Baker Botts Wins Energy/Infrastructure Team of the Year at the Legal Business Awards for Its Work with Air Products on NEOM Green Hydrogen Project
Release
LONDON, 20 September 2024 - Baker Botts, a leading international energy, technology, and life sciences law firm, has been named Energy/Infrastructure Team of the Year at the 27th annual Legal Business Awards, which took place in London on 17 September 2024. The Legal Business Awards celebrates the very best in the legal profession and is one of the most prestigious event in the legal calendar.
The team received recognition for its work on the ground-breaking NEOM Green Hydrogen Project (NGHP) in Saudi Arabia, the world’s largest carbon-free hydrogen production plant to produce green ammonia at scale, with a total investment value of USD 8.4 billion. NGHP is being developed by NEOM Green Hydrogen Company (NGHC), an equal joint venture between ACWA Power, Air Products and NEOM Company.
The transaction is one of the flagship projects of the huge NEOM development that is underway in the Kingdom, forming the centerpiece of the 2030 Vision being implemented by the Saudi government.
The Baker Botts team continues to advise Air Products in connection with all aspects of the development of this project including drafting and negotiating all key development contracts such as EPC and Green Ammonia Offtake.
The team’s main added value was the ability to innovate in putting the project contract structure together whilst also creating a bankable contracting solution to meet the sponsors’ objective of securing non-recourse project finance. The need to innovate meant not relying on standard approaches to certain key issues including intellectual property and guaranteed performance.
The winning team included lead partner and Global Head of Construction Stuart Jordan, Riyadh partner Shadi Haroon, London partners Alex Kerr, Mark Rowley and Neil Coulson, special counsel Ed Hills, senior associate Mike Walton, and associates Ciaran Mcilwham and Inaya Homoud.
The original news announcement can be found here.
The team received recognition for its work on the ground-breaking NEOM Green Hydrogen Project (NGHP) in Saudi Arabia, the world’s largest carbon-free hydrogen production plant to produce green ammonia at scale, with a total investment value of USD 8.4 billion. NGHP is being developed by NEOM Green Hydrogen Company (NGHC), an equal joint venture between ACWA Power, Air Products and NEOM Company.
The transaction is one of the flagship projects of the huge NEOM development that is underway in the Kingdom, forming the centerpiece of the 2030 Vision being implemented by the Saudi government.
The Baker Botts team continues to advise Air Products in connection with all aspects of the development of this project including drafting and negotiating all key development contracts such as EPC and Green Ammonia Offtake.
The team’s main added value was the ability to innovate in putting the project contract structure together whilst also creating a bankable contracting solution to meet the sponsors’ objective of securing non-recourse project finance. The need to innovate meant not relying on standard approaches to certain key issues including intellectual property and guaranteed performance.
The winning team included lead partner and Global Head of Construction Stuart Jordan, Riyadh partner Shadi Haroon, London partners Alex Kerr, Mark Rowley and Neil Coulson, special counsel Ed Hills, senior associate Mike Walton, and associates Ciaran Mcilwham and Inaya Homoud.
The original news announcement can be found here.
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.
