Solar Power
A Practical Handbook
Published: 2018
Pages: 395
eBook: 9781787421349
This provides a practical guide to developing, financing, acquiring and disposing of solar power projects. Whilst being a technology which has been adopted on a global basis, each jurisdiction has its own dynamics, so the book considers the market-specific aspects of solar power in a number of key locations including China, Japan, the US and others
The solar power market’s dynamism is matched by its complexity. As well as advances in technology and manufacturing processes, and variations in how the technology is deployed, the regulatory and fiscal policies adopted in individual countries can vary widely. However, some common themes have emerged and the potential for further growth in solar power can perhaps be better discerned now than when the market was in its infancy.
Solar Power: A Practical Handbook provides an in-depth analysis of various aspects of solar power including its commercial, technological and regulatory characteristics. It also provides a practical guide to developing, financing, acquiring and disposing of solar power projects. Whilst being a technology which has been adopted on a global basis, each jurisdiction has its own dynamics, so the book considers the market-specific aspects of solar power in a number of key locations including China, Japan, the US and others. The book concludes with a look at the future of solar power; its place alongside distributed generation, smart grids and power storage and the technologies, opportunities and challenges for the future.
This book, featuring chapters by leading practitioners, will be of interest to lawyers, commercial managers, financiers and other consultants.
Table of Contents
Cover | 1 | |
---|---|---|
Title | 2 | |
Copyright | 3 | |
Table of contents | 4 | |
Preface | 8 | |
Introduction | 10 | |
Legal, regulatory and industry frameworks | 14 | |
Solar power technologies and how they work | 32 | |
Economic drivers: support mechanisms, technology pricing, and other market dynamics | 54 | |
The anatomy of a solar power project | 66 | |
Real estate | 80 | |
The project agreements | 96 | |
Securing project revenues – the route to market and monetisation of generation | 106 | |
Financing perspectives | 120 | |
M&A and corporate structuring | 140 | |
Algeria | 166 | |
Brazil | 180 | |
China | 194 | |
France | 206 | |
Germany | 216 | |
India | 226 | |
Italy | 244 | |
Japan | 258 | |
Middle East | 270 | |
Morocco | 286 | |
South Africa | 298 | |
Spain | 312 | |
United Kingdom | 330 | |
United States: California | 340 | |
United States: Texas | 362 | |
The future for solar power | 374 | |
About the authors | 386 | |
About Globe Law and Business | 398 |
Elena Aldave
Associate, Pérez-Llorca
[email protected]
Elena Aldave Yániz is the current associate at Pérez-Llorca’s London office. Elena joined Pérez- Llorca in 2015 and specialises in corporate and commercial law. Elena advises national and international clients on all types of corporate transactions, especially on corporate restructurings, mergers and acquisitions. Apart from Spanish which is her native tongue she is fluent in English and French.
Dario Bertagna
Vice president, Capital Dynamics
[email protected]
Dario Bertagna is a renewables and solar energy expert having spent most of his career developing and advising funds investing in renewables, clean infrastructure and energy assets. He is currently a vice president in the clean energy infrastructure team at Capital Dynamics in London. Prior to joining Capital Dynamics, Dario held investment management positions at Bluefield Partners LLP and at Platina Partners where he worked across multiple renewable energy transactions and project financings in the United Kingdom and Europe. His previous experience also includes roles at the international energy developer MedEnergy and in the Energy Corporate Finance team at Jefferies International. Dario holds a BA in Economics and International Trades from the University of Turin and a Masters in European Business from ESCP Europe.
Elisabeth Blunsdon
Of counsel, Orrick, Herrington & Sutcliffe LLP
[email protected]
Lis Blunsdon is an English qualified solicitor with more than 20 years’ experience in the electricity sector. She has acted for developers, utilities, lenders and governments in negotiating power offtake agreements for facilities deploying a diverse range of power technologies. In recent years she has been heavily involved in the UK renewables sector with a particular focus on solar.
