Projects and energy in Thailand

Allen & Overy (Thailand) Co, Ltd acts for export credit agencies, development finance institutions and government bodies in infrastructure investments and project finance. Further, the team also has experience of the formation of infrastructure funds. The practice group is jointly headed by managing partner Stephen Jaggs and Sarah Wilson, who has experience in infrastructure, energy and power project finance across the Asia Pacific region. Highlights included Jaggs acting for the Asian Development Bank in relation to the financing of a 709MW portfolio of renewable energy projects in India, which will be developed by ReNew Power Ventures. Anchalee Limviriyalers is also recommended.

Practice head(s):

Stephens Jaggs; Sarah Wilson

Testimonials

‘The team is prompt, accurate and appropriate and we are satisfied with their work.’ 

‘Respond in a timely manner.’

Key clients

Asian Development Bank

International Finance Corporation

Electricty Generating

Kasikornbank

Siemens AG

Total Gas & Power

ENGIE Global Developments

Work highlights

  • Advised the global energy and services group ENGIE on the completion of the divestment of its entire 69.1% interest in Glow Energy worth $2.93bn.
  • Advising Total Gas & Power and Siemens on a 1,230MW LNG to power project in Myanmar.
  • Acted for Mizuho Bank and MUFG Bank on equity bridge loans provided to PT Jawa Satu Regas and PT Jawa Satu Power in connection with the financing of the 1,760MW Jawa 1 gas fired power station and FSRU in Indonesia.
  • Advising the sponsors, Phonesack Group, Electricity Generating and EDL Generation on the post closing matters for the Nam Theun 1 hydropower project.
  • Advised International Finance Corporation and Asian Development Bank on their external secured debt and equity investment into the Yoma Central Project, a mixed use office development in Yangon worth $700m.

Baker McKenzie is active throughout Southeast Asia, and its Thai projects and energy team has benefitted from the development of the Eastern Economic Corridor, which has generated high-quality work in a range of infrastructure mandates in the energy, power, mining and petrochemicals sectors. In the project development space, practice head Sawanee Sethsathira has particular experience in PPP projects, having been involved in the first sky train project in Thailand. Viroj Piyawattanametha has a record of acting for financial institutions and banks in project finance transactions, and Theerapab Punyasakhon is noted for project finance and project development work. Also recommended is senior associate Napas Na Pombejra, who has experience in energy project finance.

Practice head(s):

Sawanee Sethsathira

Testimonials

‘The firm has a good reputation in Asia. Especially in China, Singapore, Hong Kong and Thailand with reliable and responsive lawyers.’

Key clients

The Siam Commercial Bank

Kasikornbank

Work highlights

  • Advising Gull Energy Development as the bidder in relation to the concession for the Map Ta Phut industrial port phase 3 project.
  • Advising Bangkok Synthetics on EPC work in relation to the expansion of their C4 value chain production facility in Map Ta Phut.
  • Advised Triton Holding in relation to negotiating the MOU with Siam LNG Company as the main contractor of the Siam KNG Storage Tank and Jetty Project Phase 1.
  • Advising East Water Group on the EPC contracts in relation to their industrial water treatment plant due to the expansion of East Water’s business.
  • Acting for Winchai in relation to the development and financing of a 45MW wind farm power plant located in Mukdahan province including the EPC contract and operation and maintenance contract.

Chandler MHM Limited has strengths in project finance and development, acting on major project mandates in Thailand and abroad. The team is led by the trio of Jessada  Sawatdipong, Ratana Poonsombudlert and Joseph Tisuthiwongse. With an expertise in cross border work in the energy sector, Sawatdipong advises borrowers and lenders, often acting for major Thai and international banks; Poonsombudlert specialises in the oil, gas and mining sectors; and Tisuthiwongse advised a series of lenders including Bangkok Bank and The Siam Commercial Bank on the project financing for the Nam Theun 1 hydroelectric power project in Laos valued at $1bn. Also recommended is Nopamon Thevit Intralib, a banking and financing specialist focusing on renewable energy matters.

Practice head(s):

Jessada Sawatdipong; Ratana Poonsombudlert; Joseph Tisuthiwongse

Other key lawyers:

Nopamon Thevit Intralib

Key clients

Electricity Generating Authority of Thailand

Kuwait Foreign Petroleum Exploration

PTT Global Chemical

Navanakorn Electricity

Mitsubishi

Work highlights

  • Acted as counsel to PTT Oil and Retail Business in the financing of a spinoff oil and retail business.
  • Acting as counsel for Bangkok Bank in connection with providing credit facilities relating to a 15MW hydroelectric power station in Laos.
  • Advising Import Export Bank of Thailand as lenders to a Vitnamese borrower on the project financing of a solar power project.
  • Advising Bank Bank and KASIRKORNBANK as lenders on the refinancing of solar power plant in Saraburi and Nakhon Pathom provinces in Thailand.

