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News and awards

News and awards

Clifford Chance wins Renewables Legal Adviser of the Year Award

22 April 2013

Clifford Chance wins Renewables Legal Adviser of the Year Award

International law firm Clifford Chance has been named Legal Adviser of the Year for Renewables at the Infrastructure Journal (IJ) Awards 2013. The IJ Awards have been recognising innovation and creativity in financing infrastructure as well as celebrating pioneering work and key achievements in the sector since 2000.

Jeremy Connick, Partner and Co-head of the Global Power Group at Clifford Chance, says: "This award is recognition of our top-tier capability to advise clients in the renewables sector across the globe and help them keep pace with market and regulatory developments. We are delighted to have been recognised for our commitment to our clients' success and achievements in this sector."

The firm has worked on some of the biggest renewables deals globally in the past year, ranging from participating in a significant number of the successful Round 1 REIPPP deals in South Africa, to  advising the lenders on the US$693 million financing of a 396MW Mareña Renovables wind farm in the state of Oaxaca, Mexico, and acting for the borrowers on the limited recourse financing of a 24.8% stake in the Walney I & II offshore wind farms in the UK.

Clifford Chance was also involved in three transactions that won Deal of the Year at the IJ Awards:

  • Deal of the Year – Power: Azito Gas-fired Power Plant Expansion (Côte d'Ivoire)

Advised the lenders in relation to the signing of the finance documents for the third phase of the Azito Thermal Plant (Azito Phase 3). This large-scale project, involving almost US$450 million of direct foreign investment, will enable the generation of an additional 1,000 GWh/year of electricity, without additional gas use or increased greenhouse gas emissions (due to the use of combined-cycle technology)

  • Deal of the Year – Transport: Eurasia Tunnel PPP (Bosphorus Tunnel, Turkey)

Advising export credit agencies on the Bosphorus Tunnel Build-Operate-Transfer (BOT) transaction, a long-awaited greenfield infrastructure project. The landmark project includes the building and operating under a 30-year concession agreement of the Eurasia Tunnel, built along a 15km route.

  • Acquisition of the Year – Energy: Open Grid Europe (Germany)

Advised the banks funding Macquarie's €3.2 billion acquisition of Open Grid Europe which is a German gas distribution business sold by EON.

Clifford Chance has also topped Infrastructure Journal's global project finance league table with a worldwide deal value of US$36 billion in 2012.