Ogier BVI Advises First Gen on Acquisition of Natural Gas Power Projects

Ogier in BVI has acted on behalf of First Gen Corporation, the largest vertically integrated power producer in the Philippines, in its US$360 million acquisition of BG Group’s power assets in the Philippines. 

First Gen acquired the entire outstanding shares of Lisbon Star Management Limited, a BVI company, through which BG Group owned 40% stakes in the 1 GW Santa Rita combined-cycle natural gas-fired power plant, the 400 MW San Lorenzo combined-cycle natural gas-fired power plant and the corporate vehicle for the development of the San Gabriel power project.

Ogier provided BVI legal advice in connection with the acquisition. The Ogier team in BVI was led by Corporate Partner Simon Schilder and Senior Associate Paul Kelly and worked with Paul Hastings in Hong Kong and London.