Norton Rose Fulbright advises Bibby Marine on financing to support construction of zero emission vessel

World legislation agency Norton Rose Fulbright, working at the side of main Spanish legislation agency Uría Menéndez, has suggested Bibby Marine on a financing package deal with HSBC UK to help the event of its beforehand introduced zero emission electrical Commissioning Service Operation Vessel for servicing offshore windfarms.

The multi-million euro financing made obtainable by HSBC UK is backed by Cesce, the Spanish Export Credit score Company. HSBC acted as sole ECA coordinator, mandated lead arranger and facility agent.

The vessel, which is able to now be constructed at Astilleros Armon in Vigo, Spain, will probably be outfitted with a strong 25MWh battery system, rechargeable through dual-fuel hybrid engines powered by methanol or diesel. The design additionally permits for direct offshore charging, enabling true zero-emission operation. If offshore charging is unavailable, the dual-fuel methanol engines present another methodology to recharge the battery system, making certain operational flexibility and 0 emission operation with inexperienced methanol. 

The Norton Rose Fulbright group was led by companions Andrew Williams and Philip Roche, supported by senior affiliate Oliver Webber. Associate Matthew Hodkin and affiliate Elisabeth Trotter suggested on tax points. The Uría Menéndez group advising on Spanish legislation issues was led by companion Carlos López-Quiroga and counsel José Sánchez-Fayos, with the help of junior affiliate Andreea Croitor. Associate Guillermo Canalejo Lasarte, supported by senior affiliate Blanca García Velloso, suggested on Spanish tax points.

Watson Farley & Williams suggested HSBC UK.