Department: Special Projects SyCipLaw has enjoyed a long and intensive involvement in projects for private energy production, commencing with the development of the first power plant undertaken on a build-operate-transfer basis in the Philippines. We have since participated in many of the Philippine independent power projects, acting as counsel principally to developers and lenders, representing a combined capacity of more than 6,000 MW. These include the largest coal-fired, gas-fired, and diesel stations in the country, as well as hydroelectric and geothermal plants.
We has also acted as principal legal consultant to independent power projects in Thailand, Pakistan, Indonesia, Vietnam, China, and other countries in the region.
SyCipLaw was counsel to Hong Kong-based Hopewell Holdings Limited for the negotiation and implementation of the Philippine’s first build-operate-and-transfer project — the Navotas I gas-turbine power station. This pioneering project, begun in 1988, is significant because it was undertaken prior to the enactment of the Build-Operate-Transfer (BOT) Law; its structure and documentation provided the template for almost all succeeding BOT contracts in the Philippines.
We acted subsequently for the sponsors of the 700 MW Pagbilao Power Station, the 1200 MW coal-fired Sual Power Station, the BWSC 100 MW barge-mounted diesel power station in Mindanao, the Bakun AB Power Plant (the first hydro power plant undertaken and financed under a BOT structure), the 1200 MW gas-fired KEPCO Ilijan power facility, which uses natural gas from the Palawan oil fields, and the 728 MW Caliraya-Botocan-Kalayaan (CBK) Hydro-Electric Power Complex, which includes the only pumped-storage regulating plant in the Philippines.
We acted as counsel to the lenders that provided a P20 billion financing to the National Grid Corporation of the Philippines (NGCP), which was awarded the concession to expand, operate, maintain, and rehabilitate the national transmission grid and sub-transmission assets previously operated by National Transmission Corporation. In that transaction, we also acted as counsel to one of the borrowers-shareholders of NGCP.
We represent one of the major investors in the development and operation of the upstream component of the Malampaya Deepwater Gas-to-Power Project, the largest industrial investment to date in the Philippines.
We also act for the Manila Electric Company, the biggest distribution utility in the Philippines, in relation to the conduct of competitive selection processes to procure long-term offtake agreements. We also act for other distribution utilities in rate-setting applications before the Energy Regulatory Commission.
Our expertise in energy also covers renewables. Our experience spans wind, hydro, geothermal, bio-mass and solar.
We have conducted due diligence on and advised prospective investors on the regulatory framework and foreign ownership restrictions applicable to, various wind, hydro, geothermal, bio-mass and solar power projects.
In the oil and gas sectors, we have represented ExxonMobil Exploration and Production Philippines B.V. and BHP Billiton Petroleum (Philippines) Corporation in relation to its exploration activities and ensuring regulatory compliance. We have also provided advice and assisted sponsors and lenders in the due diligence of several Philippine oil and gas service contracts.
Our projects include:
- Chevron Malampaya’s investment in Service Contract No. 38 (Malampaya Natural Gas Project)
- Peak Oil’s Service Contract No. 6-A (Cadlao oil project);
- Philex Petroleum’s Service Contract No. 72 (Reed Bank project);
- Standard Bank Plc US$30Million Financing for Nido Production (Galoc) Pty Ltd
- Acquisition by Risco Energy from the Vitol Group of 26.84% participating interest in Service Contract No. 14
- Standard Bank Plc US$50Million Term Loan for Risco Energy Pte Ltd.
