Herbert Smith Freehills (HSF) and Slaughter and May have taken lead roles on French Energy company EDF’s investment for Hinkley Point C nuclear project.
HSF has advised long-standing client EDF on the agreement of the contract to build the UK’s first nuclear power plant for a generation – with the development of two European Pressurised Reactors at the Hinkley Point C (HPC) site in Somerset.
In the £16bn deal, HSF’s team is led by London partner Julia Pyke, who is the firm’s co-head of Nuclear. The team has been advising EDF on this project since 2006.
“HPC is an immensely interesting project to advise on, involving a very wide spectrum of legal issues, and we are fortunate to work closely with a very talented in-house team at EDF,” said Pyke. “Getting a project of this size and complexity to its current milestone is a huge achievement for all involved.”
The in-house team of EDF is headed by Chris Hamill, head of legal and company secretary of EDF Energy Nuclear New Build, and Guido Santi, EDF’s UK general counsel.
Slaughter and May’s head of financing Paul Stacey has advised the Department of Energy and Climate Change.
Negotiations with other potential investors regarding equity investment into the project company are currently on going. Potential investors include AREVA and two Chinese companies China General Nuclear Corporation and China National Nuclear Corporation, among others. It is understood that these investors are still in the process of instructing external advisers.