Energy

De Brauw's multi-disciplinary energy and infrastructure group acts as project counsel to Gasunie, EBN and Port of Rotterdam on the Porthos carbon capture and storage (CCS) project. Last week, these parties set up the various entities they will use to develop, own and operate the Porthos Project. They also entered into several cooperation agreements. In addition, Porthos and its launching customers Air Liquide, Air Products, ExxonMobil and Shell signed the final contracts for the transport and storage of CO2.

De Brauw assists Gasunie with the issuance of its inaugural Sustainability-Linked BondN.V. Nederlandse Gasunie has successfully issued its inaugural Sustainability-Linked Bond (SLB). The issue amounts to EUR 300 million with a tenor of 15 years, maturing on 13 October 2036. Gasunie is the first company in the European gas transmission sector to issue a SLB. The bond was issued in accordance with Gasunie's recently published Sustainability-Linked Bond Framework, which follows the ICMA Sustainability-Linked Bonds Principles. The adoption of this framework is part of Gasunie's efforts to broaden its ESG financing sources.De Brauw is pleased to have been able to assist its long-term client Gasunie with the establishment of its Sustainability-Linked Bond Framework and incorporate this framework into the Euro Medium Term Note programme in the form of two ambitious ESG targets. This first-of-a-kind issuance for Gasunie underlines the broader market trend of an increased focus on the ESG aspects of financing arrangements. Next to the rise of sustainability-linked financing arrangements (in which the ESG performance is linked to certain financial consequences), there is also a lot of activity in the green bond market, where the proceeds are used for certain eligible green projects.

De Brauw successfully represented Westermeerwind Wind Farm - the largest Dutch near-shore wind farm, located in the Noordoostpolder and generating an amount of energy comparable to the consumption of 160,000 households - in objection proceedings and in appeal proceedings before the Trade and Industry Appeals Tribunal (CBb) against the Minister of Economic Affairs and Climate Policy. The case revolved around the government's intention to recover tens of millions of euro in subsidies for the wind farm, based on alleged non-compliance with state aid rules. On 26 April 2021, the CBb ordered the minister to recalculate the reduction in subsidy for the Westermeerwind wind farm, in favour of Westermeerwind.

On 23 February 2022, the long-awaited proposal for a directive on corporate sustainability due diligence was published. The proposal contains obligations for companies regarding human rights and environmental adverse impacts of their own operations as well as the operations of their subsidiaries and the value chain operations of companies that they have an established business relationship with. We discuss the highlights of the proposal in this article.

After a long period of uncertainty, it looks like the Unitary Patent and the Unified Patent Court (UPC) will become a reality, possibly by the end of this year. This change in the European patent system has implications for both existing and future patents. Companies will have to choose between European bundle patents or Unitary Patents, and whether they want their patents to be subject to the UPC's jurisdiction. This article summarises the basics of the "Unitary Patent package" and outlines the important choices that patent holders will face soon.

A bill was recently submitted to parliament establishing a national security screening regime where target undertakings active in the Netherlands in vital processes or sensitive technology, are being acquired. In 2020, the Dutch government indicated its intention for the screening mechanism to apply retroactively. Under the current bill, the regime would apply to qualifying investments made after 8 September 2020.