Slaughter and May wins “Energy and Infrastructure Team of the Year” at The Lawyer Awards

International law firm Slaughter and May has won “Energy and Infrastructure Team of the Year” at The Lawyer Awards. The firm was awarded this accolade for its work advising ENGIE SA as lead counsel in relation to its negotiations with the Belgian Government concerning a ten-year lifetime extension of two nuclear units, agreements for which were signed on 13 December 2023. The matter is key to the energy security of Belgium and, due to the interconnected nature of the European electricity market, also has implications for neighbouring countries.

The Belgian Government had previously required the phase-out of all nuclear power in Belgium by 2025 but, given security of supply considerations, requested that ENGIE extend the lifetime of two nuclear units by ten years, with the aim of restarting such units by 1 November 2025 and an estimated investment of between €1.6bn and €2.0bn.

This was a significant project for ENGIE, as it represented a change of strategic direction with respect to Belgian nuclear power and it will involve an unprecedented lifetime extension for its Belgian nuclear assets on a challenging timetable, requiring a large-scale mobilisation of its human and operational resources.

Global Co-Head of Infrastructure and Energy Michael Corbett, who led the transaction, commented: “We are delighted to have been recognised for this highly important transaction for ENGIE. The team has done a lot of work in the nuclear sector, and this matter is testament to our strong practice and capability in the sector. We were really pleased to achieve a great result for our client.”