- Sappi Southern Africa Limited Ngodwana Energy 25MW Biomass Project
Acting for the sponsors' SPV as lead legal advisor on all project financing, ring fencing, structuring, procurement, regulatory, bidding, equity and financial close aspects of the limited recourse project financing of one of the first biomass projects to be bid successfully into the the REIPPP programme. The deal value in 2017 was approximately ZAR1 billion. The project and related procurement and bankability issues were challenging given the political and financial challenges facing the REIPPP programme at the time. This power plant will ultimately be constructed and operated at Sappi's Ngodwana mill in Mpumalanga.
- FMO Nyamagasani I 15MW and Nyamagasani II 15MW Hydro Power Plants in Uganda
Acting as legal advisor to FMO with Norton Rose Fulbright LLP in London and Ugandan legal counsel in Kampala in connection with two scalable hydro projects in Western Uganda. Work done on these projects included the drafting and finalisation of all of the project finance documentation for FMO, assisting FMO with the financial close process, and reviewing and helping with the finalisation of all of the project documents prepared by the project sponsors and proposed contractors for closing.
- TerraForm Global, Inc. (NASDAQ:GLBL) Power Plant Acquisitions
Acting as lead legal advisor and local counsel in the acquisition by TerraForm Global of two solar photovoltaic power plants in the Northern Cape and a wind farm in the Western Cape. Work done in respect of these projects included legal due diligence on the targets, legal opinions in support of technical issues around changes in ownership of each project company SPV and related requirements of the project companies' senior lenders, support in relation to locally required merger/anti-trust filings and other regulatory approvals for the changes in ownership, structuring advice, exchange control and related advice, review and finalisation of all legal documents with respect to the acquisitions and all related security and finance documents, and representing the purchasers in the financial close process. The deal value in 2017 was approximately US$75 000 000. Akin Gump Strauss Hauer & Feld LLP acted as international legal advisors to TerraForm Global. These deals were challenging in the context of South Africa's secondary market for the acquisition of renewable energy projects which is still developing and the complicated overlap between the processes which drive the acquisition of a controlling equity interest in renewable energy assets and the requirements of the senior lenders (including Standard Bank, Nedbank and the Industrial Development Corporation) who originally funded the construction of the power plants.
- KZN Growth Fund Trust Stanger Private Hospital Infrastructure Project
Acting as lead legal advisor to the KZN Growth Fund in respect of its equity investment in and senior debt funding for the development and construction of a private private hospital at Stanger in KwaZulu-Natal, and advising on all project and equity financing, structuring, regulatory and financial close aspects of the project. This hospital was fully operational by the first quarter of 2018. In 2014 Lize also advised the Government Employees Pension Fund through the Public Investment Corporation (PIC) on funding for the construction of the ZAR233 million Kiaat Private Hospital in Mbombela, Mpumalanga.
- Wrapped Bond financing of University Residences in the UK
Acting as legal advisor with Norton Rose Fulbright LLP in London in connection with the funding for the development and construction of university residences at the Universities of Sussex and Essex. Work done on these projects included the drafting of all of the financing documents for the issuer. These deals were challenging insofar as wrapped bonds are not commonly used in the South African market, whether to reduce the borrowing costs of existing projects or as a source of original funding.
- TerraForm Global Boshoff 60 MW Solar PV Plant
Acting as lead legal advisor to TerraForm Global Africa Operations and its affiliates in the acquisition, operation and maintenance of TerraForm Global's power plant in the Free State. Lize also acted locally for TerraForm Global in its listing on the NASDAQ in 2015 and in relation to South African renewable energy assets forming part of the TerraForm Global portfolio at that time. Lize also acted historically for the developer and sponsors of the Boshoff 60 MW solar photovoltaic plant, which started in 2012 as a Window 2 REIPPP renewable energy project funded by the Overseas Private Investment Corporation (OPIC), advising on all project financing, procurement, structuring, regulatory, equity and financial close aspects of the project. Skadden Arps, Slate, Meagher & Flom LLP in New York acted as international counsel for the sponsor in 2013 in respect of the original OPIC funding. The deal value in 2013 was approximately US$250 million.
- HSBC Cross Jurisdictional Guarantees
Acting as legal advisor with Norton Rose Fulbright LLP in London in connection with corporate guarantees in favour of HSBC plc across sixteen jurisdictions (including the UK, the USA, Australia, Italy, Guernsey, Jersey, Singapore, South Africa and Spain), and the issuing of related legal opinions in favour of the bank by local counsel in each of these jurisdictions.
- TerraForm Global Soutpan 30 MW Solar PV Plant
Acting as lead legal advisor to TerraForm Global Africa Operations and its affiliates in the acquisition, operation and maintenance of TerraForm Global's power plant in Mpumalanga. Work done included advice on the original acquisition by TerraForm Global of this project in 2015, including support in relation to locally required merger/anti-trust filings, approvals from the Department of Energy, exchange control approvals and other regulatory approvals for the changes in ownership, structuring advice, drafting, negotiating and finalising new Operations and Maintenance Agreements and related project finance direct agreements and security with senior lenders, and providing legal support for TerraForm's local business generally. Lize historically acted as lead legal advisor in all aspects of the development, bidding and financing of the Soutpan 30 MW solar photovoltaic plant which started as a Window 1 REIPPP renewable energy project funded by a syndication of local and international investors lead by Standard Bank and including FMO and DEG. The deal value in 2012 was approximately ZAR1.3 billion.
- TerraForm Global Witkop 30 MW Solar PV Plant
Acting as lead legal advisor to TerraForm Global Africa Operations and its affiliates in the acquisition, operation and maintenance of TerraForm Global's power plant in Mpumalanga. Work done includes advice on the original acquisition by TerraForm Global of this project in 2015 and providing legal support for TerraForm's Global's business in South Africa generally. Lize historically acted as lead legal advisor in all aspects of the development, bidding and financing of the Witkop 30 MW solar photovoltaic plant which started as a Window 1 REIPPP renewable energy project funded by a syndication of local and international investors. The deal value in 2012 was approximately ZAR1.3 billion.
- Jidong Development Group Cement Factory Infrastructure Project
Acting as legal advisor and lead on finance to Jidong Development Group (China's second largest cement manufacturers and one of the world's top five cement makers at the time) and the China Africa Development Fund in respect of the development and financing of the construction of the Mamba cement manufacturing plant near Northam in Limpopo. The deal value in 2014 was approximately ZAR2 billion and at the time represented one of the first large infrastructure development projects to be undertaken by Chinese business in South Africa and a deal which was originally brokered by former president Thabo Mbeki.