Simmons & Simmons said it will be supporting the Terrawatt Initiative (TWI) working in conjunction with the International Renewable Energy Agency (IRENA).
The firm will be working alongside other legal consultants to develop a standardised set of project agreements for the development of solar projects worldwide.
The objective of the project is to bring down the transaction costs and increase the transparency of risk allocation for these projects to attract around $1trillion of private capital.
An initial introductory meeting took place on June 21st in Munich with Bree Miechel, who is based in the firm’s Singapore office, joined the discussions representing Simmons & Simmons.
Miechel said:“Having worked on a wide range of renewables, in particular solar power in a range of jurisdictions, we are delighted to bring our expertise to this exciting initiative. We also undertake an extensive amount of pro bono work, so to be able to combine these two areas of focus is a fantastic opportunity for the firm and will hopefully make all the difference to the development of solar projects worldwide.”
