Firms in the Spotlight Energy: transactional
Energy: transactional in Netherlands
Allen & Overy LLP
With an excellent track record in transactional work in the energy sector Allen & Overy LLP draws on its capabilities in environmental, regulatory, antitrust, tax, and planning law when advising sellers and acquirers, project sponsors, corporates, investors, suppliers, manufacturers, governments and debt funders. Werner Runge leads the practice, which assists clients on all matters relating to power and utilities, for example the construction of conventional power plants, as well as climate change.
Sumitomo Mitsui Banking
Blakliden Fäbodberget Wind
Green Investment Group
- Advised as lenders’ legal counsel upon instruction of the sponsors, Northland Power, Siemens, HVC and ALTE LEIPZIGER/HALLESCHE, on the project financing of the 600 MW far offshore wind park located outside the Dutch 12-mile zone, approximately 75 km off the Dutch coast, named project Gemini, which closed in 2014.
De Brauw Blackstone Westbroek's sizeable team is involved in energy infrastructure projects, transactions and disputes at national level as well as cross-border. One of the firm's key strengths is its ability to draw on its integrated M&A, corporate, regulatory, finance, environment, arbitration and litigation practices. Anja Mutsaers, who is frequently handles matters for Dutch and foreign clients relating to the energy transition debate, leads the team.
Other key lawyers:
Shareholders of Eneco
Waterland Private Equity Investments
Port of Rotterdam
- De Brauw represented TenneT in many of its national and international projects related to the energy transition.
- De Brauw is project counsel for the North Sea Wind Power Hub (NSWPH) consortium and advises the NSWPH consortium on complex legal questions in new areas.
- De Brauw acts as lead counsel to Gasunie in many of its national and international energy projects.
Freshfields Bruckhaus Deringer
Houthoff acts for a broad variety of clients such as banks and financial institutions, government bodies, suppliers, producers, investors and large energy companies and consumers. The team is engaged in M&A transactions and restructurings in the oil and gas and the renewables sectors as well as industry-related transactions. Waste to energy is another area of expertise - the team is led by Kristen Berger, who 'is a clear expert' and 'stands out as one of the best in her field'.
‘Practical and commercially focused when needed combined with a broad and deep expertise on corporate law, finance, security, M&A, regulatory, etc. I am confident to tackle a new challenge or negotiation with Houthoff, and confident they can help settle a fair structure with a view to the real risks. Belong to the small group of the best finance and energy firms in the Netherlands.‘
‘Maurits de Haan and Kirsten Berger in particular embody the qualities described above, offering a broad range of skills for complex structuring, deals and negotiations.‘
‘Sound knowledge and outstanding expertise about energy business in general and our business in particular. In energy business relevant and practical experience is key, otherwise engaging outside counsel is useless. Houthoff has succeeded in locking in this experience and therefore is able to give high quality no nonsense and relevant advice. Compared to other firms the team holds a very competitive position, the number of law firms that can supply equivalent services is very limited.‘
‘Marc van Beuge’s knowledge about energy law in combination with commercial contracting is unrivalled. He is extremely motived, always delivers (day and night), easy going, very responsive and also a nice guy to closely work with. He easily blends into an organisation, to come to tailor made and practical advice.‘
‘The team is hands-on, services minded and very pleasant to work with. They bring ample knowledge and expertise and to the heavy lifting to get the deal done!‘
‘With Houthoff we found a dedicated team player that is geared towards swift, practical and strong solutions for international initiatives from multinational companies in pursuit of hitting their ambitious sustainability targets. They help us meet our challenges in putting in place renewable energy power purchase agreements across the world.‘
‘The team is led by Kirsten Berger who stands out as one of the best in her field. She is a clear expert. Sharp, practical and very professional. She delivers and clearly enjoys working her magic. I would strongly recommend her to any multinational with a challenging sustainable energy transformation agenda.‘
- Assisting Van Oord on both corporate and financing aspects of Windpark Fryslan.
- Assisting Plastic Energy on the realisation of a new plastic recycling factory in the Netherlands.