Foued Bourabiat
Founder, Bourabiat Asssociés
[email protected]
A graduate of King’s College London (LLM) and the University Paris 1 Panthéon-Sorbonne (postgraduate degree in English and American business law), Foued Bourabiat worked for top-tier law firms in Paris (Hogan Lovells LLP and Herbert Smith Freehills LLP) for almost 10 years before founding Bourabiat Associés in 2012. He has succeeded in establishing his firm as the go-to firm for complex transactions in Algeria. He is recognised by all the major international legal guides as a leading lawyer in Algeria. His experience includes assisting and advising major investors and credit institutions in respect of investments and financings in the MENA region, including in Algeria. He has been involved in complex cross-border financing transactions and cutting-edge project finance deals, notably in the energy sector. He is a member of the committee of experts in charge of assisting and advising the Ministry of Environment and Renewable Energy on the legal reforms relating to the renewable energy sector.
Keith Bullen
Partner, DLA Piper
[email protected]
Keith Bullen is an English-qualified solicitor and a partner in DLA Piper’s projects and finance group. Keith has been active in the Middle East project finance sector for nearly a decade and has worked on many of the region’s largest utilities projects. He has a strong track record in advising procurers and offtakers. In Saudi Arabia alone he has advised on more than 10 GW of power projects.
Keith has advised multiple procurers on the structuring of their first solar PV, CSP and wind projects. Converting conventional IPP models to suit the requirements of renewable energy and unbundled utility markets has been a significant portion of Keith’s workload in recent years. These government mandates give Keith a detailed insight into energy policy and regulatory change. Keith has also advised on projects outside of public procurement frameworks, including captive power projects and solar PV systems under net metering schemes.
Alberto Cuellar
Senior renewable energy consultant – solar, Mott Macdonald
[email protected]
Alberto Cuellar is an MSc qualified Industrial Engineer with a MSc in Renewable Energy and international education in Spain, the United States and Germany. Alberto has in-depth technical expertise with over eight years’ international experience as project engineer and project manager in the solar industry both in Concentrating Solar Power (CSP) and Photovoltaic (PV) projects advising developers, investors and banks. He has worked in a wide range of roles across different project development stages from techno-economical feasibility to detailed engineering and construction and operation monitoring.
John Deacon
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
John is a partner in the Energy and Infrasturcture team at Orrick. With over 30 years’ experience in the preparation and negotiation of the contracts for design, procurement, construction and operation of energy projects, John has been recognised for many years by Chambers Directory as a “Leading Individual” for renewable energy. John has worked on renewable energy projects across Europe, Africa, Asia and the Americas. John holds a Bachelor of Laws degree and a Master of Science degree from the department of engineering at King’s College London.
William Evans
Partner, Elgar Middleton Infrastructure & Energy Finance LLP
[email protected]
William Evans is a partner in Elgar Middleton’s London office. He specialises in infrastructure and renewable energy with 17 years’ experience from projects across the United Kingdom and Ireland. William leads each and every transaction he works on. This includes sell-side, buy-side and debt financing mandates acting for investors, major corporates and developers. In renewable energy, William has worked on solar, wind, anaerobic digestion and biomass projects. While in infrastructure, he has worked on PPP/PFI, transport and student accommodation.
Elgar Middleton was founded in 2012 with a specific goal to act as an independent financial advisory boutique for its clients. The partnership has offices in London and Sydney and has advised on over 50 discrete renewable energy projects in the past four years enabling its clients to raise over $US3 billion of capital in that period.
Niklas Ganssauge
Partner, CMS Germany
[email protected]
Niklas Ganssauge joined CMS in 2005 and became a partner in 2012. He is a member of the energy law group of CMS Germany and has special expertise in the field of renewable energy. Niklas advises project developers, plant manufacturers, investors and banks on the planning, construction, acquisition and financing of wind and solar farms in Germany and abroad. He has special expertise in drafting and negotiating EPC, supply, maintenance and service agreements as well as construction contracts. His practice also covers all real estate law aspects of energy projects as well as advising on M&A transactions in the energy industry. Niklas is a lecturer at the Frankfurt School of Finance and Management (renewable energy finance) and at the Bucerius Law School (international construction agreements).
