Energy & Infrastructure

Ellex Klavins has significant expertise in advising clients on a broad range of issues in all energy sectors, including electricity, renewables, nuclear, gas, oil and heating. Our consistent involvement in major regional energy projects and initiatives has given us thorough knowledge, expertise and competence.  This enables us to assist the world’s major trans-national and top national companies in complex and innovative transactions. Our experts represent clients before regulatory authorities, national and arbitration courts. We are also able to offer advice on complex issues of energy law that have European or international dimensions.
Key projects in the field

Key contacts

Daiga Zivtiņa

Partner

Head of Dispute Resolution Practice
+371 6781 4848
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Ilga Gudrenika-Krebs

Partner

+371 6781 4848
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Liga Merwin

Managing Partner

Head of EU & Competition Practice
+371 6781 4848
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Raimonds Slaidiņš

Senior Partner

Head of Corporate and M&A practice
+371 6781 4848
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What's new in field
We advised Uniper Ruhrgas International in key transaction on its exit from the Latvian gas transmission and gas storage market
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Key projects in the field

Ellex advised Enefit Green with the acquisition of Nelja Energia
Ellex team advised the third biggest Estonian deal ever where Eesti Energia AS's fully owned subsidiary Enefit Green AS acquired Nelja Energia AS.
 
On 29 May 2018 Eesti Energia AS's fully owned subsidiary Enefit Green AS as the buyer, and Vardar Eurus AS and minority shareholders as the sellers entered into a Share Purchase Agreement regarding all the shares in Nelja Energia AS, a renewable energy producer and developer in the Baltic countries. The transaction remains subject to approval by the County Executive Board of Buskerud County Administration, and customary approvals and clearances by relevant competition authorities.
 
The consideration payable for 100% of the shares of Nelja Energia amounts to 289 million EUR. In addition, the buyer assumes Nelja Energia’s net debt which amounted to 204 million EUR as at the end of 2017.
 
The transaction concerns 100% of the shares of Nelja Energia AS. Vardar AS has agreed (through its subsidiary Vardar Eurus AS) to sell its 77% holding of the shares in Nelja Energia. The remaining 23% of the shares is acquired from a number of Estonia based minority investors.
 
The Ellex Raidla team in Estonia included Partners Sven Papp, Martin Käerdi, counsels Triin Frosch, Toomas Kasesalu, Senior Associates Alla Kuznetsova, Sandra Värk, Gerly Lõhmus, Rauno Klemm, Martin Mäesalu, Associate Triin Tiru, Lawyers Anna Trine Raudsepp and Kevin Gerretz. In Latvia the client was advised by Partner Raimonds Slaidins, Senior Associate Iveta Ceple and Associates Marta Cera and Beata Plocina. The Ellex Valiunas team was led by Partner Paulius Gruodis and included Associate Mantas Juška and Junior Associate Arvydas Grušeckas.
 
Ellex Klavins advises on major transaction for sale of shares in Latvia’s natural gas utility
Ellex Klavins advised Uniper Ruhrgas International GmbH (formerly E.ON Ruhrgas International GmbH) on the sale of a major stake in Latvia’s sole natural gas utility, AS “Latvijas Gāze” (LG). LG is a Top-10 Latvian company, listed on the NASDAQ stock exchange, with the exclusive rights in Latvia to storage, transmission, distribution and trading of natural gas. The seller, Uniper, part of a global energy company headquartered in Germany, has been a shareholder in LG since its privatization in 1997. The buyer, Marguerite Fund, is a specialized investment fund, backed by six major European financial institutions as well as the European Commission, with the mission to make capital-intensive investments in energy and transport infrastructure projects.
 
The LG transaction, one of the largest share sale transactions in Latvia in recent years, required multiple innovative solutions to complex regulatory, legislative and legal issues that arose during lengthy negotiations, and occurred against the backdrop of the challenging geopolitical situation impacting the region and the energy markets. The transaction was particularly complex in that it was negotiated and executed concurrently with the “unbundling” of the natural gas market in Latvia as required by EU Directives, wherein Latvia is to imminently adopt legislation that will require both the legal and ownership separation of the natural gas transmission and underground gas storage facility assets of LG from its natural gas trading activities.
 
The share sale transaction was executed on 28 January 2016. The purchase price is confidential. Uniper was advised by a multi-disciplinary team of Ellex Klavins lawyers led by Ivars Slokenbergs, Senior Counsel.
 
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We represented Swiss company Stadler Bussnang in a complex litigation process in Latvia
Our team consulted and represented Stadler Bussnang, the Swiss manufacturer of locomotives, in administrative court proceedings related to the public procurement of new trains. The value of the transaction was 429,24 million Latvian lats. The litigation was initiated by Stadler Bussnang against the Procurement Monitoring Bureau of Latvia, the Latvian company Pasazieru vilciens and a Spanish company Construcciones y Auxiliar de Ferrocarriles. The case possessed a political nature and was widely discussed.