Contracting, restructuring, regulatory, litigation, finance, projects and competition form an integral part of NautaDutilh's transactional energy department. The team has sectoral expertise in off shore oil and gas, power, new energies as well as private and infrastructure fund investments, which includes involvement in investments in energy assets. Jaap Jan Trommel, Harm Kerstholt, who re-joined as partner from NautaDutilh's New York office in July 2019, and Rotterdam-based senior associate Lisa Schoenmakers are the main contacts.
Other key lawyers:
Dutch Infrastructure Fund
Netherlands Oil and Gas Exploration and Production Association (NOGEPA)
SHV Holdings (& subs) incl. NPM
Spirit Energy (Centrica)
Vermilion Oil and Gas
- Advised family-owned multinational SHV Holdings and its subsidiary Dyas Holdings in its merger with Carlyle-backed Oranje-Nassau Energie.
- Advised NPM Capital on acquiring a majority stake in Rooftop Energy, a company that develops and operates solar power plants in the Netherlands, mainly on the rooftops of commercial buildings.
- Advised Royal Vopak on their significant investment in the TWTG Group, an R&D company specialized in smart embedded electronics.
Bird & Bird's energy practice, which acts for prominent wind turbines manufacturers and key as well as emerging players in the solar market, is engaged in infrastructure projects. Moreover, the team under Sophie Dingenen's leadership is involved in transactions in the renewables sector, and is regularly instructed by funds focusing on renewables, while the group also had an up tick relating to work on corporate power purchase agreements.
Eurus Energy Europe
Visser & Smit Hanab
- Project counsel to URENCO ChemPlants acting as their trusted advisor and advising them on all projects-related matters, including the day-to-day contract administration and re-adjustment of the project agreements for the construction of the tails management project.
- Advisin Unisun Energy Group on the sale of a solar project and on the development of a significant future project pipeline (300 MWp).
- Advisin Better Energy Group on the structuring and negotiating of the acquisition of a pipeline of solar projects in the Netherlands.
Loyens & Loeff's multi-disciplinary energy team stands out for having 10 tax lawyers that are entirely dedicated to advising energy clients on tax implications. Corporate M&A partner Jan-Willem van Rooij oversees the department, which acts for buyers, sellers and investment banks on M&A and corporate transactions in the energy industry, with special expertise in the oil and gas, the utilities and renewables sectors.
ConocoPhillips Petroleum Holdings B.V.
Stedin Netbeheer B.V.
Astronergy Solar Netherlands B.V.
Lightsource Renewable Energy Netherlands Holdings
Coöperatieve Rabobank U.A.
- Advises the Dutch State in its negotiations with Shell and ExxonMobil on the unwinding of the public/private partnership that was entered into in the 1960s for the development and production of the largest onshore European gas field, the Groningen field.
- Advised Riverstone Holdings LLC (bidder), a US-based private equity firm, on its acquisition of four coal-fired power plants located in Rotterdam, The Netherlands; and Farge, Zolling and Wilhelmshaven in Germany, respectively, with an approximate generation capacity of 2,350 megawatts, from ENGIE SA, a listed France-based company engaged in the supply of natural gas and electricity.
- L&L advised in and assisted 3i Infrastructure PLC on the acquisition of Joulz Diensten from Stedin Holding NV.
Expertise is high in Norton Rose Fulbright's transactional energy department covering all manner of renewables such as wind energy, waste to energy, solar, geothermal, but also upstream oil and gas. Energy infrastructure projects is another area where the team excels; examples of work include the group advising on liquefied bioLNG facilities and ultra-deep geothermal projects. Wouter Hertzberger leads the team.
Other key lawyers:
Sete Brasil Participacoes SA
Windpark Krammer BV
World Fuel Services
- Acted for Ib Vogt in the acquisition and development of a 54,5 MWp ground mounted solar project.
- Advising ING Bank on the financing of several small scale (i.e. with a maximum capacity of 2-20 MW) renewable energy projects, including wind projects and solar projects.
- Advising the lenders of the refinancing of the 144 MW near shore wind farm project in the IJsselmeer off the coast of the Westermeerdijk and Noordermeerdijk in The Netherlands.