Nasif Hamed
Associate, Pérez-Llorca
[email protected]
Nasif Hamed joined Pérez-Llorca in 2014, after having practised law at Vector Cuatro for two and a half years. Prior to his experience there, he was a trainee lawyer at Clifford Chance (Spain). Nasif specialises in corporate and commercial law. His main practice covers mergers and acquisitions, as well as corporate restructuring, including share capital increase and decrease. In addition, Nasif has advised on national and crossborder transactions related to investment and divestment in infrastructure projects and renewable energy projects.
Nasif lectures for the courses on Corporate Law at Universidad Carlos III (Madrid) and also at Universidad Pontificia Comillas ICAI-ICADE.
Mona Hammadi
Associate, DLA Piper
[email protected]
Mona Hammadi is an English-qualified solicitor. She is a Bahraini national holding both undergraduate and post-graduate degrees from UK universities. She is a member of DLA Piper’s projects and finance group. Mona has practised in the region for more than eight years. She has worked on IPP, IWP and IWPP procurements and financings throughout the region and has particular expertise in Saudi Arabia. As the regional focus has shifted from conventional power to renewables, she has been actively involved in advising procurers on a number of ‘first’ renewables public procurements and initiatives in the region.
While Mona’s practice has primarily focused on public procurement and project finance in the utilities sector, she also advises on infrastructure, PPP projects and a broad range of banking and finance transactions. Clients in those transactions include international and regional financial institutions, corporates, sponsors and developers.
Munir Hassan
Head of clean energy, CMS Cameron McKenna Nabarro Olswang LLP
[email protected]
Munir Hassan is head of clean energy at CMS in London, helping to determine the firm’s strategy on renewables and clean generation. Munir has over 20 years of experience advising the power sector on commercial arrangements, M&A transactions, electricity sector restructurings and reforms, price-regulated energy networks, regional trading arrangements, establishment of regulatory frameworks and wholesale/retail supply arrangements. He has advised on technologies across the power space, including on offshore and onshore wind, solar, tidal, biomass, energy from waste, tidal and tidal lagoon, wave power, CCGT and CHP, coal-fired projects, electricity transmission networks and electricity distribution networks. He has advised extensively on both the sector in the United Kingdom and power projects and market reforms across numerous jurisdictions around the world.
Brian Hegarty
Partner, Ashfords LLP
[email protected]
Brian Hegarty, a partner at Ashfords LLP since 1997, has 32 years’ experience as a commercial property lawyer and has specialised in the energy sector for the last 15 years. His team advises UK PLCs and private companies on solar projects from site acquisition, planning financing and development through to operation refinancing and sale. Brian and his team have a reputation for delivering insightful and commercial solutions tailored to their clients in the energy sector and particularly solar projects. He has a clear understanding of his clients’ markets. Brian’s clients say that he understands their challenges and their sectors – and his focus is on finding solutions and getting the results they want.
Maya Ito
Partner, Nishimura & Asahi
[email protected]
Maya Ito is a partner at Nishimura & Asahi and works mainly in the area of cross-border project finance, as well as energy projects, transactions and regulations. She joined the firm in 2002 after graduating from Keio University (LLB) in 1999 and attending the Legal Training and Research Institute of the Supreme Court of Japan. She graduated from Columbia University School of Law (LLM) in 2007. Since then she has gained extensive experience in energy projects, project finance, structured finance, international finance and general corporate law, advising a range of clients, including multinational corporations, commercial banks, multilateral financing institutions, project developers and sponsors, and other parties on a range of international and crossborder matters.
