Mr. 'Wale Irokosu
Wale is a legal practitioner and Notary Public with over 16 years post-call experience.
He is a Co-Founder and Managing Partner of Probitas Partners LLP. He attended University of Central England in Birmingham, where he obtained an LL.B (Hons.) in 2001. He thereafter proceeded to the University of Wales, Cardiff, where he obtained an LL.M (Maritime Law) in 2002.
Wale was admitted to the Nigerian Bar in 2004. He is a member of the Nigerian Bar Association, the Chartered Institute of Shipbrokers (CIS), the Chartered Institute of Taxation of Nigerian (CITN), Institute of Directors (IoD) and the Chartered Institute of Arbitrators (CIarb). He is also a member of the Nigerian Bar Association (NBA) disciplinary committee panel, Lagos Branch.
Wale has garnered experience over the years on power related transactions. He versed in negotiating, drafting and reviewing several industry agreements including Power Purchase Agreement, Gas Supply and Purchase Agreement (GSPA), Technical Services Agreement (TSA), Engineering Procurement Installation and Commissioning Agreement (EPIC), amongst others.
He led the team that advised in the following transactions:
- The transaction Counsel for the construction of an 8.5 MW power plant in Lekki, Lagos, which includes the EPC and project finance of the Project. The power plant was designed and constructed to power public utilities in Victoria Island, Lekki and Ikoyi in Lagos.
- The negotiation of the Power Purchase Agreement (PPA) between the Lagos State Government and PIPP LVI Genco Limited.
- The acquisition bid for the NIPP Gbarain Power Plant in Gbarain, Bayelsa State by Chapel Bay Consortium (Channel Oil & Petroleum Limited, Eczellon Capital Limited; Bayelsa State Government, Banner Gas Limited and Power China).
- Acquisition of a $50,000,000 (Fifty million Dollars) worth of power assets in Marine Power Limited, Island Power Limited (owners of Island Power Plant), Gasco Marine Limited.
- Akute Power Limited (owners of Akute Power Plant).
- The construction of 3.8MW power plant at Ilupeju Mall. This includes the drafting and negotiation of the Power Purchase Agreement, Gas Supply and Purchase Agreement (GSPA), Technical Services Agreement (TSA) and Engineering Procurement Installation and Commissioning Agreement (EPIC).
- Advised an electric power company on the provision of electricity to Maryland Mall and Surulere Mall as well as the supply of 2MW of electricity to a five star hotel in Victoria Island.
- Acted as a counsel to a bidder for the Sapele Power Plant in Sapele, Delta State.
- Advised a power company engaged by the Ondo State Government to design, construct and operate a hybrid electricity generating systems for the purpose of supplying electric power to public utilities and communities in Ondo State.
- Acted as solicitors to an energy academy for the purpose of providing seamless training on electric power to technicians, engineers and other professionals within the electricity power sector.
- Reviewed and negotiated EPC contract with respect to the acquisition of a 3.6MW power plant by Sapio Utilities Limited.
- Solicitors to Gas Systek Nigeria Limited, a major Meter Asset Provider for the supply of domestic and industrial meters.
- Currently acting as a legal adviser for the development of captive power plant in Ota, Ogun State and prospective embedded power arrangement with the client and Ibadan Electricity Distribution Company. He is also advising a power company engaged by an Estate in Lekki for the supply, operation and maintenance of a prospective 5MW power plant.
- Currently acts as company secretary to several companies engaged in providing energy solutions.
Wale is the Editor-in-Chief of the Electricity Law Report and has authored several articles on topical issues within the Nigerian electricity sector.