Allen & Overy has advised Xe-Pian Xe-Namnoy Power Company and its sponsors in connection with the $1.02bn (£624.4m) 410MW Xe-Pian and Xe-Namnoy cross-border hydropower project located in the Lao People’s Democratic Republic. This is the first significant investment by Korean sponsors in this sector.
The project, which achieved financial close on 5 February 2014, is a joint venture between the Lao government and a consortium of private sector sponsors. It will take approximately five years to complete and is scheduled to start commercial operations in 2019.
Allen & Overy advised the sponsors, a group comprising SK Engineering & Construction, Korea Western Power, Ratchaburi Electricity Generating Holding Public Company and Lao Holding State Enterprise, on all aspects of the development, financing and construction of the project.
Stephen Jaggs led the Allen & Overy team from Bangkok with support from lawyers Anchalee Limviriyalers, Chris Bishop, Sadi Tanmanatragul, Sarah Wilson, Vorasaree Wangwittiya, Adam Reekie, Matthew Del Rosso, Wipawat Yingsakmongkol and Monsicha Pongrujikorn. Charlie Grover (counsel) in Singapore provided support on the construction and operation arrangements with assistance from Kyle Sanderson and Matt Chow.