Rotterdam-based Ploum is best known for handling projects for oil and gas companies and assists energy companies, including two of the four largest Dutch energy companies - NUON - Vattenfall and Eneco on M&A transactions. 'Excellent dealmaker' Stephan Sluijters, who leads the energy team together with Deborah Nizamoeddin, is increasingly instructed with respect to renewables.
Other key lawyers:
‘The client service is always high, as is the quality of the advice. The firm is especially strong in M&A work in the energy sector, and has an excellent track record. Hands-on, client driven and very easy to work with. Good value for money spent. Excellent alternative for the expensive ‘Zuid-As’-Firms.‘
‘Jeroen Terstegge is a rising star in the M&A/corporate/energy sector, very pleasant to work with, dedicated and a very clever lawyer with in-depth knowledge. He delivers great work. He is able to understand very complex issues and to deliver clever solutions.‘
‘Stephan Sluijters – very pleasant, fast thinking lawyer and an excellent dealmaker. He does understand what clients would like to see. Responsive and on the ball.’
ABN AMRO Energy Transition Fund B.V.
BayWa r.e. renewable energy GmbH
BayWa r.e. Solar Projects GmbH
Nuon / Vattenfall
The Netherlands Petroleum Stockpiling Agency (COVA)
Van Kessel Olie B.V.
Varo Energy B.V.
Wintershall Noordzee B.V.
- Represented Dyas/SHV in the sale of Dyas B.V. to RockRose Energy (NL) B.V.
- Advised Coöperatieve Rabobank U.A. regarding the exploitation of an integrated PV and Wind installation by Stichting voor Educatie en Beroepsonderwijs Zadkine.
- Ploum advised ABN AMRO Energy Transition Fund B.V. in the share acquisition of Windunie Development De Wieken B.V.
Simmons & Simmons' energy practice consists of three main pillars. Andrea Chao focuses on the development of energy plants, while Marieke Driessen and Frédérique Jacobse concentrate on the financing of such plants. Pieter van Uchelen and Rob Hendriks specialise in handling energy-related M&A transactions. The team is also active in litigation and arbitration cases related energy disputes.
ABN AMRO Bank
RE-N Produktion ApS/RE-N
Shareholders of Eneco
NIBC Bank N.V.
Irena / Terrawat
Republic of Indonesia
90 North Real Estate Partners LLP
Movement Real Estate / Van Deursen Group
ING Bank N.V.
The State of the Netherlands
- Advised the Dutch State on its issuance of the debut €5.98bn Green Bond.
- Advising German solar company PfalzSolar GmbH on the development of multiple rooftop and greenfield solar PV projects in the Netherlands.
- Advising 90 North (a globally operating independent real estate developer/adviser) on its potential acquisition of the newly to be developed European headquarters of Asics Europe B.V. and of Danone (Nutricia) in Hoofddorp.
Noted for delivering 'actionable advice', Stek puts together a 'highly efficient and knowledgeable team.' The team's workload in the energy sector includes commercial, corporate, M&A, projects and project mandates for energy companies, financial institutions as well as funds. Reijnoud Homveld and 'great to work with' Jeroen Timmermans lead the energy transactions practice group together.
‘Highly efficient and knowledgeable team. Always well prepared for calls and meetings and very communicative to clients and other parties involved.‘
‘Claudia Beele – sharp and pragmatic. Great communicator.’
‘More than other firms Stek delivers actionable advice. They probably would compete with others in terms of legal knowledge but the practical approach is of tremendous value to me as a client.‘
‘Jeroen Timmmermans – senior partner but very hands-on and involved. Great to work with and actually get things done in short amount of time.‘
Limburgs Energie Fonds
- Stek advised Norwegian Energy Company ASA’s (Noreco) wholly owned subsidiary, Altinex AS, on the acquisition of the entire share capital of Royal Dutch Shell Plc’s upstream assets in Denmark, Shell Olie- Og Gasudvinding Danmark B.V. for a consideration of $1.9bn.
