Global, 31 January, 2013 - Premier global law firm Baker & McKenzie has been recognized with five prestigious "Deal of the Year" awards at the Project Finance International (PFI)
"Project Finance is a key area of strategic focus for us and this recognition from a benchmark publication for the projects industry underlines the progress we are making in a number of industry sectors, as well as our unrivalled global reach," said Bernard Sharp, Baker & McKenzie’s chair of the Global Banking & Finance practice.
The five winning deals the Firm advised on are:
"Wind Deal of the Year" for Marena Renovables
We represented Macquarie Mexico Infrastructure Management S.A de C.V. in connection with the sale of certified emission reductions from one of its projects in Mexico to BP Gas Marketing Ltd. The Marena Renovables, with a total cost of approximately US$1 billion is the first renewable energy investment project in Macquarie Mexican Infrastructure Fund's portfolio. The sale of certified emission reductions was led by Richard Saines (Chicago) and Skip Rankin (New York).
"Power Deal of the Year" for Gulf U-Thai power
Partners Komkrit Kietduriyakul, Viroj Piyawattanametha and Theerapab Punyasakhon (Bangkok); Chew Chin (Singapore); and Ean MacPherson (Tokyo) advised Gulf JP UT Company Limited, a subsidiary of Gulf JP Company Limited, as borrower on a US$1.27 billion financing facility, granted in Thai Baht and US dollars and provided by Thai financial institutions.
"Infrastructure Deal of the Year" for Sydney Desalination
We advised on the US$2.3 billion Sydney desalination plant privatization. Located in Kurnell, the desalination plant is the largest desalination plant operating in Australia and is fully powered by renewable energy. The lawyers involved in the deal included Sydney partners Michael Kunstler and Lewis Apostolou, who represented the Ontario Teachers’ Pension Plan Board.
Europe, Middle East & Africa
"African Renewables Deal of the Year" for Lesedi & Letsatsi
We advised SolarReserve as a part of a consortium (comprising South Africa investment and financial advisors Kensani Group and South Africa renewable energy developer Intikon Energy) which closed a US$586 million financing for two solar photovoltaic projects in South Africa’s Free State and Northern Cape. The two projects known as Letsatsi and Lesedi were led by partners Chris Moraitis (Johannesburg) and Jim O’Brien (Chicago). View press release.
"Petrochemicals Deal of the Year" for Egyptian Refining Company
We provided Egyptian law advice to the lenders on the US$3.7 billion project financing for the Egyptian Refining Company (ERC) greenfield refinery project in Mostorod, near Cairo. The package included US$1.135 billion of equity, US$2.35 billion of senior debt and US$225 million of subordinated debt. The lawyers who acted on the deal were Mohamed Ghannam and Ghada El Ehwany (Cairo). International Financial Law Review (IFLR) also named the deal Project Finance Deal of the Year. View press release.
The winners were selected by PFI’s expert journalists and are based on submissions made by market participants in the Americas, Asia Pacific, Europe and Middle East & Africa. The decisions were then made on follow-up market soundings at year end and from the extensive knowledge of the deals acquired by the PFI journalists during the year.