Giji M John
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
Giji M John is a partner in the Houston, Texas office of Orrick, Herrington & Sutcliffe LLP. Mr John focuses on the development and financing of wind energy and solar energy projects in addition to other energy assets. He has been involved in virtually every aspect of the project development process, including initial real estate acquisition, long-term power offtake negotiations, engineering, procurement and construction negotiations to and through debt and equity financing and operations. He has particular expertise in the negotiation of long-term power offtake agreements, including physical power purchase agreements and financially settled transactions under the ISDA, EEI, WSPP and NAESB trading forms and other bespoke arrangements. Mr John has been ranked in Chambers Global, Chambers USA, Legal 500 US and Law 360.
James Larmuth
Renewable energy consultant – solar, Mott Macdonald
[email protected]
James Larmuth has diverse project experience in technical design and advisory services for concentrated solar power (CSP) and photovoltaic (PV) projects across Sub-Saharan Africa. While his current focus in construction and operations monitoring of CSP projects across South Africa, his earlier experience includes research, design and construction of a South African developed CSP technology, with special focus on heliostat development.
Lynia Lau
Partner, Ernst & Young
[email protected]
Lynia Lau has more than 20 years’ experience in advising large-scale state-owned enterprises in the development, acquisitions, government regulations, sales and purchases, finances and operations of large-scale infrastructure projects. She specialises in LNG, oil & gas, power, refinery, highway, tunnel, bridge, terminal and other public utilities.
She is the chief lawyer leading a consortium of four law firms advising the governments of Hong Kong, Macau and Guangdong Province on the Hong Kong–Zhuhai–Macau Bridge project. Lynia is the visiting professor of HK Financial Services Institute and HK WEN WEI Management College and a contributing editor for the monthly journal IELR Regional Developments published by Sweet & Maxwell.
Lynia is fluent in English, Mandarin, Cantonese, French and Japanese.
Sadayuki Matsudaira
Counsel, Nishimura & Asahi
[email protected]
Sadayuki Matsudaira is a counsel at Nishimura & Asahi and works mainly in the area of energy projects, transactions and regulations, as well as M&As and joint ventures. He joined the firm in 2002 after graduating from the University of Tokyo (LLB) in 2001 and attending the Legal Training and Research Institute of the Supreme Court of Japan. He graduated from the University of Michigan (LLM) in 2011. He is admitted to practise in Japan (since 2002) as well as in the state of New York (since 2012). Mr Matsudaira obtained the Energy and Resources Deal of the Year in ALB Japan Law Awards 2016. Since 2016, he is the Regional Vice Chair, Asia Pacific of the Energy Group of Lex Mundi.
Simon Middleton
Partner, Elgar Middleton Infrastructure & Energy Finance LLP
[email protected]
Simon Middleton is a partner in Elgar Middleton’s London office. He specialises in renewable energy and power with 25 years’ experience from projects across Europe, Africa, the Americas, Asia and Australasia. Simon has worked on the equity buy and sell side, debt advisory and lending during his career.
In renewable energy, Simon has worked on solar, wind (onshore and offshore) biomass, anaerobic digestion and battery storage projects. He also has extensive experience of coal, gas and peaker power plants.
Elgar Middleton was founded in 2012 with a specific goal to act as an independent financial advisory boutique for its clients. The partnership has offices in London and Sydney and has advised on over 50 discrete renewable energy projects in the past four years enabling its clients to raise over $US3 billion of capital.
Ghalia Mokhtari
Avocat à la Cour, Mokhtari Avocats
[email protected]
Ghalia Mokhtari is a specialist in projects and banking law with expertise in the energy, infrastructure and real estate sectors. She regularly advises borrowers, financial institutions, funds, energy companies, corporations and governments on a range of transactions, including projects, public-private partnerships (PPPs), acquisitions, construction issues and general Moroccan regulation matters.
Before founding Mokhtari Avocats, Ghalia worked with the real estate and project finance teams of Linklaters in Paris before heading the projects and financing team of an independent North African law firm in Casablanca. She has also worked for major energy developers, investors and financial institutions in Europe and Africa. Ghalia regularly publishes articles on the energy sector for legal journals and teaches project finance and business law at a leading business school in Casablanca.