Hunton Andrews Kurth LLP acts for multinational companies, financial institutions and governments in the finance, design and construction of energy projects. Managing partner Edward Koehler has experience in conventional and renewable project financing, development and construction across the Asia Pacific region, and James Bradley has advised lenders, sellers and sponsors on energy and infrastructure work. Also recommended is Chumbhot Plangtrakul, who acted for Raimon Land in its project development and joint venture arrangements with Tokyo Tatemono Group to develop residential condominium projects in Bangkok.

Practice head(s):

Edward Koehler; James Bradley; Chumbhot Plangtrakul

Key clients

Electricity Generating

Quezon Power

GNPower Kauswagan

Impact Electron Siam Company

Asian Development Bank

Chow Energy

Work highlights

  • Acted as international counsel to Electricity Generating in the acquisition of 49% equity interest in the 1.8GW Paju LNG fired power facility in Paju City in South Korea.
  • Represented Raimon Land in its project development and joint venture arranagements with MEA Commercial Holdings.

Weerawong, Chinnavat & Partners advises an enviable government and corporate client base on a variety of transport infrastructure projects including ports, railways, aviation projects and highways. The team is jointly headed by Passawan Navanithikul and Weerawong Chittmittrapap, who  acted for the Port Authority of Thailand in the review and analysis of the rights and obligations of the state party under PPP projects for six port projects collectively valued at $1.9bn. Other key contacts include Nattaporn Pengkul, who has advised banks and sponsors on infrastructure and energy matters, and senior associate Jirapat Thammavaranucupt, who is particularly active in Eastern Economic Corridor projects.

Practice head(s):

Weerawong Chittmittrapap; Passawan Navanithikul

Key clients

Department of Highways, Thailand

Northern Bangkok Monorail Company

Eastern Bangkok Monorail Company

Global Power Synergy

Thai Airways

Planet Energy Holdings

Thai Oil

Work highlights

  • Acting for the Office of the Eastern Economic Corridor on high speed rail linking three airports connecting Bangkok to the EEC province collectively worth $7.6bn.
  • Advising Thai Airways on the Thai Airbus Maintenance Repair Overhaul Centre based in U-Tapao International Airport.
  • Advised CAT Telecom in relation to Digital Park Thailand, the intended destination for global digital players.
  • Engaged by the Department of Highways to advise on Bang Yai – Kanchanburi Intercity Motorwar (M81) worth $892m.

DFDL Legal & Tax has strengths across the region in the development and finance of infrastructure, renewable, and conventional energy projects, acting for developers, lenders, and investors. The team is jointly led by Audray Souche, who has particular expertise in the mining sector, and Walter Heiser, who specialises in the electric power and coal industries and has decades of experience in project finance in Thailand, Laos and China. Walanchathas Sanguanwong is also recommended for energy-sector matters.

Practice head(s):

Audray Souche; Walter Heiser

Other key lawyers:

Walanchathas Sanguanwong

Key clients

Lomligor

South Pole Carbon Asset Management

International Finance Corporation

Power China

Macquarie Capital

B. Grimm

Work highlights

  • Acted for the Sponsors and lenders including Phonesack Group and Siam Commercial Bank in relation to the Nam Theun 1 hydropower plant in Laos worth $1.2bn.
  • Advised South Pole Carbon Asset Management on the development of a framework and build out design to support the development of the Southeast Asia Renewable Energy Initiative.
  • Assisting Power China in regards to its interest in seeking out potential energy, mining and infrastructure projects in Thailand.
  • Advising the project company of the new Lao-China Railway which will connect Kunming with Lao’s capital Vientiane and the Thai railway system worth $5.9bn.

Linklaters has a broad client base made up of public and private companies and financial institutions, which it advises on project finance matters in the infrastructure, LNG and natural resources, and renewables industries. Headed by Wanwisar Nakarat, the team has been especially active in wind projects. Nakarat is noted for her knowledge and experience of infrastructure funds, project development and financing in a range of sectors. Recent highlights included senior partner Wilailuk Okanurak advising Chevron Thailand Exploration and Production on the implications of Thailand's new amendment to the Petroleum Act.

Practice head(s):

Wanwisar Nakarat

Other key lawyers:

Wilailuk Okanurak

Testimonials

‘They understand the nature and practices of the industry.’

‘Quick responses with exceptional quality always delivered.’ 

Key clients

Phatra Securities

PTT Exploration and Production

Krung Thai Asset Management

Italian-Thai Development Plc.

Thaicom Public Company Limited

KASIKORNBANK

Work highlights

  • Advised Thai Oil on the Clean Fuel Project at their refinery and petrochemical facility Sriracha in Thailand, the project would be a $4bn expansion and upgrade of the facility.
  • Advising the Consortium of Charoen Pokphand Holding Co. Ltd. and Partners in the bidding and all contracts for the development, construction, operation, financing and maintenance of the $7.5bn High Speed Rail Linking Three Airports Project by the State Railway Authority of Thailand.
  • Acting for PT Medco Power Indonesia and RATCH Group as sponsors on the project financing of a 275MW Gas Fired Power Plant Project in Riau province, Indonesia worth $293m.