- Stek advised Enercon and other shareholders of De Wieken BV in the sale of their shares to a consortium of ABN Amro Energy Transition Fund, Greenchoice and Windunie.
- Stek advised Stedin Group on the sale of Joulz through a controlled auction process to 3i Infrastructure for a purchase price of €310.4m.
With 'well informed and great advisor' Martin In de Braekt at the helm, Stibbe assists energy companies and large industrial companies in relation to energy-related M&A transactions such as upstream gas and oil deals, but also handles projects concerning wind farms, power plants, pipelines as well as developments with respect to energy transition in the Netherlands. Commercial contracts and financial matters, including project finance are other key areas of expertise.
‘Stibbe’s energy team is unique in the sense that I have not yet found another law firm with a similar focus. Most of the time law firms are organised per field of law and not per market segment. The Stibbe team is well experienced in large energy transactions and at the same time well informed about current market developments. This makes it a so called one-stop-shop for parties doing business in the field of energy or other large capital goods.’
‘Martin In de Braekt is well informed and a great advisor. The fact that focusses on energy transactions makes his advice very relevant and not unnecessarily theoretical. At the negotiating table he can vary styles to suit any situation.‘
‘In touch with all rumours, developments in the sector Involved in most deals, so very up to date on market practice.‘
‘Martin In de Braekt has been involved in most deals for the past dozen years.‘
‘The team’s vast experience with deals in this industry and the deep understanding of how this industry works. They relate to what is going on behind the scenes and in a highly sophisticated manner help bring negotiations forward.‘
‘Two specific stand outs: Martin In de Baekt and Li Wee Toh. I value their deep understanding of the industry, their sophistication when it comes to understanding what is going on in board rooms and using their legal expertise to facilitate negotiations rather than creating obstacles.‘
Eurus Energy Europe (shareholders: Toyota Tsusho Corporation and Tokyo Electric Power
GE Renewable Energy
Northland Power Inc.
W2C (Waste-to-Chemistry) consortium (Air Liquide, Nouryon, Enerkem, Port of Rotterdam, Shell)
- Advises Eneco on its privatisation in a highly competitive auction process.
- Advised the consortium of Air Liquide, Enerkem, Nouryon and the Port of Rotterdam in respect of the participation of Shell as equity partner in the waste to chemistry (W2C) project in Rotterdam.
- Advising GE Renewable Energy in respect various developments regarding the installation and operation of a new offshore wind turbine model with 12 MW rated power output.
Advising companies, governments, public authorities and financiers, Baker McKenzie is active in the renewables, climate change, oil and gas as well as the infrastructure sector. Clients benefit from the firm's global network which harbours more than 100 international lawyers specialising in energy law, allowing it to efficiently handle domestic and cross-border energy transactions. John Paans and Juliana Dantas jointly lead the practice.
Other key lawyers:
Renewable Energy Group
- Advised Petrobras on the implementation of a “Strategic Alliance” with Statoil in the Netherlands.
- Represented Egeria in its sale of Hitec, Dutch headquartered manufacturer and provider of full-service turnkey Dynamic UPS solution, to Air Water, a publicly listed Japanese manufacturing conglomerate.
Primarily focusing on transactions and projects in respect of on and offshore wind parks, hydrogen, biomass and biogas facilities as well as solar park, Biesheuvel Jansen advocaten is involved in a number of energy transactions for Engie and INB Group. Practice head and name partner Rutger Jansen stands out as an 'excellent M&A and energy lawyer who is a hard and loyal worker and has extensive experience in the energy sector.'
‘From the start they were able to participate in the discussions and added value to the agreements. Keeping focused on our interest, they were able to find common grounds on hard topics. The combination of Rutger and Inge was very strong and we will for sure go to them a next time.‘
‘They comes with a HOW and WHY solution and not with the question how we think it should be done.‘
‘A benefit of Biesheuvel Jansen advocaten is that you get the personal attention of the partners, which all have extensive experience in M&A and energy matters. The team has in-depth knowledge of M&A transactions and the energy sector in general.‘
‘We mostly work with Rutger Jansen (trusted advisor when it comes to corporate and energy matters). He is an excellent M&A and energy lawyer who is a hard and loyal worker and has extensive experience in the energy sector (particularly in M&A transactions and renewable projects (such as wind, biomass and solar). A strength of Rutger Jansen is that he understands the business and financial rationale behind an energy M&A transaction or project which enables him to swiftly translate our desired business and financial terms in the documentation.’