Carlo Montella
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
Carlo Montella is a partner at Orrick and Deputy Business Unit Leader of the Energy and Infrastructure practice.
Carlo is a transactional lawyer with extensive experience in project development, asset acquisitions and financings in the energy and infrastructure sectors. He has strong expertise and consolidated background in assisting international sponsors, multinational energy companies, large private equity funds, project developers, borrowers and debt issuers, investment banks and other capital providers and investors who value his contribution thanks to his vast experience, practical know how and willingness to go the extra mile for his client. Carlo regularly advises on energy sectors mergers, acquisitions, joint ventures, development, structuring and financing of large-scale energy and infrastructure projects, both in Italy and internationally (including UK and Eastern European countries).
Carlo has a significant experience in the electric power sector, wind, solar, biomass, geothermal and other renewable energy projects and has also represented clients in transactions involving electric power and natural gas transmission. He has advised clients on the most large-scale, complex and high profile energy transactions in the Italian market and his clients are among the most active energy developers and investors in the market.
Carlo is Leading Individual in “Energy, Italy” for Chambers Europe 2018, won the “Energy Law Firm of the Year” award at the Legalcommunity Energy Awards 2018 and the “Lawyer of the Year Renewables” award at the Legalcommunity Energy Awards 2017. The Italian Energy practice is ranked in band 2 in the Legal 500 EMEA 2017 guide.
Jose Muñoz
Senior renewable energy consultant – solar, Mott Macdonald
[email protected]
Jose Muñoz is a MSc qualified engineer with over ten years experience in the solar photovoltaic (PV) industry, having worked in a wide range of roles in the solar sector, from research and development up to consultancy but also including construction monitoring of PV plants, Operation & Maintenance activities and training programmes. While in the past his specialisation lay in the characterisation and analysis of PV systems and components (including different PV modules technologies), currently he performs advisory services acting as Project Manager for PV projects developed across the globe, including due diligence and construction monitoring works.
Urias Martiniano Garcia Neto
Partner, Tomanik Pompeu (in association with LRNG Law Firm)
[email protected]
Urias Martiniano Garcia Neto is a partner of Tomanik Pompeu. He holds a degree in law and postgraduate studies in civil procedure law, infrastructure contracts and energy law. His fields of practice focus on energy regulation and infrastructure projects, with an emphasis on advisory, strategic litigation in the judicial and arbitration spheres in the Brazilian electric sector. Urias started his career in the energy sector in the Brazilian Chamber of Electric Energy Commercialisation (CCEE), where he worked for several years, before dedicating himself to private practice at Tomanik Pompeu, working in association with LRNG – Landi, Rodrigues, Nakano e Giovannetti Advogados in Sao Paulo. Urias is also a member of the Energy Law Commission of the Brazilian Bar Association and author of several articles on the electric energy sector.
Tilman Lorenz Petersen
Associate, CMS Germany
[email protected]
Tilman Lorenz Petersen joined CMS in 2016. Tilman is a member of the energy law group of CMS Germany. Tilman is primarily involved in advising clients on the development, construction, financing and operation of renewable energy projects.
Tilman advises project developers, plant manufacturers, investors and banks focusing on renewable energy projects in and beyond Germany. He has special expertise in drafting all relevant contracts in this respect and in handling claims under FIDIC-based contracts.
Ricardo Pineiro
Partner, Foresight Group
[email protected]
Ricardo is a partner at Foresight Group and has led the firm’s solar investments in the UK since joining in 2011, having overseen the acquisition of over 60 solar power plants totalling more than 800MW.
Ricardo acts as fund manager for the Foresight Solar Fund Limited, a close-end investment company listed in the London Stock Exchange since 2013 and investing in a diversified portfolio of large-scale solar assets in the UK and in Australia.
Before joining Foresight Group, he spent four years in the project finance division at Espirito Santo Investment, with a special focus on transport, energy and oil and gas.
