECTS IOVI AND EQUINOX Advising HSH Nordbank on the €272.7m financing for the construction, development and operation of a pipeline of solar projects in France with a total capacity of 175.6 MW developed by Solairedirect and sponsored by 123Venture or Capital Stage.

SPANISH BANK Advising a Spanish bank on a €30m equity bridge loan to a French developer for a 24 MW solar project.

PROJECT ORTAFFA Advising HSH Nordbank on the €131.5m financing for the construction, development and operation of a pipeline of solar projects in France with a total capacity of 44.7 MW developed by EDF EN France or Juwi EnR and sponsored by 123Venture.

SOLAIREDIRECT Advising France’s leading solar producer/developer, Solairedirect, on the implementation of an innovative public law structure for the purchase of electricity at a guaranteed tariff.

GERMAN BANK Advising a German bank on the €20m financing of two solar projects (5.8 MW) in Corsica and on the tax restructuring of the special purpose vehicles and the sponsor’s equity contribution.

ECO DELTA Advising the French project developer Eco Delta in respect with a vendor due diligence for 13 photovoltaic power plants in operation in France.

RENEWABLE ENERGY, PROJECT FINANCE AND REGULATORY PRACTICES MARKED AS “EXCELLENT” DÉCIDEURS, SINCE 2014

ENERGY 9

FIRST STATE INVESTMENTS Advising First State Investments on the acquisition of Coriance, specialising in district heating and cooling networks, electricity generation (including cogeneration) and energy services, from KKR’s infrastructure funds and a co-investor.

AMUNDI TRANSITION ÉNERGÉTIQUE (ATE) Advising ATE, a management company owned jointly by Amundi and EDF, in connection with the purchase via the Cogénération France I Fund of a majority stake in a portfolio of cogeneration plants owned by Dalkia. This first investment by ATE which amounts to over €150m involves 132 plants with a combined capacity of more than 330 MW.

FRENCH ENERGY SERVICE COMPANY Assisting a French energy service company with the construction and operation of a biomass cogeneration plant (70 MW) in Chile including negotiation of the BOT contract, drafting and negotiation of the EPC contract.

FRENCH INVESTMENT FUND Assisting a French investment fund in the acquisition of a minority stake in a project developer dedicated to biomass cogeneration plants.

FRENCH ENERGY SERVICE COMPANY Advising a French energy service company on the Belgian regime applicable to a biomass cogeneration operating company and entitled to the Flemish Region green certificates.

AUSTRALIAN INFRASTRUCTURE FUND Advising an Australian infrastructure fund on the acquisition of a portfolio of 34 cogeneration plants in France with a total capacity of 310 MW (operation did not close).

OXARA Advising Oxara on a dispute concerning the purchase agreements of biomass facilities in France.

CDC AND ATLANTE GESTION Advising CDC and Atlante Gestion in the financing of a biomass cogeneration plant for the supply of heat to the Lens municipality heating network.

FRENCH PROJECT DEVELOPER Assisting a French project developer in the acquisition of a majority stake in the holding company of project developers dedicated to biomass cogeneration plants.

FRENCH INVESTMENT FUND Advising a French investment fund in respect with a vendor due diligence related to one of their portfolio companies developing and operating cogeneration, solar and wind projects.

BIOPURE ENERGY Advising in relation to a capital injection by a private equity fund in a biogas business, encompassing work on corporate structure and the production of all legal documentation.

SELECTED EXPERIENCE COGENERATION

10 Watson Farley & Williams

DALKIA FRANCE Advising Dalkia France on all the legal aspects relating to the sale of its 24% stake in the Régaz-Bordeaux Group which operates the gas distribution network supplying 46 towns in the Greater Bordeaux area. Regaz- Bordeaux is the largest independent gas distributor in France with a network of 3,315 km and 210,000 delivery points. Dalkia France sold its stake to InfraVia European Fund II.

THERMAL POWER PLANTS Advising two utilities in the sale of two thermal power plants to a US investment fund.

IT SERVICE COMPANY Advising an IT service company on the negotiation of a procurement agreement with a French gas grid operator providing technological solutions for remote electric meters.

FIRST STATE INVESTMENTS Advising First State Investments on the acquisition of Coriance, specialising in district heating and cooling networks, electricity generation (including cogeneration) and energy services, from KKR’s infrastructure funds and a co-investor.

AMUNDI TRANSITION ÉNERGÉTIQUE (ATE) Advising ATE, a management company owned jointly by Amundi and EDF, in connection with the purchase via the Cogénération France I Fund of a majority stake in a portfolio of cogeneration plants owned by Dalkia. This first investment by ATE which amounts to over €150m involves 132 plants with a combined capacity of more than 330 MW.

FRENCH INVESTMENT FUND Assisting a French investment fund in the creation of a joint venture with an operator to be dedicated to investment in and operation of district heating networks.

GRAND LYON Advising the consortium comprising Dalkia France, IDEX Energies, and CDC Infrastructure in relation to the tender for the construction, financing, operation and maintenance of an urban heating and cooling network for Le Grand Lyon local authority.

