Energy

Our Energy Law Department has a very strong presence in the Greek market with extensive experience on a wide array of transactions. Our main clientele are major multinationals from various jurisdictions. Our expertise touches the following sectors:

Project Development and Investments:
A key area of our practice is to assist investors in acquiring energy related projects or participating in relevant joint ventures. The firm offers integrated advice which covers all stages of an energy project,such as structuring, public tendering, state and EU subsidies, regulatory permits, contract negotiation, project financing, approvals by other authorities such as RAE and the Competition Commission, addressing issues of contract interpretation etc.

Dispute Resolution:
We also have very extensive experience in energy projects related disputes with a special focus in ICC arbitrations. Our recent work includes: (i) ICC Arbitration between a major construction company and an oil refinery with total claims exceeding €150 million (collaboration with international counsel); (ii) Litigation before the Greek Courts and concurrent ICC Arbitration between Greek energy producer and major international equipment supplier with a total value at stake over €70 million (collaboration with international counsel). Participation to such disputes requires the in depth understanding of various technical concepts relating to energy production.

Privatizations:
This is another strong subsector for our Department, since we have been involved in all major energy related privatizations processes that have taken place in Greece, as indicated in more detail below under Recent Highlights. As a result we have gained an in depth perception of the current legislative framework on the energy sector, working on highly innovative issues such as the certification of the transmission system operations for natural gas and electricity under the new regime introduced by the 3rd Energy Package.

Day to day services:
Finally, we have a strong expertise in providing day to day services to energy related companies. Such services include primarily the negotiation, implementation and monitoring of relevant contracts, such as maintenance contracts for the relevant power generation plants. Moreover services also include assistance to the licensing and development of energy projects.
Recent Highlights
Project Development and Investments:
  • shareholding agreement for a Joint Venture on global energy projects with a starting capital of 500M€;
  • SPA for the transfer of two major PV parks (under development) to an interested developer;
  • participation to a project for the acquisition of a major Greek electricity plant by foreign investors;
  • reviewing the process of defects remedy and final acceptance in relation to four major PV projects owned by our client;
  • investigating the possible legal actions in relation to recent reductions of the feed-in tariffs by the Greek Government;
  • conducting due diligence in relation to the license status of renewable energy plants.
Dispute Resolution:
 
  • ICC Arbitration between a major construction company and an oil refinery with total claims exceeding €150 million (collaboration with international counsel);
  • Litigation before the Greek Courts and concurrent ICC Arbitration between Greek energy producer and major international equipment supplier with a total value at stake over €70 million (collaboration with international counsel). Participation to such disputes requires the in depth understanding of various technical concepts relating to energy production.
Privatizations:
Our firm has actively advised both the tender authorities (in most cases the HRADF) as well as potential investors in a number of recent energy related privatizations processes in Greece, such as:
  • The largest natural gas supplier in Greece (“DEPA S.A.”, with a value of around 1 billion euros), advising the HRADF as tender authority throughout the relevant tender process;
  • the natural gas transmission system operator in Greece (“DESFA S.A.”, with a value of around 400 million euros), advising the HRADF as tender authority throughout the relevant tender process;
  • Hellenic Petroleum S.A., one of the largest oil companies in the Balkans, advising the HRADF as tender authority;
  • the Independent Power Transmission Operator, which runs about 11,000 kilometres (7,000 miles) of high-voltage power lines across the country (“ADMIE S.A.”), advising a potential investor.