Energy and Infrastructure Team of the Year
This category is aimed at advisers focused on either the energy and natural resources sector or those advising on high-stakes infrastructure, including major transport projects. Although we will be accepting submissions covering corporate and finance matters, as well as contentious work, it is not the size of the deal that counts but the industry knowledge behind it.
Acting for UK Power Networks and the UK Government to forward fund Ebbsfleet Garden City. The deal represents a pathfinder template for stalled UK projects and deals with the traditional regulatory restrictions that hinder electricity network operators from passing on the capital cost of infrastructure expenses ahead of need.
Bircham Dyson Bell - HIGHLY COMMENDED
Acting for National Grid on securing consent for
the development of a 400kV electricity transmission connection between Richborough and Canterbury. This was the first significant national infrastructure project to comply with the TEN-E Regulations. The engagement was made all the more challenging due to a highly technical objection from a statutory undertaker.
Advising Banks Renewables, the renewable energy division of the Banks Group, on the development and financing of a portfolio of three onshore wind farms. The project established a new financial structure that allows institutional debt to participate in the construction project through the use of commercial guarantee facilities.
Martin Stewart-Smith, Alastair Young
Representing Eni on the sale of a 10% and 30% interest in the Zohr gas field to BP and Rosneft respectively, valued at $375m and $1.12bn. Bracewell’s work entailed establishing a key joint venture for the Zohr field that maintained Eni’s operatorship and participating interest in this marquee asset.
Advising the South London Waste Partnership on its three-stage infrastructure works programme, the largest waste service programme in Europe. For Phase C it developed a mechanism to evaluate bidders across multiple lots to maximise the benefits of competition; overall the project delivered savings of more than £200m over 25 years.
The firm has acted on 40% of successful projects in the National Grid Enhanced Frequency Response (EFR) auction, noticeably the buyer of the 20MW Broxburn energy storage plant in Scotland, one of the first large-scale energy storage projects. Reviewing the existing EFR bilateral contract, the firm created a structure to enable revenue stacking and ensure the project received investment.