Fernando Quicios
Partner, Pérez-Llorca
[email protected]
Fernando Quicios is the current resident partner at Pérez-Llorca’s London office, where he regularly advises funds, financial entities and companies on their investments and divestments in Spain. Fernando has advised sponsors, suppliers of equipment, civil works suppliers and providers of finance in various transactions in the renewables fields (mainly solar, thermosolar and wind) both in Spain and in other Southern European and Latin American jurisdictions. Fernando has also advised in the restructuring of the indebtedness of energy projects, both in Spain and abroad.
Fernando is an officer of the Insolvency Committee at the International Bar Association, and is recommended by a number of directories (Chambers and Partners, Legal 500, etc).
Rajen Ranchhoojee
Special legal consultant, Orrick, Herrington & Sutcliffe LLP
[email protected]
Rajen Ranchhoojee is admitted to practice in South Africa and registered as a special legal consultant with the Washington DC Bar. He specialises in cross-border projects and transactions, with particular expertise in energy and infrastructure projects in Africa. Rajen advises governments, Fortune 500 companies, state utilities, private equity firms, donor funding institutions as well as leading local and international companies with interests. Rajen has advised on over 50 renewable energy projects in Africa, predominantly in South Africa, acting as project counsel, sponsor counsel, contractor’s counsel and lenders’ legal adviser.
His Africa-specific experience spans over 14 countries and includes the Democratic Republic of Congo, Ghana, Kenya, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Reunion, South Africa, Tanzania, Uganda, Zambia and Zimbabwe. He has been recognised by Chambers Global as a leading South African lawyer for Projects & Energy.
João Ribeiro da Costa
Partner, LRNG Law Firm (in association with Tomanik Pompeu)
[email protected]
João Ribeiro da Costa is a partner at LRNG – Landi, Rodrigues, Nakano e Giovannetti Advogados in São Paulo. He holds a degree in law and postgraduate studies in capital markets. João worked in leading law firms in Portugal and Brazil, focusing his practices mainly in corporate issues, M&A transactions, capital markets and regulatory issues, especially multinational deals. In particular, he has advised foreign investors on a number of transactions in Brazil in a variety of sectors, including energy, engineering and industrial activities, construction, financial services and IT. In addition, he has been involved in a number of transactions for Brazilian companies accessing international capital markets. He also has experience as managing director of a multinational group with a business in Brazil. João is a member of the Portuguese and Brazilian Bars and the Portuguese and Spanish Chambers of Commerce.
George Rigo
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
George Rigo is an M&A lawyer, based in Orrick’s Paris office. Specialising in corporate law, he is devoted to advising European and Asian industrial groups and holding companies on their mergers, acquisitions and joint ventures, notably in the energy, food and car manufacturing sectors and services.
George has very strong expertise in the renewable energy sector, working alongside major players in the market and advising on key projects in France. He mainly advises on the financing and acquisition of windfarm and solar projects and lately he has counselled 123 Ventures, Impax, Nord LB, Platina Partners, EOS Holding and ERG on different transactions.
George’s extensive experience on cross-border transactions includes negotiating and drafting international contracts or commercial partnerships with an emphasis on litigation issues succeeding the implementation of such agreements.
Anthony Riley
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
Anthony Riley is a partner at Orrick, Herrington & Sutcliffe (UK) LLP. He advises on M&A transactions across the renewable energy sector with a particular focus on solar projects. In the UK market he has advised on the acquisition of consented and operational projects for a range of private and listed funds. Over the course of the last five years he has advised more than 20 buyers and sellers of solar projects located throughout the United Kingdom with a combined installed capacity of well in excess of 1 GW. He is also currently advising in connection with the acquisition of solar projects across Europe, Africa, the United States, Latin America and Australia.
Edward Rivera
Foreign attorney, Nishimura & Asahi
[email protected]
Edward Rivera is a foreign attorney at Nishimura & Asahi and works mainly in the area of crossborder project finance. His practice is currently focused on solar projects and construction projects. He joined the firm in 2017 having graduated from Columbia Law School (JD) and Johns Hopkins SAIS (MA). He is a registered member of the New York Bar.
