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ESG & Energy Transition

ESG & Energy Transition

ESG & Energy Transition

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Overview

The renewable energy industry is dynamic and disruptive. Technology, regulation and incentives are evolving quickly as organizations and governments work towards a sustainable future.

Our integrated team helps clients break new ground with smart and innovative legal solutions. We have over 25 years of experience advising at the industry’s cutting edge, working on landmark renewable energy deals, emerging technologies and market-leading initiatives, including onshore and offshore wind, solar PV, hydrogen, electric storage, biomass and EV charging infrastructure.

Clients can act with confidence and overcome legal uncertainty, knowing that our lawyers have seen it all before.

Capabilities in focus

  • M&A
  • Joint ventures
  • Project development
  • Development finance
  • Project finance
  • Corporate fundraising
  • Tax credits and other clean energy incentives
  • Green sustainability-linked finance, such as green bonds, green loans, sustainability-linked loans, sustainability-linked bonds and sustainable securitizations
  • Advising on the application of the green loan principles and EU green bond standards

  • Land acquisition and site control
  • Environmental planning and compliance
  • Permitting
  • Carbon capture and sequestration
  • Construction
  • Environmental assessment legislation
  • Brownfield sites (including risk management and insurance)

  • Incentive schemes (including CfDs and RHIs)
  • Corporate PPAs
  • Operating and maintenance agreements
  • Procurement and service agreements
  • Environmental compliance
David Blondel

David Blondel

Partner, Paris

+33 (0) 1 44 17 77 05
Mark Richards

Mark Richards

Partner and Regional Practice Group Leader - Energy, Environment and Infrastructure, London

+44 (0) 20 3400 4603
Peter O. Hansen
+1 303 866 0206
Bryan E. Keyt

Bryan E. Keyt

Partner and Global Practice Group Leader - Energy, Environment and Infrastructure, Chicago

+1 312 602 5036
David Blondel

David Blondel

Partner, Paris

+33 (0) 1 44 17 77 05
Mark Richards

Mark Richards

Partner and Regional Practice Group Leader - Energy, Environment and Infrastructure, London

+44 (0) 20 3400 4603
Peter O. Hansen
+1 303 866 0206
Bryan E. Keyt

Bryan E. Keyt

Partner and Global Practice Group Leader - Energy, Environment and Infrastructure, Chicago

+1 312 602 5036

Meet The Team

David Blondel

David Blondel

Partner, Paris

+33 (0) 1 44 17 77 05
Mark Richards

Mark Richards

Partner and Regional Practice Group Leader - Energy, Environment and Infrastructure, London

+44 (0) 20 3400 4603
Peter O. Hansen
+1 303 866 0206
Bryan E. Keyt

Bryan E. Keyt

Partner and Global Practice Group Leader - Energy, Environment and Infrastructure, Chicago

+1 312 602 5036

Related Practice Areas

  • Energy Transition

Experience

RGreen Invest

Advised RGreen Invest, the leading France-based portfolio management company focused on financing the energy transition, with more than €1.4 billion of assets under management in its partnership with NW Groupe for the creation of their strategic joint venture NW Storm and in the related fundraising.

NW Groupe is raising €300 million from RGreen Invest on behalf of its subsidiary NW Storm, thus becoming the first French unicorn of the energy transition, valued at €1.5 billion. This investment will allow NW Storm to accelerate its deployment program and significantly increase the number of high-powered electric charging stations (IECharge) and JBoxes for energy storage.

Public Service Company of Oklahoma (PSO)

Advised Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power, in connection with its proposed US$2.47 billion fuel-free power plan to purchase three new wind farms and three new solar facilities, which would provide 995.5 megawatts of new, cost-effective renewable energy. The six projects, consisting of facilities in Texas and Kansas, were chosen through a competitive bidding process and are expected to be completed in 2025.

Qair International

Advised Qair International, an independent renewable energy producer, on three issues of green bonds totaling €88.9 million. The issue will enable it to finance new power plants of renewable energy production in Europe. With this first Euro PP Green Bond, the group has undertaken to comply with strict “green” commitments in terms of use of the funds, traceability of investments made and reporting, thereby following the standards set by the Green Bond Principles issued by the International Capital Markets Association. The issue proved extremely successful with institutional investors. Crédit Industriel et Commercial (CIC) acted as arranger and lead manager, with the support of Crédit Agricole Languedoc as co-arranger. The European Bank subscribed to a part of these green bonds.

Port of London Authority

Advised the Port of London Authority (PLA) in providing a loan facility to Net Zero Marine Services (NZMS) for the construction and operation of charging points for electric vessels and equipment at two locations on the river Thames. The charging points will be located on moveable pontoon structures in the river and connected to the grid at permanent concrete platforms on the shoreline. This transaction highlights the focus of the PLA to support sustainable projects on the river and is a notable development in decarbonizing operations on the Thames.

California's climate reporting laws

Advising numerous companies on compliance with California’s new climate reporting laws. SB 253 applies to companies doing business in California with an annual revenue of US$1 billion or more and requires reporting scope 1 and 2 emissions in 2026, and scope 3 in 2027. SB 261 applies to companies doing business in California with annual revenue of US$500 million or more and requires reporting by 2026 climate-related risks and mitigation efforts.

