We have significant experience in the power sector, including in thermal generation, nuclear power, as well as electricity storage, networks, and supply. Our clients frequently come to us for advice on innovative and pioneering energy projects, embodied by novel structures and tailored contracts that demand a bespoke approach. From groundbreaking nuclear power initiatives to pioneering carbon capture plus power projects, we are at the forefront of transformative developments in the sector, both in the UK and internationally.
We frequently represent a variety of stakeholders in the market, including utilities, independent power producers, investors, project sponsors, network operators, funds, financial institutions, and governmental bodies. Our track record includes advising on the first nuclear power station to be constructed in the UK in over two decades, marking a significant milestone in the country's energy landscape. Additionally, we were instrumental in shaping the regulatory framework for the first renewables Contracts for Difference (CfDs).
Whether it's navigating regulatory hurdles, structuring bespoke agreements, or mitigating risks inherent in project delivery, our comprehensive approach ensures that clients receive tailored solutions that meet the unique demands of their projects.
Key experience
Castleton Commodities International
We advised CCI on its subsidiary's majority equity stake in L48 Energy, a company that originates, builds, owns and operates large-scale energy storage systems. Based in the UK, L48 Energy is an independent pure-play battery energy storage “originator to operator” and aims to develop, build and own grid-scale batteries at crucial locations in the UK, with possible expansion into other European markets.
ContourGlobal
We advisedContourGlobal plc, an international owner and operator of contracted wholesale power generation businesses, on the disposal to Pátria Investments of nine run-of-river hydro-electric generating power plants in Brazil by a majority-owned subsidiary of ContourGlobal.
EDF Energy
We advised EDF Energy on the entry into revised arrangements with the UK government and the Nuclear Decommissioning Authority (NDA) to deliver the safe and efficient decommissioning of the UK’s seven advanced gas cooled reactor (AGR) power stations.
The UK’s AGR power stations are scheduled to reach the end of their working lives on a rolling basis by 2030.
ENGIE
We advised ENGIE S.A. in relation to its negotiations with the Belgian Government concerning a ten-year lifetime extension of two nuclear units. The project includes the structuring and joint venture arrangements between ENGIE and the Belgian State; a new cap on liability for nuclear waste; a contract for difference and remuneration mechanism; and new O&M arrangements in relation to the two nuclear units.
This is a significant project for ENGIE, as it represents a change of strategic direction with respect to Belgian nuclear power and it will involve an unprecedented lifetime extension for its Belgian nuclear assets on a challenging timetable, requiring a large-scale mobilisation of its human and operational resources.
Misubishi/OVO
We advised Mitsubishi Corporation on its acquisition of a 20% stake in OVO, and OVO’s subsequent acquisition of SSE’s GB household energy and services business.
Northern Powergrid
We advised Northern Powergrid on its successful and “first of its kind” appeal to the Competition and Markets Authority against Ofgem’s ED1 price control decision for electricity distribution.
Viridor & KKR
We advised Viridor and KKR in connection with the sale to Equitix of a 20% equity stake in Viridor Energy Limited, the Viridor group’s energy recovery and energy from waste business, which includes eleven operational energy recovery facilities in the UK. Slaughter and May has previously advised in respect of the acquisition of Viridor, the restructuring of the Viridor group and the sale of Viridor’s collections business and certain recycling assets to Biffa plc.
YTL Power
We advised YTL Power International Berhad ("YTL Power") on the acquisition of the power plant and associated assets of Tuaspring Pte Ltd (the “Assets”) through its subsidiary, Taser Power Pte. Ltd (“Taser”), part of the YTL PowerSeraya Pte Limited (“YTLPS”) group, for total cash consideration of SGD270,000,000.
