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Thai National Power Project 2
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US$150m
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Synopsis
Project development and financing of a new co-generation power plant in Thailand
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Firm
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Client
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Role
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Baker & McKenzie
Lead lawyers: Sawanee Sethsathira; Vit Vatanayothin; Wittaya Luengsukcharoen; Theerapab Punyasakhon
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Financiers
Bank of Ayudhya and Kasikorn Bank
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Local counsel
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Hunton & Williams
Lead lawyers: Stephen Bennett Richard Savage
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Borrowers
International Power
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International counsel
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Baker & McKenzie and Hunton & Williams have helped Thai National Power on the project development and US$150m financing of a new co-generation power plant in Thailand.
Hunton’s Bangkok office received the mandate from longstanding clients, International Power, a UK company which owns Thai National Power (TNP). Partner Stephen Bennett and counsel Richard Savage advised the company on the TH5bn (US$150m) leveraged financing.
International Power has used Hunton as counsel in Thailand for over ten years: Savage previously advised TNP on its EPC arrangements for an existing power plant, while associate Piroon Saengpakdee has also helped the company on Thai employment laws.
The funds for the project were provided by the Bank of Ayudhya and Kasikorn Bank who were advised by a four-person Baker & McKenzie team, led by partner Sawanee Sethsathira (left).
The new power plant is the first to have reached financial close among the 19 others which have been given government approval.
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