Watson Farley & Williams (“WFW”) is pleased to announce that the joint venture between CNG Fuels Ltd. (“CNG Fuels”) and Foresight Group (“Foresight”) to build a nationwide network of refuelling stations to allow heavy goods vehicles (“HGVs”) to run on carbon neutral fuel that the firm advised on, has won IJGlobal’s ESG Transport Deal of the Year at their inaugural ESG Awards ceremony.
IJGlobal is a leading energy and infrastructure sector publication whose ESG Awards recognise activity that will have a long-term impact on the wider infrastructure market and celebrate organisations, transactions and individuals that have truly turned the dial on the environmental, social and governance front.
The deal will enable the development of at least 14 public access stations on major service routes across the UK, with the ability to refuel 8,000 vehicles each day – four times the current capacity. The refuelling stations will make carbon neutral fuel available from Glasgow to Bristol, meeting growing demand from major brands wishing to switch their high-mileage, heavily emitting HGVs away from diesel. The transaction followed the UK Government’s ten-point plan for a green industrial revolution which included the proposal of a consultation on the phase out of new diesel HGVs to put the UK at the vanguard of zero emission freight.
The judges were impressed by the ambition and innovation of the potentially transformative project that will significantly reduce transport emissions and, through its biomethane refuelling stations, will allow freight companies to use cleaner lorries to transport their goods.
The multidisciplinary WFW London team that advised CNG Fuels was led by Corporate Partner Andy Savage, supported by Senior Associate Nerina Erasmus and Associates Jennifer Evans. Projects Partner Emmanuel Ninos advised on the project contracts and related issues, while Partner Richard Stephens provided tax advice. Senior Associate John Rosmini advised on real estate matters, Partner Nick Walker on planning and environmental matters and Senior Associate Marianne Anton a on energy regulatory issues.
Andy commented: “It is wonderful to learn that this hugely important and innovative deal has been recognised by IJGlobal. With an increasing number of businesses moving towards cleaner forms of energy consumption, WFW continues to be a leading law firm for advice on ground-breaking and innovative transactions relating to ESG and sustainability”.
