UK projects teams earn their stripes as MoD makes key changes to army deal

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Freshfields Bruckhaus Deringer and CMS Cameron McKenna reprised their advisory roles as the Ministry of Defence (MoD) made a £1.1bn extension to the largest accommodation private finance initiative project it has undertaken.

In November the MoD amended its long-running Project Allenby/Connaught contract to include an army basing programme, which will provide new accommodation and improve facilities for soldiers. Negotiations have ensured the original transaction, which had a value of £8bn and was signed in 2006, will continue without disruption.

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Rolling on: Pinsents sole supplier deal with E.ON to run full term

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Energy giant E.ON has confirmed its five–year single-supplier mandate with Pinsent Masons will run its full course, with the energy supplier electing not to exercise a three-year break clause after appointing the firm as sole legal adviser for general matters in October 2013.

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Big month for renewables as Linklaters acts on offshore windfarms with combined worth £3.9bn

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Linklaters has advised on the development and financing of the first two UK offshore wind projects to obtain financing under the government’s new ‘Contract for Difference’ (CFD) regime, worth £2.6bn and £1.3bn respectively.

The Magic Circle firm advised on the construction and financing of the offshore windfarm Beatrice located in the Outer Moray Firth, worth £2.6bn, and advised the developers on the £1.3bn long-term financing for the development of one of the world’s largest offshore windfarms, the Dudgeon windfarm off the east coast of England.

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Running on empty – how to survive in the Middle East in the era of cheap oil

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Oil price volatility is a fact of life in the Middle East. At below or around $40 a barrel, the region has been dealt a hard dose of realism. Developing economic models that rely less on oil and gas revenues is now the order of the day, while national governments have had to rein in notoriously lavish spending programmes.

Law firms that rushed into the Middle East as it became a significant driver of global economic activity amid soaring oil prices a decade ago, now have to review their strategies. Continue reading “Running on empty – how to survive in the Middle East in the era of cheap oil”