Riverstone Energy Limited Announces European Power Commitment
Vinson & Elkins advised Riverstone Holdings LLC, the Manager of Riverstone Energy Limited, in connection with the formation of Onyx Strategic Investment Management I BV, a newly formed European independent power producer, and its signing of an agreement to acquire a fleet of coal- and biomass-fired power stations from affiliates of ENGIE S.A.
The assets to be acquired comprise approximately 2,350 megawatts of gross generation capacity (approximately 2,000 megawatts net) and include two of Europe’s most recently constructed thermal plants, which benefit from high efficiencies, substantial environmental controls, very low emissions profiles and the potential use of sustainable biomass. Riverstone expects the Company to be a critical component in the provision of reliable power generation in Western Europe and to serve as a platform for future opportunities in European power generation.
The V&E corporate team was led by partner Trina Chandler, with assistance from senior associates Matthew Greenberg and Jeannie Poland and associates Dom Kinsky and Nettie Downs. Also advising were partner Doug Bland; partner Tzvi Werzberger and associate Blair Marsteller; partners John Kupiec and Caroline Phillips; senior associate Matt Dobbins; partner Sean Becker; partner Stephen Jacobson and associate Gina Hancock; partners Jenny Doak and Jason McIntosh, senior associate Andrew Callaghan and associate Megan James; and counsel Sarah Mitchell.
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