DLA Piper advises FMO on JCM Power investment

A cross-jurisdictional DLA Piper team from London and Toronto has assisted FMO (the Dutch development bank investing in growth and frontier markets) on its cornerstone investment into JCM Power.

JCM Power is an independent power producer dedicated to accelerating social, economic and environment sustainability in growth markets (including Africa, Asia and Latin America) through the development, construction and operation of renewable energy facilities and HVDC transmission lines.

FMO was founded in 1970 and is a public-private partnership with 51 percent of shares held by the Dutch State and 49 percent held by commercial banks, trade unions and other members of the private sector.

The DLA Piper team was led by London Corporate Partner, Chris Baird, with assistance from Toronto Finance Partner, Derek Sigel, and London based Associates, Sam Jaffray, Darren Grindlay and Jennifer Griffin.

Commenting on the transaction Chris Baird stated: ''A lack of reliable, clean power in a number of emerging markets continues to restrict true growth and development in those countries. FMO and JCM Power have a clear agenda to rectify this imbalance. We are delighted to have been able to assist the parties concluding this extremely important investment and wish them well with their new arrangements.''