Wagner Silva Rodrigues
Partner, LRNG Law Firm (in association with Tomanik Pompeu)
[email protected]
Wagner Silva Rodrigues is one of the partners in charge of the tax department of LRNG – Landi, Rodrigues, Nakano e Giovannetti Advogados. He holds a degree in law and postgraduate studies in tax law, applied economics, controlling and finance. His fields of practice include tax advising and tax litigation, with a focus on energy and infrastructure projects.
Wagner started his career in one of Brazil’s leading firms, where he worked for several years, before dedicating himself to LRNG Law Firm, of which he is one of the founding partners. Wagner led the firm’s legal team in many leading tax disputes in Brazil, mainly involving renewable energy.
Wagner is also a member of the Tax Law Brazilian Institute (Instituto Brasileiro de Direito Tributário – IBDT).
Andrew Sawbridge
Trainee solicitor, CMS Cameron McKenna Nabarro Olswang LLP
[email protected]
Andrew Sawbridge is a trainee solicitor at CMS in London, practising in the firm’s Energy, Projects and Construction department. Andrew has acted on a range of renewable power projects in Europe, including advising on offshore wind, solar and battery storage projects. Andrew also has experience in contentious matters having acted on a number of judicial reviews, an appeal to the Competition and Markets Authority and other commercial litigation with a focus on energy matters.
Abhishek Saxena
Partner, Phoenix Legal
[email protected]
Abhishek Saxena is a co-founding partner based at the New Delhi office of Phoenix Legal, a fullservice law firm with offices in New Delhi, Mumbai and Chennai.
Abhishek focuses on cross-border deals and has advised on a number of complex and prestigious projects in diverse sectors such as financial services, IT, industrial, oil and gas, power, automotive, infrastructure, manufacturing, retail, hospitality and aviation. His practice includes corporate transactional work including joint ventures and M&A, projects (including solar power), structuring and tax advisory, foreign investment and regulation, bankruptcy. He represents large and reputed Indian companies, foreign investors and multinational corporations (including Fortune 100 companies) in various sectors.
Abhishek’s services have been widely recognised and he has been regularly recommended as a leading lawyer for business by various international legal publications including Chambers & Partners (Global and Asia Pacific), Legal 500, IFLR 1000, Who’s Who Legal and Asialaw. Abhishek was listed by Asian Legal Business as one of “ALB’s Hot 100” listing the best legal minds in Asia. He has also been included in “The A-List – India’s leading 100 lawyers 2016” published by Indian Business Law Journal.
Nathan Schmidt
Counsel, Nishimura & Asahi
[email protected]
Nathan Schmidt is a counsel at Nishimura & Asahi and has extensive experience representing developers, lenders and EPC companies in connection with the development of Japanese solar PV projects as well as other renewable energy projects. Mr Schmidt also represents lenders and borrowers in a broad range of banking and finance matters, including real estate financings, leveraged financings, restructurings, project financings and structured finance transactions. He graduated from Duke University School of Law (JD/LLM) in 2003 and practised in New York City with a focus on structured finance transactions until he joined Nishimura & Asahi in 2008.
David Spielberg
Partner, Orrick, Herrington & Sutcliffe LLP
[email protected]
David Spielberg is a partner in the energy and infrastructure group in Orrick’s San Francisco office. He has over 35 years of experience in energy transactions of all types, including all stages of project acquisition and disposition, development, construction and financing, and has been involved in the solar energy industry since the 1990s. He has represented clients in connection with the development, construction and financing of thousands of megawatts of solar energy projects all over the United States, including some of the earliest and largest solar energy projects in California. His practice covers all types of renewable energy, including wind, geothermal and biomass projects, in addition to solar energy projects. He is a graduate of the Massachusetts Institute of Technology (electrical engineering) and Stanford Law School.
Ting Su
Senior legal manager, Ernst & Young
[email protected]
Ting Su is in the energy and infrastructure projects team. She has advised on projects, M&A and project finance matters, in particular the LNG projects including gas sales contracts, LNG sales and purchase agreements, terminal use agreements, and EPC for LNG import terminals, gas pipeline, power station, tunnel and highwayrelated projects and joint ventures.