FRENCH WASTE MANAGEMENT GROUP Advising a French waste management group on the establishment of a joint venture for the operation of an urban heating network under a concession contract.

SELECTED EXPERIENCE CONVENTIONAL ENERGY & ENERGY INFRASTRUCTURE

ENERGY 11

Our Paris office team has particular expertise in handling cross-border transactions and notably in a large number of emerging markets. Some team members have extensive knowledge of Latin America, having worked in the region for some years and are fluent in Spanish and Portuguese. They have also represented investors in relation to project development and acquisitions in various countries in Africa including Nigeria, Madagascar, South Africa, Morocco, Algeria, Benin, Nigeria, Jordan and Togo amongst others. Some of the most recent transactions are detailed here:

MOROCCAN PROJECT DEVELOPER Advising a Moroccan project developer and its French business partner on the construction of the first solar project in Benin which was financed by the French Development Agency (AFD).

SOLAR ELECTRICITY PRODUCER Advising a solar electricity producer on the development of several solar power plants in Nigeria.

CONSULTANCY FIRM Advising a Belgian consultancy firm on the establishment of a Power Purchase Agreement for a solar plant of 4 MW in Jordan.

LENDERS Advising the lenders in relation to an ECA-supported loan facility in order to finance the supply of equipment for the installation of power lines in Brazil.

FRENCH ENERGY SERVICE COMPANY Assisting a French energy service company in connection with the construction and operation of a biomass cogeneration plant (70 MW) in Chile including negotiation of the BOT contract, drafting and negotiation of the EPC contract.

SPONSORS IN IVORY COAST AND CAMEROON Advising local sponsors in connection with the development through a joint venture with a US investment fund, of hydroelectric projects in Ivory Coast and Cameroon.

LENDERS Advising the lenders in relation to an ECA-supported loan facility in order to finance the supply of steam turbines for a solar power plant in South Africa.

PROJECT DEVELOPER Providing training to a leading French developer on the regulatory, corporate, commercial and financial law aspects of solar projects in Senegal, Ghana, Jordan and Turkey.

DEUTSCHE BANK Advising the Paris branch of Deutsche Bank as Mandated Lead Arranger in relation to a Coface supported loan facility for Axion Energy Argentina SRL in order to finance a turn-key extraction and sulphur processing unit project.

CITELUM Advising Citelum in relation to negotiating and drafting PPP contracts related to the construction, operation and maintenance of public street lighting systems in Morocco.

SELECTED EXPERIENCE EMERGING MARKETS

12 Watson Farley & Williams

“VINCENT TRÉVISANI HAS ‘GOOD INDUSTRY KNOWLEDGE’ AND IS ‘VERY GOOD AT SEEING THE FULL PICTURE’. FINANCE EXPERT LAURENCE MARTINEZ-BELLET IS ‘MOST EXPERIENCED IN NEGOTIATING FACILITY AGREEMENTS’, AND THE ‘EXTREMELY RESPONSIVE’ LAURENT BATTOUE IS RECOMMENDED FOR PUBLIC LAW ASPECTS’.” LEGAL 500, ENERGY, 2016

“CLIENTS DESCRIBE THE TEAM AS ‘RESPONSIVE, PROACTIVE, READY TO OFFER ADVICE AND ASSISTANCE (BEYOND SPECIFIC ASSIGNMENTS), BUSINESS-ORIENTED WITH VALUABLE SUGGESTIONS’.” CHAMBERS EUROPE, 2017

“LAURENT BATTOUE IS DESCRIBED AS ‘A GREAT AND DEDICATED LAWYER’ BY CLIENTS, WHO ADD THAT ‘HE KNOWS HIS SUBJECT VERY WELL.’ HIS CLIENTS INCLUDE INVESTORS AND PUBLIC ENTITIES.” CHAMBERS EUROPE, 2017

“WFW IS ‘HIGHLY COMPETENT AND VERY KNOWLEDGEABLE’ IN THE RENEWABLE ENERGY SECTOR, WHERE IT HAS STRONG EXPERIENCE OF ADVISING INTERNATIONAL INVESTORS AND LENDERS ON THE FINANCING AND M&A ASPECTS OF FRENCH RENEWABLE PROJECTS.” LEGAL 500, ENERGY, 2016

“STRONG TEAM REPRESENTING SPONSORS, INVESTORS AND BANKS IN THE FINANCIAL AND ACQUISITION ELEMENTS OF A RANGE OF ENERGY PROJECTS, PARTICULARLY IN THE RENEWABLES SECTOR. ‘THE TEAM IS ALWAYS AVAILABLE FOR US IF WE NEED IT, EVEN IF WE HAVE A SPECIFIC QUESTION NOT LINKED TO A FILE WE ARE WORKING ON TOGETHER. IT'S LIKE A KIND OF LEGAL HOTLINE FOR US.’” CHAMBERS, ENERGY, 2016