I also recommend Inge Timmerman for M&A and energy work, because she is committed and knows her stuff.‘
‘Hands on team, flexible and pragmatic. Enthusiastic, and competent. Cheaper than larger offices.‘
‘They bring value for money. Enthusiastic, competent, result driven individuals.‘
Green Investment Group
Dutch & Co
Port of Ghent
Tank Storage Amsterdam
European Development Finance Institutions (EDFI)
- Advised ENGIE and Green Giraffe on the formation of the consortium, as well as on various regulatory and contracting matters relating to the project (including in respect of TSA, EPC and O&M).
- Advising GCV Zonne-energie, subsidiary of ENGIE S.A., a company listed on the Paris stock exchange (EPA:ENGI), in respect of the development and project financing by ASN Bank of four solar parks (Flevokustzon, Maximazon, Bergumzon and Zonnepark Zeus).
- Advising INB Group on the sale of the Amsterdam biomass power plant to AEB.
Providing a full-service offering to clients, from corporate and finance to capital markets and regulatory expertise, Clifford Chance's focus lies on novel financing arrangements and cross-border M&A activity in the energy sector, particularly on renewable energy acquisitions. Hein Tonnaer and Liesbeth Buiter jointly lead the team.
Other key lawyers:
Capital Stage AG
Eurus Energy Europe
- Advising Rabobank and the senior lenders on the EKF-backed project financing of the 353 MW Blakliden / Fäbodberget onshore wind farm in Sweden.
- Advising FMO and local lenders in relation to the financing of the design, development, construction, commissioning, operation and maintenance of a 50MWp solar PV power plant to be located near Gharo, District Thatta, Sindh Province, Pakistan.
- Advising Windpark Fryslân with the financing of the costs for the construction of a nearshore wind farm.
CMS advises on the acquisition, development and financing of renewable energy projects, in particular on- and offshore wind and solar PV projects. The firm's full-service team has handled 'some of the premier deals in the Dutch market to date'; practice head Cecilia van der Weijden and Femke Stroucken advised Ymere on the structuring of the sustainable heat supply to the tenants of new housing project 'Eenhoorn' in Amsterdam. Other key members include Martika Jonk, Arno Moret, associate Simon Sanders.
‘They focus incredibly well on goals and results.‘
‘Extremely well organised.‘
‘CMS has one of strongest teams for renewable energy/energy related topics. From regulatory and tax to finance and transactional topics, CMS provides a high quality of services. They are unique in having done some of the premier deals in the Dutch market to date.‘
‘Cecilia van der Weijden is a smart, capable, and considerate M&A lawyer. She knows how to navigate negotiations and eloquently control winning positions. Her management of due diligence processes and promptly staying on top of deal topics demonstrates her decade plus of experience in the Dutch market. She is available for adhoc discussions and provides relevant negotiation tactics. She knows how to trouble shoot if/when issues present themselves.‘
Den Ouden Groenrecycling
ENECO Solar, Bio & Hydro
Equinor (previously named Statoil ASA)
Gas Union GmbH
Groningen Seaports N.V.
Havenbedrijf Rotterdam (Port of Rotterdam)
Neptune Energy International S.A.
- CMS advised Vattenfall on the acquisition of the Dutch energy company DELTA Energie, from EQT.
- CMS advised ENECO Solar, Bio & Hydro B.V., Groningen Seaports N.V., WIRCON GmbH and Cooperative Bronnen van Ons on entering into a joint venture agreement for the joint development and operation of solar PV parks in the Netherlands.
- CMS advisedHana Alternative Asset Managementon the structuring and contracting of the supply of sustainable heat and electricity as part of the refurbishing of the office building EDGE Amsterdam West to create state-of-the-art, smart and sustainable offices.
