Electricity

In the electricity sector, still a relatively-young sector, our most significant work has involved advising the newly-formed Nigerian Bulk Electricity Trader plc (“Bulk Trader”) on negotiating power purchase contracts and vesting contracts, and on its payment support package options. 

The Bulk Trader will be by far the largest buyer and seller of electricity in the nation.  It is central to the ongoing programme to reform, privatize and commercialize the electricity sector.

We have also advised on pioneering project financings for lenders to an independent power producer, and a joint venture between a state government and a private operator respectively.

We have also advised on the take-over of a private power producer and on a sector-first private placement of shares by an electric power producer with plans to get listed.

A leading indigenous developer of electric power generation facilities has engaged us to advise on spinning off the captive part of its business and on growing its portfolio of captive assets.

We have advised a prospective strategic investor on a combination of debt and equity investments in a series of small independent power projects and litigation over the award of a “BOT” contract award for a huge hydro-electric power project.