10TH September 2010
Graf von Westphalen advises Chinese energy group State Grid Corporation of China
A few days ago, the law firm Graf von Westphalen signed an advisory contract with Shanghai Municipal Electric Power Company (SMEPC). SMEPC is a fully owned subsidiary of State Grid Corporation of China (SGCC).
SGCC supplies 88 percent of China’s national territory with electricity. The group is the world’s largest energy utility, with about 1.6 million employees. According to the Fortune Global 500 list of the world’s 500 largest companies in terms of sales, SGCC is now the eighth-largest company in the world and China’s second-largest corporation. In 2008, SGCC had still ranked at No. 24 on the Fortune Global 500 list.
The law firm GvW will assist the company with comprehensive legal advice and support in the energy sector. In addition, GvW will advise the group with regard to business cooperations with European companies in China.
SGCC strives for developing an effective smart grid in the following decade. Smart Grids are intelligent grids which serve the modified needs caused by the establishment of renewable energy and shall enable a more efficient electrical power supply. According to Lin Xianyu, Section Chief of Smart Grid Department at SGCC, China places also great value on the cooperation with European and particularly German operators with regard to this future technology.
Aside from SGCC, GvW’s China team has been advising the state-owned Chinese airline Air China in all European legal matters as its contractual partner since March 2009.
Holger Adam, Client Relation Manager and Project Head (SMEPC/SGCC) and a Partner at GvW, comments: “We’re very proud to have reached this agreement with State Grid as it is already the second state-owned Chinese enterprise to put its trust in us. We’re also very pleased to be able to assist our client in Chinese-European projects in the renewable energy market, a key sector of the future.”
Managing Partner Dr. Robert Theissen adds: “Of course, the conclusion of this contract with the world’s eighth-largest company is an important milestone in our efforts to expand our international advisory activities. Our Shanghai office, which we opened one-and-a-half years ago, represents a key lever here. We’re pleased to see that this office is opening its doors for new business relationships in both directions.”
Contact:
Holger Adam, Partner
Tel.: +49 30 726111-170
h.adam@gvw.com
Dr. Robert Theissen, Managing Partner
Tel.: +49 40 35922-136
r.theissen@gvw.com
Press contact:
Julia Burmester, Marketing
Tel.: +49 40 35922-204
j.burmester@gvw.com