Eversheds Sutherland (Netherlands) B.V. advises during the entire life cycle of energy projects, for example from the start of the planning up to the commissioning and operations of biogas plants. The team further has recourse to a considerable amount of expertise in a variety of technologies such as wind, heating, biomass and solar, with the group advising on ground mounted and rooftop solar projects. Miriam van Ee and Michel Chatelin lead the team together.
Kingspan Group plc.
United Momentum, Clean Electricity Generation
Klimaatgarant, Itho Daalderop
Zoncoalitie/ City of Amsterdam
Co-operative Bronnen Van Ons
- Advising Blue Sphere in several biogas projects in the Netherlands. An important project has been closed May 2019.
- Sales of project rights for a portfolio of solar projects for Zonel.
- Advice on the development of a large solarpark in the seaport Groningen by a joint venture of BronnenVanOns with Eneco, Groningen Seaport, and Wirsol.
Linklaters is acknowledged for its 'extremely strong industry knowledge with in-house cross-border capabilities.' With Jan Willem de Boer at the helm, companies operating in the oil and gas industry regularly instruct the team in financing and corporate matters.
Other key lawyers:
‘Thomas Schulz and Jens Hollinderbaume are highly knowledgable and specialised in the energy market and fully capable of handling all legal matters across the industry.‘
Dentons' energy team, which consists of corporate, finance, projects, environmental, regulatory and tax lawyers, is involved in a significant amount of transactions in the energy space such as mergers, acquisitions and joint ventures for Dutch and international companies. The team is also handling an increased number of biomass and waste-to-energy projects. Newly appointed co-head David Griston and Jan Jakob Peelen lead the practice together.
Other key lawyers:
Petróleos de Venezuela (PDVSA)
- Represented Sev.en Energy Group on the acquisition of a 50 percent stake in InterGen N.V., a Dutch-based independent power producer with assets in the UK and Australia..
- Advising Eurus Energy Group on its acquisition of 6 Wind farms from Yard.
- Advising Noble Energy on its international energy industry joint venture for the transport of natural gas valued at US$ 15 billion from Israel to Egypt via the EMG Pipeline.
Part of DLA Piper's appeal is its solid solar practice, which advises on solar transactions across the full transactional cycle, ranging from M&A work on the development to specific project transactions. The team is also handling increasing numbers of instructions regarding wind advisory mattes. Led by the duo Gerard Kneppers and Pieter Paul Terpstra, the practice's clientele includes not only companies operating in the solar industry, but also those in the oil and gas sector as well as financial institutions.
John Swire & Sons (and Argent Energy, part of Swire Green Investments)
Edmond de Rothschild
Hamburg Commercial Bank AG
- Advised John Swire & Sons and its wholly-owned subsidiary, Argent Energy, on the acquisition of Biodiesel Amsterdam, Tankstorage Amsterdam and Tank & truck cleaning Amsterdam.
- Advised Triodos Bank on the construction and financing by ECN of a hybrid test and operational wind park in Wieringermeer.
- Advised LM Wind Power R&D (Holland) B.V. on the acquisition of the business of Stichting Kenniscentrum WMC.
Orange Clover Law
Kees Hooft and Mark Loefs lead Orange Clover Law's transactional energy practice, which acts for companies and financial institutions on energy transactions and financings. The team's workload also encompasses waste-to-energy and biomass projects.
‘It is an excellent boutique firm that provides companies with no-nonsense, direct and straightforward legal advice. No layers of associates, but direct via partners.‘
‘Pien van Veersen, partner: very dedicated, self-confident, sharp and eager. Mark Loefs, partner: pleasant, relaxed and knowledgeable.‘
Stichting Voorbereiding Pallas Reactor
- Advising BNG Bank on its project financing of a bio mass installation.
- Advising a client on the realisation of a nuclear reactor for medical isotopes and nuclear technology research, including as to the equity and (project) financing required.
- Advising an energy sector client on the project financing of a large scale solar panel development.