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Shearman & Sterling is at the forefront of the power industry, advising on the largest and most complex power transactions worldwide. With market-leading experience and an enviable track record of global awards, our multidisciplinary Power Group delivers services in project development and finance, capital markets, mergers and acquisitions, construction, international arbitration, environment and tax. We work seamlessly across our offices around the world to ensure effective and efficient staffing for every client engagement.

Our global platform, covering Africa, Asia, the Americas, Europe and the Middle East, provides trusted counsel to our power industry clients, including power developers, energy companies, public utilities (investor-owned and government-run), contractors, equipment suppliers, commercial lenders, export credit agencies, development financial institutions and other financial institutions.

Shearman & Sterling has extensive knowledge of the power industry—including in gas-fired, coal-fired, nuclear, geothermal, wind, solar and hydroelectric power projects, I(W)PPs and utility-owned plants, and transmission and distribution systems. We have exceptional credentials across multiple jurisdictions, which means we can offer first-rate services to our clients wherever they do business.

In Africa, we advised on the groundbreaking Dorper Wind Farm project in South Africa, which was named “African Wind Deal of the Year 2012” by Project Finance Magazine. We are also advising Sasol Limited and the Mozambican state-owned electricity utility as sponsors on all aspects of the development and financing of the 175MW gas-fired Ressano Garcia power project in Mozambique.

In Asia, we advised the sponsors on the landmark Mong Duong 2 IPP, then the largest private sector power project and the first coal-fired BOT to close in Vietnam. We also advised the financiers of the UCH II power project in Pakistan, which included multiple export credit agencies, development financial institutions and commercial lenders, with a mix of traditional lenders and Islamic financing, including a Shari’ah-compliant ijara lease structure from Islamic Development Bank, and which entailed complicated intercreditor negotiations. We are currently advising the sponsors on both the Central Java IPP in Indonesia, which is that country’s largest single project financing, and the CHP5 IPP in Mongolia, the first thermal IPP in that country.

In the Americas, our work includes advising on the largest LBO of a US energy company and also advising ING Capital LLC as joint lead arranger and joint bookrunner in connection with LS Power’s Riverside project, an approximately 925 MW natural gas-fired simple-cycle power plant located in Kentucky. We also advised on the financing of Phase I and II of the San Jacinto-Tizate geothermal power project in Nicaragua, which is the largest geothermal construction project in Central America.

In Europe, we advised Raetia Energie AG in its $4.2 billion joint venture with SüdWestStrom Kraftwerk GmbH & Co. KG for a coal power plant in Brunsbüttel, Germany. We also have an impressive track record in wind farm projects in France, including advising Société Générale in connection with the Leffincourt Wind Project and the Iberdrola Wind Projects.

In the Middle East, our lawyers advised on the first independent power/water projects in Qatar (Ras Laffan IPP), Saudi Arabia (Sadaf IPP), Abu Dhabi (Taweelah A1), Bahrain (Al Ezzel IPP) and Egypt (Sidi Krir IPP). These innovative projects went on to become the template for future projects in those jurisdictions. Since then our team of lawyers has advised on almost every major Middle East independent power/water project.

powerCPFERC Works to Integrate Electric Storage into Wholesale Markets
Over the past year, the Federal Energy Regulatory Commission has accelerated its efforts to facilitate integration of electric storage projects into wholesale electricity markets subject to its jurisdiction. Counsel Donna Bobbish examines the issue. Read more >

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