Peabody Energy Corporation

Advising Peabody Energy Corporation in connection with its launch of R3 Renewables LLC, a renewable energy development company, in a joint venture with Riverstone Credit Partners and Summit Partners Credit Advisors.

Over the next five years, R3 intends to develop more than 3.3GW worth of solar PV facilities and 1.6GW of battery storage capacity. The company will initially focus on developing renewable energy assets at six sites near Peabody’s former mining sites in Indiana and Illinois.

Related Insights

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Nov 20, 2024

COP29 Update – Decarbonising the Built Environment: the Challenges and Opportunities

The decarbonisation of the built environment is likely to be on the UK Government’s agenda as it looks to make good on its commitment at COP29 to cut carbon emissions by 81% from 1990s level by 2035. How will this be achieved? Will Minimum Energy Efficiency Standards play a part, will we see more green leases or more building accreditations and is the UN’s Building Breakthrough initiative beginning to make a substantive difference?
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Powering up data centre development in SE Asia with new direct PPA frameworks

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Nov 12, 2024

Proposed planning policy for wind and solar farms

Consultation closed at the end of September on proposals to align national planning policy with the Government’s aspiration for Britain’s future as a ‘Clean Energy Superpower’ by 2030. Government has committed to respond before year-end. What Planning changes are proposed for those looking to deliver solar and onshore wind?
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Autumn Budget 2024: Key Takeaways for the UK’s Energy Sector – Part One

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Nov 11, 2024

Typical transaction documents in a (standalone) BESS project-financing

Further to our previous articles on the market and sources of revenue for (standalone) project-financed BESS projects, this article considers the core transaction documents making up a project-financed BESS project and the similarity between these and the transaction documents commonly used in other renewable energy projects.  Whilst there are many commonalities with these other project-financed renewable energy projects, there are also key differences – in particular in respect of revenue contracts and the nature and terms of these. Below we briefly consider the transaction documents that are broadly similar to other (project-financed) renewable energy projects, and we then go on to consider in greater detail the relevant differences.
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Battery storage revenues and routes to market

As covered briefly in our previous article, the “route to market” / offtake arrangements/ revenue contracts are perhaps the key difference between battery energy storage systems (BESS) projects and other project-financed renewable energy projects; often there is material exposure to market (or ‘merchant’) risk and this makes them arguably more challenging to project-finance for lenders.  In this article, we discuss the nature of revenue in a (standalone) BESS project, how electricity storage providers “stack” these revenues and we briefly introduce the contractual structures that are used in connection with the route to market for BESS projects (which we will cover in greater detail in our next article).

Related Insights

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Nov 20, 2024
COP29 Update – Decarbonising the Built Environment: the Challenges and Opportunities
The decarbonisation of the built environment is likely to be on the UK Government’s agenda as it looks to make good on its commitment at COP29 to cut carbon emissions by 81% from 1990s level by 2035. How will this be achieved? Will Minimum Energy Efficiency Standards play a part, will we see more green leases or more building accreditations and is the UN’s Building Breakthrough initiative beginning to make a substantive difference?
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Nov 19, 2024
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Nov 12, 2024
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Nov 12, 2024
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This insight highlights government initiatives in Southeast Asia that promote data centre development through Direct Power Purchase Agreements schemes. As jurisdictions compete to attract investment in the power intensive data centre and digital infrastructure sectors, they are also looking to do promote development in a way that is consistent with national decarbonisation commitments.
Insights
Nov 12, 2024
Proposed planning policy for wind and solar farms
Consultation closed at the end of September on proposals to align national planning policy with the Government’s aspiration for Britain’s future as a ‘Clean Energy Superpower’ by 2030. Government has committed to respond before year-end. What Planning changes are proposed for those looking to deliver solar and onshore wind?
Insights
Nov 11, 2024
Autumn Budget 2024: Key Takeaways for the UK’s Energy Sector – Part One
The UK's new Labour Government’s first Budget has revealed key measures, aiming to support the UK’s transition into cleaner energy. Whilst many changes are largely positive for the renewable sector, the Budget does highlight some potentially challenging times ahead for investors in the oil and gas industries. In this two-part article, BCLP discusses the key changes the Autumn Budget brings, and the subsequent impact on the energy sector.
Insights
Nov 11, 2024
Typical transaction documents in a (standalone) BESS project-financing
Further to our previous articles on the market and sources of revenue for (standalone) project-financed BESS projects, this article considers the core transaction documents making up a project-financed BESS project and the similarity between these and the transaction documents commonly used in other renewable energy projects.  Whilst there are many commonalities with these other project-financed renewable energy projects, there are also key differences – in particular in respect of revenue contracts and the nature and terms of these. Below we briefly consider the transaction documents that are broadly similar to other (project-financed) renewable energy projects, and we then go on to consider in greater detail the relevant differences.
Insights
Oct 14, 2024
Battery storage revenues and routes to market
As covered briefly in our previous article, the “route to market” / offtake arrangements/ revenue contracts are perhaps the key difference between battery energy storage systems (BESS) projects and other project-financed renewable energy projects; often there is material exposure to market (or ‘merchant’) risk and this makes them arguably more challenging to project-finance for lenders.  In this article, we discuss the nature of revenue in a (standalone) BESS project, how electricity storage providers “stack” these revenues and we briefly introduce the contractual structures that are used in connection with the route to market for BESS projects (which we will cover in greater detail in our next article).
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