Energy & Environment

We have vast experience in advising market leaders on the compliance, management, development and financing of their activities in these sectors and our lawyers have advised on many of the major pioneering energy and resources projects to have taken place in Greece.

Our clients include market leaders in the conventional energy and renewables industries, international energy companies, financing institutions and lending banks, as well as government bodies, to whom we provide advisory, transactional and litigation services.

We have years of experience in drafting transaction documents and advising participants on the commercial, development and financing aspects of domestic and cross-border conventional and renewable energy projects and transactions. We also have an expertise in risk and compliance in these highly regulated industries.

Conventional Energy
We have been involved in most of the major transactions to have taken place in the conventional energy sector in Greece and our clients include oil and gas, electricity, water and mining companies, the government and State-owned companies, private and institutional investors, financial advisers and developers. We have advised on landmark matters such as the privatisation of the Water and Sewerage Companies of Athens and Thessaloniki, the Public Power Corporation (PPC) and the Public Gas Corporation (DEPA), which opened the way for the privatisation of the Greek energy sector, and on the more recent ground-breaking tenders for the lease of hydrocarbons exploration and production rights. We have a cross-practice expertise in capital markets, financing and corporate deals in the energy industry. Our track record in structuring energy development projects as commercial transactions is substantial and we document a broad range of commercial agreements in this sector.
Energy & Infrastructure
Our practice has acted in pioneering energy projects and advises on the entire life cycle of transactions. We have an expertise in oil and gas, transport, electricity, water and mining financing, acquisition and development projects and clients include sponsors, lenders and the government.
Energy Regulation
Our practice is highly experienced in advising on compliance with the significant regulatory and legislative requirements governing activities in the energy sector. We monitor developments affecting our clients’ commercial activities and proactively identify regulatory challenges and opportunities. We are skilled in advising on licensing and permits, tariffs, trading, import and export and production in the gas and electricity fields. We have also been extensively involved in the liberalisation of the electricity and gas markets and the implementation of community legislation.
Renewable Energy & CHP
We are at the forefront of the renewables and CHP markets in Greece, with a dynamic practice advising on the development and finance of wind, solar, hydroelectric, biofuel, biomass, hybrid, storage and geothermal projects, which is growing with the market.
Environmental Law
We take a proactive approach to compliance in the environmental law sector which is increasingly affecting the way the majority of companies work. We endeavour to ensure that our clients are in a position to meet the complex and exacting requirements of the regulators. Our practice is well placed to advise on the environmental risks and liabilities arising in the context of mergers, acquisitions, projects and privatisations. We conduct environmental impact assessments, undertake project categorisation and advise on the process for obtaining permits and licences. If disaster strikes, we represent our clients in litigation arising from environmental contamination and compliance failures.
Recent Experience
Sale of Hellenic Electricity Distribution Network Operator
We advised CVC in their participation in the tender conducted by the Public Power Corporation for the sale of 49% in Hellenic Electricity Distribution Network Operator (HEDNO).
Motor Oil Acquisition of 12 Wind Farms
We advised Motor Oil on the acquisition from a leading global investment fund of a portfolio of 12 wind farms with a total capacity of 240MW, the biggest part of which is located in central and northern continental Greece. The acquisition was part of the acquisition of a wider portfolio of wind projects with a total capacity of 650 MW.
Acquisition of PV plants by Hellenic Petroleum
We advise a subsidiary of Hellenic Petroleum, one of the largest oil companies in the Balkans, in relation to their potential acquisition of a PV project portfolio.
Development and Acquisition of Wind & PV Projects
We advise an Israeli RES developer on the development of wind projects and acquisition of a portfolio of 380MW early-stage PV projects in Greece.
DEPA Infrastructure Privatisation Tender
We advised an international consortium comprised of SINO-CEEF and DAHZONG SHANGAI UTILITY in their participation in the tender conducted by the Hellenic Republic Asset Development Fund (HRADF) for the privatisation of DEPA Infrastructure and its subsidiaries which own and operate the Greek natural gas distribution network.
