Links, A&O and Norton Rose maintain standing in much-touted renewables sector
Linklaters topped the value rankings in the growing renewable energy sector, with the firm advising on 13 deals worth $5.87bn (£4.09bn). Research from Infrastructure Journal found there were 230 renewables deals during 2008 - making it the most active single sector by number of transactions - with the deals worth a total value of $37.31bn (£26bn).Linklaters global projects chief Bruce White said: "The fundamentals of energy and infrastructure remain. There are still healthy levels of renewables work and nuclear and thermal power plants are definitely on the agenda."
February 19, 2009 at 12:05 AM
2 minute read
Magic circle firm leads the way in renewables deals; Norton Rose and A&O highest placed UK firms by volume
Linklaters topped the value rankings in the growing renewable energy sector, with the firm advising on 13 deals worth $5.87bn (£4.09bn).
Research from Infrastructure Journal found there were 230 renewables deals during 2008 – making it the most active single sector by number of transactions – with the deals worth a total value of $37.31bn (£26bn).
Linklaters global projects chief Bruce White said: "The fundamentals of energy and infrastructure remain. There are still healthy levels of renewables work and nuclear and thermal power plants are definitely on the agenda."
Spanish leader Garrigues advised on the largest volume of deals in the sector overall with 33 transactions, and also sat in second place in the value rankings, followed in third place by US firm Milbank Tweed Hadley & McCloy, which advised on 15 deals worth $3.8bn (£2.62bn).
Meanwhile, Norton Rose and Allen & Overy (A&O) were the highest-placed UK firms in the market by volume. Both advised on 17 renewables deals. A&O advised on deals worth just over $3bn (£2.06bn) including Norwegian developer Fred Olsen's refinancing of four UK wind farm projects and the financing of a new wind farm worth £305m.
Norton Rose, meanwhile, advised on $2.78bn (£1.91bn) of deals including a role advising Crown Estate on an offshore wind farm project that aims to provide up to 25 gigawatts of power to the UK by 2020.
Commenting on the deal market, Milbank's European managing partner Phill Fletcher said: "The sources of financing are changing, with multilateral and export credit agencies taking up the slack left from the difficulties faced by commercial banks. Project finance remains active as most of the projects we work on will be there for decades and demand for them will remain high over their life."
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