Field Fisher Waterhouse advises Agrinergy on key green joint venture with RWE
15 December 2008
Field Fisher Waterhouse LLP has advised the
founding shareholders of Agrinergy Pte Ltd and existing investor
Rivertrade Limited on the sale of 50% of their shareholding in
Agrinergy Pte Ltd to RWE Power Climate Protection GmbH creating a
key partnership between the two. The founding shareholders,
Rivertrade Limited and RWE also entered into a Shareholders
Agreement to govern the resulting 50/50 joint venture.
Agrinergy is a provider of carbon credit
services with a focus on projects related to the Kyoto Protocol’s
Clean Development Mechanism (CDM). The CDM is an arrangement under
the Kyoto Protocol, allowing industrialised countries with a
greenhouse gas reduction commitment to invest in projects that
reduce emissions in developing countries.
The partnership between Agrinergy and RWE brings
together Agrinergy’s in-depth CDM know-how and experience and RWE’s
own CDM expertise and financial backing and together the parties
aim to develop new CDM projects and strengthen existing and future
customer relations.
Agrinergy provides companies in the developing
world with an end-to-end solution for carbon credit related
projects, its CDM project portfolio covers sectors from
agro-processing, blended cement, municipal waste, biomass, sugar
and waste heat recovery and has operations in Singapore, India,
Indonesia, Thailand and in the UK. RWE Power Climate Protection
GmbH is a subsidiary of listed company RWE Power AG, one of
Europe’s five largest utility companies, and operates some 100 CDM
projects in China, India, Egypt, South Korea, Chile and
Vietnam.
Field Fisher Waterhouse corporate partner Dominic Gurney-Champion led on the deal and was
assisted by solicitor Charu Babel and trainee Claire Simpson.
This latest deal demonstrates Field Fisher
Waterhouse’s experience advising a range of companies in the green
and sustainable sector. Other clients include G24, a
manufacturer of a new solar power technology and Tesla motors, the
Californian based clean energy sports car manufacturer. The firm
also acts for three of the top 50 individuals recently tipped by
the Guardian as those most likely to save the planet.
Dominic Gurney-Champion said: “We are pleased to
have advised Agrinergy on this deal. The combination of Agrinergy’s
and RWE’s CDM project management experience, with RWE’s financial
backing, will create a broader portfolio of services, to develop
more CDM projects, which are key for global climate
protection.”
Other firms involved were BSL (Singapore) and
Crawford Bayley (India). RWE Power Climate Protection GmbH was
advised by Clifford Chance.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120.
Margherita Orlandini, PR
Executive, Field Fisher Waterhouse LLP on +44 (0)20 7861 4995.