Energy & Environment

Motor Oil Acquisition of 12 Wind Farms

We advised Motor Oil on the acquisition from a leading global investment fund of a portfolio of 12 wind farms with a total capacity of 240MW, the biggest part of which is located in central and northern continental Greece. The acquisition was part of the acquisition of a wider portfolio of wind projects with a total capacity of 650 MW.

DEPA Infrastructure Privatisation Tender

We are advising an international consortium in their participation in the tender conducted by the Hellenic Republic Asset Development Fund (HRADF) for the privatisation of DEPA Infrastructure and its subsidiaries which own and operate the Greek natural gas distribution network.

DEPA Commercial Privatisation Tender

We are advising a consortium consisting of two major energy companies in their participation in the tender conducted by the Hellenic Republic Asset Development Fund (HRADF) for the sale of a majority stake in DEPA Commercial and its subsidiary EPA Attikis, the leading Greek natural gas retailer.

PIMCO Public Power Corporation Securitisation

We advised PIMCO in connection with the securitisation of PPC receivables (Zeus portfolio) under electricity invoices that have been outstanding for more than 90 days.

Acquisition and Development of Photovoltaic Plants by Middle Eastern Sovereign Fund

We advise a consortium comprised of a Middle Eastern sovereign fund and a European renewable energy investor in the acquisition and development of photovoltaic parks in Greece.

Acquisition of RES Project Developer by Major European Clean Energy Producer

Together with Hogan Lovells, we advised a major European clean energy producer in the contemplated acquisition of a European project developer operating mainly onshore wind and solar assets and with subsidiaries across Europe, including Greece.

Alexandroupolis LNG Project

We act for Gastrade in relation to the development and financing of the Alexandroupolis Independent Natural Gas System (INGS), a c.€360m cutting edge technology project comprising an offshore floating unit for the reception, storage and regasification of LNG and a system of a subsea and an onshore gas transmission pipeline.

Gas Interconnector Greece – Bulgaria (IGB Pipeline)

We are advising the joint venture company ICGB AD on the development of the Gas Interconnector Greece-Bulgaria (IGB Pipeline), which will provide a direct link between the national natural gas systems of Greece and Bulgaria with an entry point in the vicinity of Komotini and an exit point in the vicinity of Stara Zagora. The IGB Pipeline will act as a strategic gas transportation infrastructure providing diversification of gas supply to the Bulgarian and South East Europe gas market and supply security to Greece.

Chinese Sovereign Fund Acquisition of RES Corporate Portfolio

Together with Linklaters, we advised a Chinese sovereign fund in relation to the acquisition of a stake in a Hong Kong-based international corporation owning a number of renewable projects in Greece through subsidiaries.

Independent Power Transmission System Operator Privatisation

We are advising a European power transmission system operator in relation to their potential acquisition of stakes in the Independent Power Transmission System Operator (IPTO) in the context of its contemplated privatisation.

Motor Oil Hellas Acquisition of Wind Projects

We act for Motor Oil Hellas in relation to its participation in a private tender for the sale of a portfolio of wind parks of a total capacity of 250 MW.

Waste Management Regulatory Advice to Multinational Technology Company

We advised a multinational technology company on the regulatory framework which applies to its waste management activities in Greece, including hardware and hard disc shredding.

Development of Fiber Optics System

We advised an oil and gas producer in relation to the regulatory requirements arising from the potential development and exploitation of a fiber optics system installed as part of the Greek section of the Trans Adriatic Pipeline.

Self-Consumption Schemes and RES Projects

We are advising a UK-based consulting firm in connection with the available self-consumption schemes under Greek law and on corporate PPAs related matters.

European Infrastructure Fund Participation in Tender for the Sale of 65 PV Parks

We acted for a European infrastructure fund in their participation in the tender process conducted by the Mytilineos Group for the sale of 65 PV Parks.

Regulatory Advice to European Natural Gas Company

We advise a European natural gas company on regulatory matters in relation to their indirect participation in the National Natural Gas Transmission System Operator (DESFA).

Car Manufacturer Entry to Electromobility Μarket

We advise a European car manufacturer in relation to its entry into the Greek electromobility market and launch of electric vehicles charging services in Greece.

Securitisation of Public Power Corporation Receivables

We are acting for an investment management firm in connection with the contemplated securitisation of outstanding Public Power Corporation (PPC) receivables.

Kassandra Mines

We acted for the Hellenic Republic in relation to the renegotiation of the terms of the Kassandra Mines investment.

Prinos Oil Concession

We act for the Hellenic Republic in relation to the provision of temporary operating aid to the Prinos Oil Concession project company due to the Covid-19 pandemic.

Tender for Acquisition of 66% in DESFA

We advised a consortium of S.N.T.G.N. Transgaz SA, the European Bank for Reconstruction and Development (EBRD), Reganosa Asset Investments, SL and Regasificadora del Noroeste SA in the tender for the acquisition of a 66% stake in National Natural Gas Transmission System Operator (DESFA) involving the sale of 31% in DESFA held by the Hellenic Republic Asset Development Fund (HRADF) and the 35% held by Hellenic Petroleum, with the remaining 34% being transferred to the Hellenic Republic.

Regulatory Advice to Leading Oil Company

We are advising a leading oil company in relation to regulatory matters pertaining to the licensing of their power and gas trade activities in Greece.

