Norton Rose Fulbright’s energy, infrastructure and resources practice recognized at IJGlobal Awards 2023

Global law firm Norton Rose Fulbright has been named on numerous winning deals at the IJGlobal Awards 2023.

The awards recognize the best-in-class transactions and organizations across the international energy and infrastructure industry. Entrants to the awards are judged by five separate independent panels of industry experts.

The award ceremonies are held in different cities around the world throughout March and April 2024:

• Europe and Africa in London – 7 March 2024
• Americas Awards in New York – 14 March 2024
• APAC Awards in Singapore – April 2024
• Middle East Awards in Dubai – April 2024

The IJGlobal Awards recognized the firm for its work on advising on some of the most innovative and complex energy and infrastructure projects across the globe.

Europe and Africa

Innovation of the Year: CFM - Catalysing Investment into Renewables

Led by: Chris Down, Andrew Hart, Rosa Mottershead and Mahmoud Elbanhawi

Norton Rose Fulbright advised IFC on its financing to Scatec to finance the leasing of mobile solar photovoltaic plants and battery storage equipment to a portfolio of projects in multiple Sub-Saharan African Africa countries.

Africa Power Deal of the Year: Singrobo Hydropower Plant

Led by: Simon Cudennec, Christine Ezcutari, Janet Butterworth and Dirk Trautmann

Norton Rose Fulbright advised the Singrobo-Ahouaty 44 MW hydropower project in West Africa. This project represents the first independent, hydro power production project to be developed by IHE Holding - a local sponsor in Côte d’Ivoire - alongside Africa Finance Corporation and Themis, a Denham Capital-backed company. The project, which aligns with the African Development Bank’s New Deal on Energy for Africa, will thus increase energy access for the population and the share of renewables in Côte d’Ivoire’s energy mix.

Africa Oil & Gas Deal of the Year: Cabinda Refinery, Angola

Led by: Chris Down and Madhavi Gosavi

Norton Rose Fulbright is advising Sonangol on the procurement and minority equity investment in a 30,000-bpd refinery located at Cabinda, Angola, which produces refinery products for the domestic market.

Africa Renewable Energy Deal of the Year – Wind: Castle Wind Farm

Led by: Matt Ash

Norton Rose Fulbright advised Sibanye-Stillwater in relation to the 20 year power purchase agreement to take all of the electrical energy generated by the 89MW Castle Wind Farm located near the town of De Aar in the Northern Cape province of South Africa, on a ‘wheeled’ basis. The project will allow Sibanye-Stillwater, a multinational mining and metals processing group, to reach its decarbonization goals while increasing energy security for their South African operations.

Americas

North America Renewables Deal of the Year – Onshore Wind: SunZia Wind and SunZia Transmission

Core Team: Todd Alexander, Christy Rivera, Mangesh Dhume; Ana Namaki; K. Lee Gordon, Marian Baldwin Fuerst, Bassam Chain, Tobi Amoo, Deanne Barrow, Eli Humphries, Danielle Donofrio, Will Plews-Ogan, John Desan

Norton Rose Fulbright represented the syndicate of lenders to the US$11bn debt financing of SunZia Wind and Transmission.  SunZia Transmission is a 550-mile transmission line between central New Mexico and south-central Arizona with the capacity to transport 3,000 MW of electricity. SunZia Transmission will deliver clean power generated by Pattern Energy’s 3,515 MW SunZia Wind facility, the largest wind project in the Western Hemisphere, which is being constructed across Torrance, Lincoln, and San Miguel Counties in New Mexico.

Together, the transmission line and wind facility make up the largest clean energy infrastructure project in US history.

North America Oil & Gas Deal of the Year – LNG: Rio Grande LNG

Core Team: Noam Ayali, Rebecca Abou-Chedid, Charles Hord, Marian Baldwin Fuerst, Joseph Giannini, Paul Weber, Lindsey Swiger, Tobi Amoo, Grace Choi, Danielle Donofrio, John Ngunjiri, James Lacey, Siyi Zhu, Aneeta Iqbal, Francis McCabe

Norton Rose Fulbright represented the debt providers to Houston-based energy company Next Decade Corporation's Rio Grande liquified natural gas (LNG) export terminal. With a total debt and equity financing value of US$18.4bn, the project financing is the largest single LNG project financing in the United States to date and, according to the company and other sources, is also the largest greenfield energy project financing in US history.

Phase one of the Rio Grande LNG Project, located in Brownsville, Texas, includes the construction of the first three liquefaction trains at the company’s 27 million tonnes per annum (MTPA) LNG export facility. This landmark project financing emphasizes the significant role that natural gas will continue to play in the global energy transition.

North American Transport Deal of the Year - Mass Transit: MTA Rapid Station Accessibility Program P3

Led by: Doug Buchanan and Jake Falk

Norton Rose Fulbright advised the successful proponent on the New York Metropolitan Transportation Authority’s historic US$965.2 million subway station accessibility P3 to upgrade 13 New York City stations under standards that are compliant with the American Disabilities Act. This was the first project in the MTA’s history to be awarded using the P3 model.