“THE TEAM PROVIDES ‘HIGH-QUALITY ADVICE’ ON RENEWABLE ENERGY PROJECTS AND ‘FINDS CREATIVE AND EFFICIENT SOLUTIONS’.” LEGAL 500, ENERGY, 2015

“PROVIDES ‘A RELIABLE AND GOOD LEVEL OF SERVICE’ IN INFRASTRUCTURE PROJECTS’.” LEGAL 500, PUBLIC LAW, 2014

“CLIENTS DESCRIBE THE TEAM AS ‘RESPONSIVE, PROACTIVE, READY TO OFFER ADVICE AND ASSISTANCE (BEYOND SPECIFIC ASSIGNMENTS), BUSINESS-ORIENTED WITH VALUABLE SUGGESTIONS’.” CHAMBERS, ENERGY, 2017

“WFW ASSISTS MAJOR BANKS, SPONSORS AND PUBLIC ENTITIES WITH PPP PROJECTS.” LEGAL 500, PUBLIC LAW, 2015

“[THEY] HAVE ‘DEEP LEGAL AND REGULATORY KNOWLEDGE AND [A] VERY GOOD NETWORK IN THE RENEWABLES MARKET’.” IFLR 1000, PROJECT FINANCE, 2014

“ENJOY A NOTABLE PRESENCE IN PPPS, INFRASTRUCTURE PROJECTS AND PUBLIC PROCUREMENT WORK. ALSO ADVISES REGULATORY BODIES ON THE DESIGN AND IMPLEMENTATION OF SECTOR-SPECIFIC LAWS AND COMPANIES ON THE REGULATORY FRAMEWORKS. ‘THE LAWYERS HAVE THE INTERNATIONAL PROFILE AND SENIORITY TO CARRY OUT THE NECESSARY DETAILS.’” CHAMBERS, PUBLIC LAW, 2015

“WATSON FARLEY & WILLIAMS LLP’S PRACTICE GIVES ‘HIGH-VALUE’ ADVICE IN THE SOLAR AND WIND ENERGY SECTORS.” LEGAL 500, ENERGY, 2014

“…TEAM APPLIES THE ‘HIGHEST PROFESSIONAL STANDARDS’.” LEGAL 500, ENERGY, 2014

“…FOCUS ON PROJECT FINANCE, TRADE AND COMMODITIES FINANCE, AND PUBLIC-PRIVATE PARTNERSHIPS.” CHAMBERS, PROJECT FINANCE, 2014

REPUTATION

ENERGY 13

Athens

6th Floor, Building B 348 Syngrou Avenue Kallithea 176-74, Athens

T: +30 210 455 7300

Bangkok

Unit 902, 9th Floor GPF Witthayu Tower B 93/1 Wireless Road Patumwan, Bangkok 10330

T: +66 2665 7800

Dubai

Unit 1, Level 25, Tower 2 Al Fattan Currency House PO Box 506896 Dubai

T: +971 4 278 2300

Frankfurt

Ulmenstraße 37-39 60325 Frankfurt am Main

T: +49 69 297 291 0

Hamburg

Neuer Wall 88 20354 Hamburg

T: +49 40 800 084 0

Hong Kong

Suites 4610-4619, Jardine House 1 Connaught Place, Hong Kong

T: +852 2168 6700

London

15 Appold Street London EC2A 2HB

T: +44 20 7814 8000

Madrid

C/ María de Molina, 4 28006 Madrid

T: +34 91 515 6300

Milan

Piazza del Carmine 4 20121 Milan

T: +39 02 721 7071

Munich

Gewürzmühlstraße 11 ‒Courtyard 80538 Munich

T: +49 89 237 086 0

New York

250 West 55th Street New York, New York 10019

T: +1 212 922 2200

Paris

28 avenue Victor Hugo 75116 Paris

T: +33 1 56 88 21 21

Rome

Piazza Navona 49 00186 Rome

T: +39 06 684 0581

Singapore

6 Battery Road #28-00 Singapore 049909

T: +65 6532 5335

OUR OFFICES

wfw.com

ATHENS BANGKOK DUBAI FRANKFURT HAMBURG HONG KONG LONDON MADRID MILAN MUNICH NEW YORK PARIS ROME SINGAPORE

Publication code number: 57996354v4© Watson Farley & Williams 2018

All references to ‘Watson Farley & Williams’, ‘WFW’ and ‘the firm’ in this document mean Watson Farley & Williams LLP and/or its Affiliated Entities. Any reference to a ‘partner’ means a member of Watson Farley & Williams LLP, or a member or partner in an Affiliated Entity, or an employee or consultant with equivalent standing and qualification. The transactions and matters referred to in this document

represent the experience of our lawyers. This publication is produced by Watson Farley & Williams. It provides a summary of the legal issues, but is not intended to give specific legal advice. The situation described may not apply to your circumstances. If you require advice or have questions or comments on its subject, please speak to your usual contact at Watson Farley & Williams.

This publication constitutes attorney advertising.