Norton Rose Fulbright's practice group has experience in the financing and development of energy infrastructure projects, from conventional energy such as oil and gas through to projects in the renewables space. The firm's clients include development banks, international corporates and financial institutions. Tassanai  Kiratisountorn is well versed in project finance, especially in the renewable energy sector acting for both borrowers and lenders, and senior associate Chormas Premsirinirund, who specialises in project finance in the energy sector, is also recommended.

Practice head(s):

Tassanai Kiratisountorn

Other key lawyers:

Chormas Premsirinirund

Key clients

Bangkok Bank

Standard Chartered Bank

Bank of Ayudhya

Export-Import Bank of Thailand

TMB Bank

The Siam Commercial Bank

KASIKORNBANK

IRPC Clean Power

Work highlights

  • Acted for the lenders in financing the acquisition of shares of Glow Energy and ENGIE Holding by Global Power Synergy worth $3bn.
  • Acted for Aura Group to provide financing for renovation and refurbishment of the hotel assets in Thailand worth $80m.
  • Advised Export-Import Bank of Thailand on the $95m financing of construction of a manufacturing facility in Banten in Indonesia.

Watson Farley & Williams (Thailand) Limited has deep experience in the Thai energy sector, and is particularly active in the renewable energy market, where it handles transactional due diligence, EPC contracting and various regulatory mandates. The team is jointly led by Christopher Osborne, who has 'deep knowledge of the energy sector' covering the regulatory and due diligence aspects of municipal waste to energy projects, rooftop solar work and infrastructure matters, and disputes specialist Steven Burkill, who has been involved in energy-related litigation and arbitration in Thailand, Vietnam and Singapore. Ratthakarn Boonnua acted for PTT in a $12m dispute arising out of the failed design, supply and implementation of an integrated commodities trading risk management system.

Practice head(s):

Christopher Osborne; Steven Burkill

Other key lawyers:

Ratthakarn Boonnua

Testimonials

‘Christopher Osborne has a deep knowledge of the energy sector.’

‘Nicharee Pudphetkaew is the person that we always contact when we need to appoint WFW to do anything or when we have legal matter to discuss. She is very responsive.’

‘WFW’s Partner and associate response and advice is very fast. They are very strong in the energy sector with a deep industry knowledge.’

‘WFW is amongst the leading Law firms in Bangkok.’

Key clients

Zublin

Prysmian Power Link

Work highlights

  • Advising on the sale of all of Advanced Power Solutions, an energy business, to Panova, a key transaction in the renewable sector which responded to a recent regulatory change.
  • Advised Wind Energy Holdings on the final stage commissioning of three on shore wind farms totalling 270MW worth $80m.
  • Advising Christiani & Nielsen Energy Solutions on Corporate Power Purchase Agreements for the private sale of electricity generated from rooftop solar projects.

Kudun & Partners specialises in projects work, where is handles investment, financing and development matters in relation to renewable energy, transport, and mining projects. Formerly primary counsel at electricity company B. Grimm Power, founding partner Kudun  Sukhumananda acted for the power company in an outbound investment in a 257MW solar power plant project located in Vietnam. Chinawat Assavapokee, who joined the rapidly growing firm in July 2018, has an expertise in FDI and energy and infrastructure funds.

Practice head(s):

Kudun Sukhumananda; Chinawat Assavapoke

Key clients

B. Grimm Power

IRPC

Big Sea

Pilatus Marine

Sea Oil

Gunkul Engineering

Work highlights

  • Acted as counsel for B. Grimm Power in an outbound investment in a solar power plant project in Vietnam.
  • Acted as counsel representing Siamraj in the acquisition of 25.1% shares from two solar power plant companies, C2C Solutions and Sole Tech Solutions and the acquisition of all shares in techtronic company.
  • Consulted Sea Oil on VAT assessment and mitigation on VAT penalty.

Tilleke & Gibbins' practice works on financing and licensing in regards to PPP's, development projects, EPC's and regulatory compliance. Department co-head Joseph Tomkiewicz, who joined the firm in June 2019, specialises in energy-related transactional and litigation work, and also has experience working with a variety government bodies. Co-head Supasit Boonsanong, who also joined the firm in June 2019, handles cross-border energy transactions and project development mandates for companies in the renewables space, and has also advised governmental authorities on legislative changes. Cynthia M. Pornavalai also co-heads the team.

Practice head(s):

Joseph Tomkiewicz; Supasit Boonsanong; Cynthia Pornavalai

Key clients

Department of Mineral Fuels

Honeywell

PEA Encom

Petroleum Institue of Thailand

Rojana Power

Work highlights

  • Acted for a Thai public company in the acquisition of 30% of share in an investment vehicle for a water treatment plant project in Laos.