KG Law Firm advised Ashtrom Renewables Energy

October 2022 KYRIAKIDES GEORGOPOULOS Law Firm’s Energy Infrastructure team advised Ashtrom Renewables Energy on a transaction that marks the Company’s entry into the Greek Renewables Market through the acquisition and development of a photovoltaic projects pipeline of a total capacity of 541 MW, a part of which is at a late development stage. The Energy team’s involvement was continuous from the performance of the due diligence process up to the closing of the transaction beginning of October.  The team was led by Gus J. Papamichalopoulos (Senior Partner), and included Efi Palaiologou…

Possible Regional Connections of the Energy Exchange

August 2022 The Slovenian energy exchange BSP Southpool is considering connecting with foreign energy exchanges and creating a regional exchange. It has been reported that serious negotiations are underway to connect with the Serbian SEEPEX energy exchange. BSP has 33 members – Slovenian and foreign companies engaged in the sale of electricity. The energy exchange allows members to trade day-ahead and intraday, on clearing and long-term auctions. It issues the Slovenian Electric Stock Exchange Index (SIPX), which reports the hourly index of electricity on the electricity exchange market in…

NNDKP Assists ExxonMobil with Closing the Sale of Its Participation in Neptun Deep Offshore Project to Romgaz

August 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted ExxonMobil, one of the world’s largest publicly traded international oil and gas companies, with finalizing the last steps in selling to Romgaz its 50% participation in the Neptun Deep offshore block in the Black Sea. With the sale being materialized, this is one of most important M&A transactions in the energy sector ever rolled out on the local market that reshaped the oil & gas industry in Romania. NNDKP advised ExxonMobil in all stages of the transaction, covering the full range of legal aspects entailed by the…

HRADF to Launch an International Tender

May 2022 HRADF will launch an international tender to sell a 49% equity stake in Hellenic Electricity Distribution Network Operator (DEDDIE) by the end of the year. PPC will be the seller and the tender will envisage strong rights for the minority shareholder, while all legal-accounting preparations will be implemented by the time the tender will be launched, George Stassis, chairman and CEO of PPC said, predicting strong investment interest for the distribution grid. 

LNG Terminal on the Island of Krk

May 2022 The aim of the project is to increase the security of supply and ensure sufficient quantities of natural gas for the needs of the Republic of Croatia and the countries of the region.  The project involves the construction of an LNG terminal with an area of ​​35 ha, with a capacity of 15 billion cubic meters of natural gas, and the possibility of accepting the largest LNG ships, with draft depths up to 18 m. Real estate status: Dina-Petrokemija d. D. In bankruptcy, maritime domain Implementation model: open negotiation opportunities.

Wind Farm „Derala 87 MW“

April 2022 There are two potential scenarios for the realisation of this project, one that includes the installation of 29 Vestas turbines with a total cost of EUR 109 million and the other that includes the installation of 29 China turbines with a total cost of EUR 78.9 million. The preliminary choice of turbines, as it now stands, is Vestas V 112, 3.0 MW, 119 mph with 87 MW of installed electric power. The total investment will depend based on the set of turbines used and it will amount to EUR 109 million for the Vestas or EUR 78.9 million for the China turbines. Thus far, this project has…

Solar Power Plants in Croatia

May 2022 The first tender for solar power plants with an installed capacity of more than 500 kW (quota of 300,000 kW) was announced this year and causing a large increase in the development of solar power plant projects with higher capacities. One of the greatest solar potentials is that solar power plants are being built mostly in coastal and island areas, which Croatia has in abundance. For example, renewable energy sources are a very important component of the development of the Primorje-Gorski Kotar County and are contained in all strategic documents. The goal is to achieve a high share of…

Grid-Tied Solar Plant

April 2021 The project is an investment in a photovoltaic power plant with a capacity of 85 megawatts. The investment is expected to be EUR 63 million.

Thermal Plant Reconstruction and Operation

April 2022 According to media news, in 2021, the Albanian Government signed a memorandum of understanding with the American company Exxon Mobile for the repair and commissioning of the Vlora thermal power plant. The agreement’s objectives are the introduction of liquefied gas in Albania, the conversion of the Vlora TPP to work with this gas and the construction of a new gasification terminal, to distribute small scale gas, thereby turning Vlora into a regional market. A pre-feasibility report was expected to be delivered in the third quarter of 2021, while the targeted start-up for the LNG Import…

Wind Parks Slovinj of 130 MW and Dzeva of 46 MW

April 2022 “Elektroprivreda Bosne i Hercegovine”, “Elektroprivreda HZHB Mostar” and “Elektroprivreda RS” entered into a 263 million EUR investment cooperation for the construction of two wind parks in the Glamoc municipality. The implementation period for its construction is 10 years whereas the payback period is set at 12 years. At this time, the construction permit is in the issuing procedure.   

Development of Two Wind Farm Projects

April 2022 It was announced that Germany-headquartered renewable energy developer wpd, is planning to invest in the construction of two wind farms located near the city of Dobrich in north-eastern Bulgaria. The company plans the construction of two wind farms with a total power capacity of 75 –100 megawatts. The estimated value of the investment in such capacity is expected to be worth between EUR 90 and 120 million.

KYRIAKIDES GEORGOPOULOS Law Firm advised Siemens Energy SA & Siemens Gas and Power Holding B.V.

April 2022 KYRIAKIDES GEORGOPOULOS Law Firm advised Siemens Energy SA & Siemens Gas and Power Holding B.V. with regards to the corporate restructuring of the “Greek Energy Business”. In particular, the restructuring of the Greek Energy Business was effected through the spin-off of the “Greek Energy Business” from “Siemens Electrotechnical Projects and Products SA” and its absorption by “Siemens Energy SA”, which was specifically established for the purposes of this transaction. The transaction was completed on 1 April 2022, giving effect to the remainder of the 2020 worldwide…