Latin America Water Deal of the Year – Desalination: Codelco

Led by: Charles Whitney, Chris Down, George Gibson and Marian Baldwin Fuerst

Norton Rose Fulbright advised a consortium, consisting of Marubeni Corporation and Transelec, on the development and financing of an independent water plant (IWP) in Chile. The project will supply water to three mines belonging to Chilean state-owned mining company Codelco, the offtaker, in the Antofagasta region. The reverse osmosis desalination plant will have an initial capacity of 840 litres per second with the potential for later expansion of up to 1,956 litres per second, reducing Codelco’s groundwater consumption by 60 percent.

APAC

Led by Alen Pazin

Norton Rose Fulbright advised Perth Airport on the refinancing of its secured loan facilities that were put in place in 2018 by way of new loan facilities totalling A$1,100,000,000.  The new loan facilities are provided by a syndicate of 12 domestic and foreign banks and feature an accordion facility upsize option.  The new facilities are secured under a common senior security and intercreditor arrangements under which security is shared with other senior financiers of Perth Airport – including its existing and future USPP noteholders and AMTN noteholders.  Financial close for the new syndicated loan facilities was achieved in early July 2023

PPP Deal of the Year – Power: Syrdarya II

Led by Chris Down, Nicky Davies and Charles Whitney

Norton Rose Fulbright advised the winning consortium, comprising EDF (Électricité de France), Nebras Power, Sojitz Corporation and Kyuden International Corporation, on its development and financing of the 1500 MW gas fired IPP in Uzbekistan. The work included the evaluation of project documents, negotiation with the GOU, drafting and negotiation of the EPC contract and LTSA with the gas turbine manufacturer and financing of the project.

Renewable Energy Deal of the Year – Biomass: SAEL Biomass Energy Project

Led by Nick Merritt

Norton Rose Fulbright advised Asian Development Bank (ADB) on INR 7.5bn (around US$91.14m) loan facilities to five subsidiaries of SAEL Industries Limited (SAEL Industries), one of India’s leading renewable energy companies. The funds will be used to set up biomass power plants in Rajasthan, an agricultural state in India. The financing from ADB will support SAEL Industries’ sustainable project in promoting generation of biomass energy using agricultural residue and reduce carbon intensity in India. 

Renewable Energy Deal of the Year – RTC: ReNew RTC

Led by Stephen Begley 

Norton Rose Fulbright represented a syndicate of 12 lenders on the US$ Equivalent of up to INR 77,600,000,000 (approx. US$1 billion) Facility Agreement in relation to the financing, construction and operation of ReNew Power’s “Round the Clock” 400MW Project across five sites (a solar farm, 3 windfarms and battery storage) in three states in India (the States of Rajasthan, Maharashtra and Karnataka.

Solar PV Portfolio - Portfolio Financing of the Year: Sherabad, Jizzakh

Led by Charles Whitney and Chris Down

Norton Rose Fulbright advised Masdar on the successful development and financing of two 220MW solar PV projects in the Samarkand and Jizzakh regions of Uzbekistan provided under the Investment Law, in addition to the development and financing of the 450MW Sherabad Solar PV IPP procured by the GOU under the Investment Law. 

Digital Infrastructure Deal of the Year - Data Center: Project Gotham

Led by Joris Ravelli

Norton Rose Fulbright advised a syndicate of finance parties, as a local law counsel alongside other advisers, to finance the development of 120 MW hyperscale data center campus in Indonesia by means of a sustainability-linked loan. This financing is considered a first in the data center landscape of Indonesia and potentially enhances sustainability.

Middle East

Refinance Deal of the Year – Power & Water: Ras Laffan C IWWP

Led by Charles Whitney and Angela Croker

Norton Rose Fulbright advised the refinancing lenders, comprising of KFW, Bank of China, NBK, SBI Shinsei, Norinchukin and MUFG as New Facility Agent on the partial refinancing of the 2,730 MW Ras Laffan C IWPP in Qatar.

Water Deal of the Year: Project Wave

Led by Angela Croker and Nicholas Kramer

Norton Rose Fulbright advised a consortium of financiers comprising Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai, Emirates Development Bank, Emirates NBD, First Abu Dhabi Bank, Gulf Investment Bank, Natixis and Warba Bank, on their circa US$2.2bn investment in a new independent water treatment (IWP) and transportation system project in Abu Dhabi (Project Wave), procured by ADNOC. The new IWP and transportation system will replace the current aquifer water injection systems across ADNOC’s onshore operations and will utilise seawater as an additional source for enhanced oil recovery-based injection into the fields, enhancing energy efficiency by up to 30 percent.

Water Treatment Deal of the Year: Al Wakra & Al Wukair STP

Led by Paul Mansouri and Nicholas Kramer

Norton Rose Fulbright acted for the consortium comprising Metito, Gulf Investment Corporation and Al Attiyah Motors & Trading Company in connection with the Al Wakrah and Al Wukair STP PPP project. The project, which comprises a US$720m 150,000 m3/day sewage treatment plant and associated Kharamaa facilities, with an option to expand, is Qatar’s first sewage treatment PPP project, and is part of Qatar’s 2030 vision to streamline water consumption.