Slaughters earns £12m for advice to government on Hinkley Point nuclear power plant
Magic circle firm paid £12m by Department of Energy and Climate Change on nuclear deal
November 22, 2016 at 06:46 AM
3 minute read
Slaughter and May has received £12m in legal fees from the government in relation to its advice on the Hinkley Point C nuclear power plant project.
The magic circle firm has been advising the Department of Energy and Climate Change in connection with the £18bn plans to build Hinkley Point C, which will be the UK's first new nuclear power station for 20 years.
The fees were revealed in a freedom of information (FoI) request by The Times, which showed that Slaughters received nearly three times more in fees than the next best paid adviser, big four accountant KPMG, which received £4.4m. Financial adviser Lazards has been paid £2.6m, with management consultancy Leigh Fisher securing £1.2m according to the FoI.
Slaughters' team on the long-running matter is being led by financing partner Paul Stacey, banking partner Robert Byk, corporate partner Robert Chaplin and competition special adviser Jackie Holland.
The controversial development has secured roles for numerous firms, including Herbert Smith Freehills (HSF), which advised French energy company EDF on its planning application; Pinsent Masons, which advised the local authorities on the planning application; Eversheds, which advised China National Nuclear Corporation (CNNC) on its investment in the project; and Ashurst, which acted for China General Nuclear Power Corporation on the deal.
HSF fielded a team of more than 30 lawyers on the project, led by planning partner Matthew White. Other HSF partners to have been involved in the project include UK real estate head Julian Pollock, energy partner Julia Pyke and disputes partner Nusrat Zar.
Clifford Chance (CC) is also acting for EDF on matters such as the £6bn investment in the project by CNNC and on helping secure European state aid approval from the European Commission.
The CC team is being led by London energy partner John Wilkins and also includes Paris energy partner Richard Tomlinson, London corporate partner Jenine Hulsmann and Paris corporate partner Thierry Schoen.
Pinsents' team for the local authorities was led by planning partners Richard Ford and Jonathan Riley, Eversheds' was led by Beijing corporate partner Jay Ze and London energy partner Rob Pitcher, and the lead Ashurst partners were energy lawyer David Wadham and corporate partner Robert Ogilvy-Watson.
The Somerset-based power plant is expected to be first operational in 2025.
Slaughters declined to comment.
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