Ting has also provided general advice in the large-scale energy and infrastructure projects, assisting the PRC state-owned enterprises in outbound investments, financial structuring, project operation and maintaining arrangements. She has also advised several PRC state-owned enterprises and the PRC banks in their overseas litigation and disputes, in particular the debt collections and enforcement of foreign judgments. Ting has got double degrees in law and English and is a contributor to the International Energy Law Review published by Sweet & Maxwell.
Oscar Velasco
Senior renewable energy consultant – solar, Mott Macdonald
[email protected]
Oscar Velasco has 11 years’ experience related to photovoltaic grid-connected, off-grid and hybrid projects. His expertise includes wide knowledge of the components such as PV modules, PV inverters, Battery inverters, Energy Management system (EMS), Batteries, Diesel Generators, as well as the project design, construction, operation & maintenance and due diligence advisory. He has international experience through having been involved in projects worldwide in countries including Spain, Kenya, Ghana, Mozambique, Nigeria, Brazil and Nicaragua.
Dan Wells
Partner, Foresight Group
[email protected]
Dan Wells is a partner at Foresight Group and has responsibility for the firm’s European and US new energy infrastructure activities. Dan has 17 years of experience and has worked in sustainabilitydriven investment management strategies in Europe, North America and Asia. He has written on the topic in publications including the Financial Times.
Prior to Foresight, Dan worked at Sindicatum, a dedicated clean energy investing firm, from 2007 to 2012. At Sindicatum he initially focused on raising c.$300 million of primarily US institutional capital before overseeing the fund deployment in South East Asia, China and India. Between 2000 and 2007 Dan worked for EY advising clients, primarily in energy-related themes. Dan is a Chartered Accountant; he holds an MSc in Sustainable Leadership from CSEM (distinction) and a BA in Modern History from the University of Bristol.
Belén Wert
Associate, Pérez-Llorca
[email protected]
Belén Wert joined Pérez-Llorca in September 2017 after having worked for a year and a half in Administrative Law. She advised Spanish and foreign clients on all matters related to energy law. Belén specialises in administrative law. She mainly advises on energy and regulated sectors. In 2010 Belén finished her degree in law at Universidad CEU San Pablo and she prepared for the competitive state exams for State Advocate until 2016. She works in Spanish, English and Italian.
Matthew Williams
Partner and co-head of Power Sector Practice, Orrick, Herrington & Sutcliffe LLP
[email protected]
Matthew Williams is co-head of Orrick’s Power Sector Practice and a member of the firm’s Global Advisory Board. His practice focuses on transactional and regulatory work in the energy sector with extensive experience on project finance, M&A, commodity trading and general commercial matters. Matthew has established a market leading power sector M&A practice and over the last 20 years has represented parties involved in multiple acquisitions and disposals of conventional and renewable power assets in the UK, Europe and Africa. He has a particular interest in the intersection between new technology and the energy markets. He acts for a broad range of clients including independent power project developers, utilities, infrastructure funds, investment banks and private trading houses. Chambers UK and Legal 500 recognise Matthew as a leading individual in his field. Matthew holds an MA in Jurisprudence from Oxford University and was formerly an in-house lawyer with the international power project development team at National Power plc.
Yolanda Yong
Senior associate, Orrick, Herrington & Sutcliffe LLP
[email protected]
Yolanda Yong is a senior associate at Orrick, Herrington & Sutcliffe (UK) LLP. She has worked on renewable energy projects including offshore wind projects, energy from waste, biomass and solar energy projects for lenders, contractors, developers and investors. Yolanda advises on M&A transactions and project documents across the renewable energy sector with a particular focus on solar. She has acted for a number of the leading solar yieldcos and investment funds in the United Kingdom on the acquisition and sale of numerous development and operational projects. Yolanda holds a BA in Law from the University of Cambridge.