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Michael Taylor is a partner in Gowlings' London office. A member of the Firm’s Energy, Infrastructure and Mining Group, Michael’s practice focuses on energy-related matters and project finance.
With over 35 years of experience, Michael is one of the U.K.’s leading lawyers in both the energy and project finance fields. Before joining Gowlings, Michael was a senior partner at a large international business law firm. During this time he worked on many large scale energy and infrastructure projects, as well as established and led their Italian banking and finance practice. Calenia Power Project, Italy — Advised the arranging banks and lenders on the financing of a 800MW combined cycle power plant developed by EGL and HERA, including advising on the gas tolling agreement.
Pigap II Project Financing, Venezuela — Advised ABN Amro as lead arranger of a US$105 million SACE-backed facility which formed part of a limited recourse project financing (other facility provided by OPIC) for gas compression and injection facilities in Venezuela.
Shoreham Combined Cycle Gas Turbine Project, U.K. — Advised South Coast Power Limited (a joint venture between Scottish Power and CSWI of the United States) as developer and owner of the project, including drafting and negotiating particularly complex gas supply agreements for the power station.
RWE – Advised RWE AG on its successful bid to acquire Essent Energy of the Netherlands for €9.3billion. On this transaction, Michael was responsible for his firm’s due diligence on the power generation assets.
Mestre Hospital PPP Project, Italy — Acted for the lead arrangers, headed by ABN Amro, on the €133 million project financing of the new Mestre Hospital in Italy. The project was the first large-scale hospital project in Italy to follow the UK PPP model and under which the private sector developer and funders take real performance risk for the delivery of non-clinical services. Project Finance International awarded the Mestre Hospital Project the EMEA PPP Deal of the Year, 2006.
Steel Project, Turkey — Advised MMK Atakas Metalurji Sanayi, Ticaret ve Liman Isletmeciligi A.S (MMK Atakas), a Turkish project company, on the long term financing for the construction of its integrated flat steel making complex and related infrastructure facilities in Turkey. This transaction won the Trade Finance Deal of the Year (Turkey) 2009; Project Finance's European Metals Deal of the Year, 2009; Global Trade Review's Best Deals of 2009.
Fiat-Tata joint Venture, India — Advised Citibank N.A. and SACE S.p.A. in connection with a financing package for Fiat India Auto Private Limited, a joint venture between Fiat Group Automobiles and Tata Motors. The financing comprises Indian Rupee facilities and a foreign currency facility partially guaranteed by SACE for a total of up to US$600 million.
Nigeria LNG Limited, Nigeria — Advised Nigeria LNG Limited (a joint venture owned by NNPC, Shell, Total and ENI), and its shareholders on the development and shareholder financing of the Nigeria LNG Project.
Brass LNG, Nigeria — Advised Brass LNG Limited (a joint venture owned by NNPC, ConocoPhillips, ENI and Total) and its shareholders in relation to the shareholder funding, financing and shareholders’ agreement for the Brass natural gas liquefaction and export project in Nigeria.
Drax Power Station, U.K. — Acted for AES on its successful bid for and financing of the £1.825 million acquisition of the Drax Power Station in the United Kingdom (the largest power station in Western Europe). Michael is the author of a book on oil and gas joint venture agreements (Taylor & Winsor on “Joint Operating Agreements”) and of papers and articles on a variety of energy-related subjects, including "Wind Energy Law in Ontario", [2011] in the International Energy Law Review, issue 3. Furthermore, he has written recent articles on the Italian electricity industry for Project Finance International and Power in Europe.
Michael has spoken at conferences and seminars on, inter alia, power station financing in Italy, production sharing agreements, developing and financing LNG regasification projects in the U.K. and Italy, and the involvement of export credit agencies in project financing and financing of oil and gas pipelines. |
