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Nuclear sector projects

Nuclear sector projects The UK nuclear market for construction industry supply chain members is significant. The Nuclear Decommissioning Authority projected spend of £3.3bn for the financial year 2015/16 purely in relation to civil decommissioning—add in military decommissioning and the significant future value of the nuclear new build market and the overall market is huge. The sector requires a wide range of construction-related inputs, from large-scale civil engineering, demolition and project management, through to design services and facilities management (and much more besides). Some of these services require specialist nuclear know-how, others do not (although all members of the nuclear supply chain need to be aware of the special considerations which apply to working in the nuclear sector). The nuclear sector is heavily regulated, especially in the UK, and the contracting structures and documents used can be correspondingly complex. This Practice Note provides an introduction to the sector from a legal adviser's perspective. Sector background The UK nuclear sector can be divided into: • decommissioning (of which...

Structure and key features of a solar project finance transaction

Structure and key features of a solar project finance transaction Introduction and key benefits of solar As the appetite for renewable energy has grown exponentially over the past decade, solar power projects have become increasingly prevalent. Of the two types of solar projects, photovoltaic (PV) and concentrated solar power (CSP), PV is the most common type. The low installation costs and short build times of solar PV projects have made them an attractive option for investors and sponsors in the energy sector. As at the end of March 2024, there was a total of 15.8 GW of solar capacity in the UK. This is an increase of 5.6% (837 MW) since March 2023. In addition, according to the International Energy Agency in Renewables 2023, China commissioned as much solar PV in 2023 as the entire world had done during 2022. On a global level, solar PV alone accounted for three-quarters of renewable capacity additions worldwide. A few of the key advantages of solar power are worth noting...

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Form of Contractor Direct Agreement in favour of a lender (for use on infrastructure and energy projects)

Form of Contractor Direct Agreement in favour of a lender (for use on infrastructure and energy projects) This DIRECT Agreement is made on [insert date] day of [insert month] 20[insert year] Parties 1 [Insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Contractor’); 2 [Insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Lender’ which expression shall include successors in title and any permitted assignee); [and] 3 [insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘ProjectCo’)[; and OR . OR 4 [[insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Guarantor’).] Whereas (A) The ProjectCo has entered into a contract dated [insert date] with the Contractor (the ‘Contract’) relating to the [design and engineering, AND/OR procurement, AND/OR supply, AND/OR construction, AND/OR testing and commissioning, AND/OR [insert other]] of [insert description of the asset] at...

Sustainability definitions (The Chancery Lane Project)

Sustainability definitions (The Chancery Lane Project) 1.5°C Aligned 1.5°C Aligned • [means that the level of ambition of [insert name of the organisation] targets to reduce GHG Emissions and its Climate Change Mitigation Measures are consistent with achieving the goal in Article 2.1(a) of the Paris Agreement to pursue efforts to limit the global temperature increase to 1.5°C above pre-industrial levels with little to no overshoot. OR means that [insert name of the organisation] targets to reduce GHG Emissions and Climate Change Mitigation Measures are aligned with scenarios that yield a long-term global warming outcome of 1.5°C above pre-industrial levels [with [60%] probability and [no OR less than 0.1%] overshoot]. ] 100% Renewable Energy and Renewable Energy Sources 100% Renewable Energy • means an energy system where all the energy used is sourced from Renewable Energy Sources. Renewable Energy Sources • means naturally replenishing non-fossil sources of energy, including but not limited to [regenerative biomasses (wood, municipal waste, biomass and landfill gas, ethanol, biodiesel), hydropower and tidal...

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Does the Corporate Insolvency and Governance Bill apply to limited liability partnerships?

Does the Corporate Insolvency and Governance Bill apply to limited liability partnerships? The Corporate Insolvency and Governance Bill (CIGB) expressly amends the law relating to limited liability partnerships in several ways. In particular the following provisions apply to limited liability partnership (LLPs): Moratorium (s 1) and Wrongful trading (s 10). These two provisions apply to LLPs as LLPs are designated as an 'eligible' company in CIGB, Sch ZA1(1), unless the LLP is: • subject to, or recently subject to, moratorium or an insolvency procedure (ZA1(2)) • an Insurance companies (ZA1(3)) • a bank (ZA1(4)) • an electronic money institution (ZA1(5)) • an investment bank or investment firm (ZA1(6)) • a companies that is party to market contracts or subject to market charges, etc (ZA1(7)) • a participant in designated systems (Z1(8)) • a payment institution (ZA1(9)) • an operator of payment systems, infrastructure provider etc (ZA1(10)) • a recognised investment exchange, clearing house and CSD (ZA1(11)) • a securitisation company (ZA1(12)) • party to capital market...

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Construction weekly highlights—20 June 2024

This week's edition of Construction weekly highlights includes a Court of Appeal decision in which the court considered the interpretation of a contractual notice provision (Drax v Scottish Power), a case in which the Technology and Construction Court (TCC) considered a project company’s entitlement to claim certain costs on a retrospective basis under a PFI agreement (Pevensey v Environment Agency), publication of the April 2024 construction update by the Construction Leadership Council (CLC), and comments from the Royal Institution of Chartered Surveyors (RICS) on the general election manifestos of various political parties.

Public Law weekly highlights—20 June 2024

This week's edition of Public Law weekly highlights includes analysis of various cases, including a judgment on interpreting the language of statute and common law principles as applied in the context of judicial review and a case where victim status for a human rights claim was not established. Additionally featured are selected Brexit headlines, including a round-up of publications made by Specialised Committees established by the EU-UK Trade and Cooperation Agreement and the latest Brexit SIs. This edition further includes updates on State accountability and liability, judicial review, equality and human rights, information law, subsidy control and State aid, public sector contracts and other Public Law updates.