Ellaktor and EVP Regulatory Advice

We advised Ellaktor and its wholly owned UK subsidiary Ellaktor Value PLC (EVP) on the energy regulatory aspects of a debut €600m high-yield international bond offering and a subsequent €70m tap offering, and the issuance of €670m aggregate principal amount of guaranteed notes due 2024 by EVP and their listing on the International Stock Exchange.

RWE Natural Gas and Power Regulatory Advice

We are advising RWE Supply and Trading in relation to regulatory matters pertaining to the licensing of their power and gas trade activities in Greece.Solarmacht Development of PV Park and Acquisition of Project Companies

Solarmacht Development of PV Park and Acquisition of Project Companies

We are acting for Solarmacht (North Star Group), a Greek project developer, in connection with the development of PV parks in Northern Greece and the contemplated acquisition of a number of project companies operating PV parks in various areas of Greece.

River Strymon 2MW Hydropower Plant

We acted for the sponsors in connection with the development of a 2MW hydropower plant in river Strymon in Northern Greece on the financing by the National Bank of Greece SA (NBG Greece) acting as bondholder agent and bondholder and NBG Bank Malta Ltd (NBG Malta) acting as bondholder, by way of two €3,65m bond loans. The transaction also included c.€3m intra-group financing. Under a Chinese Walls arrangement, we also represented the project’s financiers. Our scope of work included advice on the project and finance documentation.

Trans Adriatic Pipeline AG (TAP) Project

We advised together with Clifford Chance, a consortium of international financing institutions including the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) on the project financing of TAP’s development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca, under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe, Enagas Internacional, SLU and Axpo Trading.

China Three Gorges Acquisition of EDP Energias de Portugal

We acted for China Three Gorges, a Chinese State owned power company, in the acquisition of EDP Energias de Portugal, which operates, through EDP Renovaveis, a number of wind parks in Livadi and Aerorachi.

Mitsubishi Hitachi Power Steam Electric Unit Project

We advised Mitsubishi Hitachi Power with respect to their involvement in a project run by the Public Power Corporation (PPC) for the design, supply, installation and putting into operation of a steam electric unit in Ptolemaida.

International Licensing Round for the Exploration and Exploitation of Hydrocarbons – Offshore Greece

We advised Hellenic Petroleum, acting either alone or as a member of a consortium with other international oil majors, in its participation in the tender processes launched by the Hellenic Republic (Ministry of Energy) and the Hellenic Hydrocarbon Resources Management Company with respect to Offshore Blocks in certain areas in Greece.

Open Door Tenders for the Lease of Hydrocarbons Exploration and Production Rights

We advised the Hellenic Republic (Ministry of Environment, Energy & Climate Change) in their open door tenders for the lease of hydrocarbons exploration and production rights in Ioannina, West Patraikos Gulf and Katakolo, all in Western Greece.

€70m PPP for Integrated Waste Management Projects for the Ilia Region

We advised the National Bank of Greece, Alpha Bank and JESSICA as the lenders to the winning consortium of the c€70m project for the design, finance, installation, operation and maintenance of integrated waste management systems for the Ilia region through a public private partnership.

€70m PPP for Integrated Waste Management Projects for Serres

We advised a consortium comprised of Archirodon Group NV, Intrakat Constructions SA and Envitec SA on the developing and financing of a c€70m project for the design, finance, installation, operation and maintenance of integrated waste management systems for Serres through public private partnerships.

Elia and IFM Participation in IPTO Tender

We advised a consortium comprised of Elia, Belgium’s electricity transmission operator, and IFM Investors, in their participation in the contemplated tender procedure, subsequently aborted, conducted by the Public Power Corporation (PPC) for the acquisition of 66% of the Independent Power Transmission System Operator (IPTO).

Hellenic Petroleum Sale of Stake in DEPA and DESFA

We advised Hellenic Petroleum in the proposed sale of its stake in the Public Gas Corporation (DEPA) and Natural Gas Transmission System Operator (DESFA), along with the stake held by the Hellenic Republic Asset Development Fund (HRADF) as part of the privatization of DEPA Group.

Babcock Agreement with Metka for Steam Electric Station

We advised Babcock Borsig Steinmüller, a subsidiary of Bilfinger, in concluding the main sub-contract agreement with METKA, which has been awarded the retrofit of the boilers of certain units in the lignite-fired Steam Electric Station of Aghios Dimitrios situated in Northern Greece, owned and operated by the Public Power Corporation (PPC).

Bpifrance Investissement Wind Farms & PV Power Parks Projects

We acted for Bpifrance Investissement in connection with the due diligence review pertaining to the purchase of a minority stake of EREN Renewable Energy which owns renewable assets in Greece and other countries.

Korinthos Power Development

We advised Korinthos Power, a joint venture of the Mytilineos Group and Motor Oil Hellas, in its financing of the development of a 437MW thermal power station in Corinth.

c€105m Loan Refinancing for 444 MW CCGT Power Plant

We acted for Protergia in the refinancing by its parent company, the Mytilineos Group, of the 444 MW CCGT power plant operated by Protergia in Viotia.

Peloponnese Waste Management Systems

We represented a consortium comprised of Archirodon Group, Intrakat Constructions and Envitec in its participation in public tenders for the proposed project for the design, financing, installation, operation and maintenance of integrated waste management systems for the Peloponnese through a public private partnership.

National Bank of Greece Fuel Hydrant System Financing

We advised National Bank of Greece SA (NBG)on the financing of the Fuel Hydrant System at Larnaka International Airport.