Legal and Commercial Advice on gas fired IPPs
EMRC provided transaction advice to GECOL, the state utility, on the implementation of the first IPPs in Libya.
- The initial transaction was the transfer of an existing 6*156MW GT plant to a Joint Venture that included Oasis International Power.
- Provided GECOL with full support in negotiations for an IPP agreement.
- Advised on the detailed financial negotiations which included detailed modelling of capacity and energy payments under the PPA and the shadowing of the Joint Ventures financial advisers HSBC as they raised commercial finance for the project.
- Presented workshops to introduce GECOL staff to the concepts of an IPP, and for an understanding of the potential benefits and risks.
- Reviewed and assessed all proposed documents relating to the IPP agreement in its operational, commercial, financial and legal aspects.
- Development and set up of a data room.