Michael Diosi
Image of Michael Diosi

Michael Diosi

Partner

Email

michael.diosi@aoshearman.com

Phone

+44 20 3088 4655

Offices

London

V-CARD

Michael is global co-head of A&O Shearman’s energy sector group based in London.

He specialises in the development and financing of large-scale energy projects across the energy spectrum, including oil & gas, power and energy transition (particularly green fuels, recycling and projects in the battery mineral value chain). He focuses particularly on complex, first-of-a-kind projects. In recent years he has worked to deliver energy projects with project costs of more than USD50bn, with a particular focus on energy markets in EMEA and North America.

Michael routinely advises sponsors and investors, export credit agencies, multilaterals and commercial lenders on multi-sourced development and financing arrangements across the capital stack. His 22 years with the firm includes 12 years based in the Middle East and time on secondment to Goldman Sachs and JPMorgan in London.

Expertise

Industries

Experience

Representative matters

  • Northvolt on the up to 60GWh expansion of its lithium-ion battery gigafactory project in Sweden, which successfully signed in December 2023. 
  • AESC on the development and financing of a series of lithium-ion battery gigafactory projects in the UK, USA and France. 
  • Green Lithium on the development and financing of UK’s first merchant lithium refinery producing battery-grade lithium hydroxide, including on the core raw material supply and lithium hydroxide offtake or tolling arrangements as well as project development contracts and technology licensing arrangements. 
  • The pathfinder ECAs and lenders on the first of a kind giga-scale NEOM Green Hydrogen Project (including solar and wind generation and BESS) in Saudi Arabia to produce 1m+ tpa of green ammonia. This USD8.5bn project includes the world’s first large scale green ammonia offtake contract. 
  • The sponsor on the development and financing of the 300MW Holmaneset green ammonia project in Norway. 
  • The sponsor on the development and financing of the UK’s first blue hydrogen project, including in respect of the UK hydrogen business model being developed by DESNZ, hydrogen offtake arrangements and arrangements for the connection to the CO2 transport and storage network. 
  • Xlinks on the development and financing of its Morocco–UK power and interconnector project. The project includes the development of a 10.5GW wind and solar energy generation project and combined 20GWh/5GW battery storage facility in Morocco, a 3,800km 4-line HVDC sub-sea cable from Morocco to the UK. 
  • The lenders on the acquisition from Ørsted of a 50% stake in the Hornsea 2 offshore wind farm in the UK, the world’s largest wind farm when complete. 
  • The lenders to the ACWA Power consortium on the USD4.4bn DEWA IV CSP Project in Dubai, UAE. This award-winning project is the largest concentrated solar power project in the world and benefitted from very significant Chinese lender support.

Recognition

“He is a strong specialist with deep experience of complex and large transactions, and also keen to have a strong understanding of the non-legal aspects of a transaction”
Chambers Global 2023: Banking & Finance
“He is commercial and focused on executing deals”
Chambers Global 2022: Banking & Finance

Qualifications

Admissions

Admitted as solicitor, England and Wales, 2006

Academic

MA, English Language & Literature, Pembroke College, Oxford University, 2001
CPE, BPP Law School, 2003
LPC, BPP Law School, 2003
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.