Henry Stewart
Partner

ENERGY & INFRASTRUCTURE

LONDON

T: +44 20 7814 8000
D: +44 20 7814 8404
M: +44 7525 891 394

EmailE: hstewart@wfw.com

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Henry Stewart

Summary Open

Henry is Co-Head of the Global Energy and Infrastructure sector and a Partner in the London Energy & Infrastructure group. Henry has extensive finance, commercial and corporate experience in the energy and infrastructure sector – including a large number of landmark transactions in the renewables sector.

Henry has been recognised for his work by many leading legal directories. This includes being: ranked as a leading lawyer for Renewables and Alternative Energy in Chambers UK 2018; noted as highly regarded for Energy, Banking, Project Finance and M&A in IFLR1000 2018; recommended by Legal 500 UK 2017 for Energy and Natural Resources; and listed in the International Who’s Who of Project Finance Lawyers.

Henry has practised in London and Singapore.

Experience Open

    Henry’s experience includes advising:
    • Canadian Solar on its sale of a 142 MW solar PV portfolio with an enterprise value of c. £191.2m to Greencoat Solar Assets II Ltd, a fund managed by Greencoat Capital.
    • RBS and MUFG among others in relation to the OFTO tranche for the circa £1.3bn financing for PKA and PFA’s 50% stake in the 659 MW Walney Extension offshore wind farm.
    • Lightsource Renewable Energy on its agreement to enter into a partnership platform with UK Climate Investments to fund the development, acquisition and ownership of large scale solar power generation assets in India; together with offshore elements of the equity and debt financing of a 60MWp seed project in the state of Maharashtra.
    • European renewables platform Vortex, which is managed by the private equity arm of EFG Hermes, on its acquisition of 365 MW UK solar PV portfolio with an enterprise value of c. £470m from TerraForm Power.  Comprising 24 operational assets, Vortex’s new acquisition represents one of the largest solar PV portfolios in the UK.
    • An unsuccessful bidding consortium, as future lenders’ counsel, in relation to the financing arrangements for the Danish government tender to build the 600 MW Kriegers Flak wind project in the Baltic Sea.
    • A BlackRock owned project company on the EKF backed construction financing for the 160MW Tellenes wind farm in Norway, including the power purchase arrangements with Google. This deal was listed as one of Inspiratia’s top ten most significant renewables deals of 2016.
    • Various senior and mezzanine funders in relation to financings for Lightsource Renewable Energy ground based solar parks, with aggregate capacity in excess of 800 MW.
    • A buyer in relation to the acquisition of a 22 MW dedicated biomass project in the UK.
    • The Royal Bank of Scotland Plc on a financing for the construction of PV systems on commercial rooftops by Lightsource Renewable Energy.
    • A bidder in relation to the financing aspects of the potential acquisition of the Rødsand 2 offshore windfarm in Denmark.
    • PGGM and Ampere in relation to a financing for their minority interest in the Walney I and II offshore wind farms.
    • The lenders to a bidder in relation to the financing of the acquisition of Tuas Power Ltd, a Singaporean electricity company.
    • The senior and mezzanine lenders in relation to the financing of the acquisition of a regulated electricity distribution company in the UK for £1.14bn.
    • Katanga Mining (a Congolese Glencore subsidiary) on the US$530m financing of the Phase IV expansion of its mine and plant, and a related US$120m loan to prepay existing listed notes.
    • Stora Enso in relation to the development of a pulp & paper mill in Guangxi Province, China, including advice in relation to: (i) an IFC equity investment in relation to the project; and (ii) debt facilities (including IFC A and B facilities, ECA backed facilities and PRC bank debt) aggregating to approximately €2.4bn).

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