In-House Community has awarded DFDL with its Projects & Energy Deal of the Year for 2021. The prestigious honor was awarded to DFDL for a complex, cross-border deal for B.Grimm Power to heavily invest in solar power in Cambodia.
Thanks to the help of the DFDL team, B.Grimm Power acquired 100% of the shares in a company with the right to develop the first ground-mounted solar photovoltaic project in Cambodia. B.Grimm, one of the oldest and largest energy developers in Thailand, also signed a purchasing agreement with Electricite Du Cambodge for 30 megawatts (“MV”) for the next 20 years.
The solar project is one of four new solar photovoltaic developments in Cambodia and will be one of the last awarded with a favorable electricity tariff. B.Grimm’s successful deal signals its strong investment and financial capacity in Cambodia’s solar power industry.
DFDL experts advised B.Grimm on the financing arrangements of this large solar power project in Cambodia. The team helped to negotiate a USD28 million syndicated loan from a group of leading Thai banks to finance the development of a 30 MW solar power plant in Banteay Meanchey province. DFDL’s advisory work focused on obtaining the government permits and licenses required for the development and construction of the project, including the electricity operating license and approvals from the Cambodian authorities.
The DFDL team was led by Audray Souche (Regional Managing Partner), Guillaume Massin (Partner, Cambodia and Thailand Managing Director), Walanchathas Sanguanwong (Partner, Thailand) and Seka Hep (Partner, Cambodia) with the assistance of Chuan How Tan (Co-Head of Cambodia Banking, Finance and Technology Practice), Panida Agkavikai (Senior Legal Adviser, Thailand), Thanatorn Anekvittayakij (Junior Legal Adviser, Thailand).
In-House Community (“IHC”) is an industry group for in-house legal and compliance professionals. The IHC Magazine, which announced the award, is sent to more than 30,000 legal professionals in Asia and the Middle East. Winning deals were selected based on submissions to the IHC Briefing newsletter received throughout the year.
We congratulate the DFDL team for winning this much-deserved award!
