The following Energy practice note Produced in partnership with Dentons UKMEA LLP provides comprehensive and up to date legal information covering:
Author: James Todd. With thanks to David Cruickshank and Jamie Dunne
The purpose of this note is to discuss key issues which are relevant to the project financing of gas peaking generation projects (also often referred to as ‘gas peakers’). The note will focus on possible ways to ensure stable revenue streams for these projects and how to minimise liability for, and maximise visibility of, costs. In general we do not report on more standard contractual positions eg whether security may or should be sought from counterparties, assignment in security, drafting of funder direct agreements or collateral warranties etc although these are also relevant and should be considered by legal advisers where appropriate. For an introduction to the key documents associated with project financing, see Practice Note: Project finance—key finance documents.
As such, although this note has been written with project finance in mind specifically many of these issues will also be relevant when carrying out due diligence on equity transactions.
For those interested in further detail on the nature of ‘gas peaking’ projects and the key forms of subsidy/support available to them, this Practice Note should be read in tandem with Practice Note: Gas peaking projects—what are they and what key subsidy/support regimes are available to them?
This Practice Note is structured as follows:
property and planning risks
operation and maintenance
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