DEPA Commercial Privatisation Tender
We are advising a consortium consisting of two major energy companies in their participation in the tender conducted by the Hellenic Republic Asset Development Fund (HRADF) for the sale of a majority stake in DEPA Commercial and its subsidiary EPA Attikis, the leading Greek natural gas retailer.
Tender for Acquisition of 66% in DESFA
We advised a consortium of S.N.T.G.N. Transgaz SA, the European Bank for Reconstruction and Development (EBRD), Reganosa Asset Investments, SL and Regasificadora del Noroeste SA in the tender for the acquisition of a 66% stake in National Natural Gas Transmission System Operator (DESFA) involving the sale of 31% in DESFA held by the Hellenic Republic Asset Development Fund (HRADF) and the 35% held by Hellenic Petroleum, with the remaining 34% being transferred to the Hellenic Republic.
Advice to Dutch Infrastructure Fund
Together with Ashurst, we advised Dutch Infrastructure Fund on regulatory requirements and conducted due diligence in relation to the acquisition of PV plants in Greece, in the context of their acquisition of a majority stake in IB Vogt GmbH.
Acquisition and Development of Photovoltaic Plants by Middle Eastern Sovereign Fund
We advise a consortium comprised of a Middle Eastern sovereign fund and a European renewable energy investor in the acquisition and development of several photovoltaic parks in Greece.
Alexandroupolis LNG Project
We act for Gastrade in relation to the development and financing of the Alexandroupolis Independent Natural Gas System (INGS), a c.€360m cutting edge technology project comprising an offshore floating unit for the reception, storage and regasification of LNG and a system of a subsea and an onshore gas transmission pipeline.
Gas Interconnector Greece - Bulgaria (IGB Pipeline)
We advised the joint venture company ICGB AD on the development of the Gas Interconnector Greece-Bulgaria (IGB Pipeline), which will provide a direct link between the national natural gas systems of Greece and Bulgaria with an entry point in the vicinity of Komotini and an exit point in the vicinity of Stara Zagora.
Independent Power Transmission System Operator Privatisation
We advised a European TSO in relation to their potential interest to invest in the Independent Power Transmission System Operator (IPTO) in the context of its contemplated part-privatisation.
European Infrastructure Fund Participation in Tender for the Sale of 65 PV Parks
We acted for a European infrastructure fund in their participation in the tender process conducted by the Mytilineos Group for the sale of 65 PV Parks.
Car Manufacturer Entry to Electromobility Μarket
We advise a number of European car manufacturers in relation to their entry into the Greek electromobility market and launch of electric vehicles charging services in Greece.
Prinos Oil Concession
We act for the Hellenic Republic in relation to the provision of temporary operating aid to the Prinos Oil Concession project company due to the Covid-19 pandemic.
Regulatory Advice to Shell
We are advising Shell in relation to regulatory matters pertaining to the licensing of their power and gas trade activities in Greece.
RWE Natural Gas and Power Regulatory Advice
We are advising RWE Supply and Trading in relation to regulatory matters pertaining to the licensing of their power and gas trade activities in Greece.
River Strymon 2MW Hydropower Plant
We acted for the sponsors in connection with the development of a 2MW hydropower plant in river Strymon in Northern Greece on the financing by the National Bank of Greece SA (NBG Greece) acting as bondholder agent and bondholder and NBG Bank Malta Ltd (NBG Malta) acting as bondholder, by way of two €3.65m bond loans. The transaction also included c.€3m intra-group financing. Under a Chinese Walls arrangement, we also represented the project's financiers. Our scope of work included advice on the project and finance documentation.
Trans Adriatic Pipeline AG (TAP) Project
We advised together with Clifford Chance, a consortium of international financing institutions including the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) on the project financing of TAP's development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca, under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe, Enagas Internacional, SLU and Axpo Trading.
China Three Gorges Acquisition of EDP Energias de Portugal
We acted for China Three Gorges, a Chinese State-owned power company, in the acquisition of EDP Energias de Portugal, which operates, through EDP Renovaveis, a number of wind parks in Livadi and Aerorachi.
International Licensing Round for the Exploration and Exploitation of Hydrocarbons - Offshore Greece
We advised Hellenic Petroleum, acting either alone or as a member of a consortium with other international oil majors, in its participation in the tender processes launched by the Hellenic Republic (Ministry of Energy) and the Hellenic Hydrocarbon Resources Management Company with respect to Offshore Blocks in certain areas in Greece.
Recognitions