Lorenzo Parola

Practice Areas

Lorenzo Parola is the Founding and Managing Partner of Parola Associati – Società tra Avvocati a r.l. Mr Parola is both admitted to the Italian Supreme Court (Corte di Cassazione) and as a Solicitor of England and Wales. He is one of the leading energy transition and energy technology lawyers in Italy having been involved in some of the most complex and “first of a kind” transactions in the sector.

Mr Parola advises infrastructure funds, utilities and oil majors in domestic and cross-border M&A transactions in the renewables, power, oil & gas, energy transition and circular economy sectors. He has a substantial track-record on permitting, contractual and regulatory issues related to the development of energy infrastructures, including renewables and CCGT plants, interconnectors, LNG regasification terminals and gas storages. He is recognized an unparalleled expertise in industry specialty contracts such as PPAs, tolling arrangements, take-or-pay GSAs and LNG SPAs, pipeline transportation agreements, EPC contracts, energy efficiency contracts, physical and financial energy trading, including CO2, blockchain and smart contracts. He is regularly instructed, either as counsel or arbitrator, in the context of national and international arbitrations pertaining to gas sales agreements and in the construction sector.

He is a Visiting Professor at various masters and advanced university courses (LLM in Law of Internet Technology of Bocconi University, Master in Energy Management (MEM) of Business School Polytechnic of Milan, Master in Energy and Environmental Services Regulation – Corso di alta formazione in Regolazione dei servizi energetici e ambientali of University of Siena, II Level Master in Energy Efficiency and Industrial Sustainability – Master di II livello in Efficienza Energetica e Sostenibilità nell’Industria of Turin Polytechnic). Together with Public Affairs Advisors and Ref-e, he founded the Italian PPA Committee and, subsequently, the E-Innovation Committee, networks dedicated to, respectively, grid parity power and energy transition that gathered more than 60 members among which energy producers, traders, final clients, and financial institutions. He contributed to the drafting of the “Guidelines for an Italian strategy of methane emissions reduction in the natural gas supply chain” (“Indirizzo per una strategia italiana sulle emissioni di metano nella filiera del gas naturale”) promoted by Amici della Terra in cooperation with Environmental Defence Fund (EDF).

Career

Alle&Overy - Member of Global Corporate Board - Partner (1998-2009)

Dewey & LeBoeuf LLPDewey -Co-Head of Global Renewables Practice - Partner (2009-2012)

Paul Hastings - Partner - Head of European Energy and Utilities Practice (2013-2019)

Herbert Smith Freehills - Partner - Head of Corporate Practice Italy and Head of Energy and Infrastructure Italy (2019-2022)

Parola Angelini Law Firm - Founding and Managing Partner (May 2022)

Professional Memberships

• Admitted to the Italian Supreme Court (2013)

• Qualified as a Solicitor in England and Wales (2001)

• Member of the Board of Directors and Chairman of the Sustainable Value Creation Committee at Italgas S.p.A. (the listed utility which is the largest Italian gas distribution company)

• Visiting Professor, LL.M. in Law of Internet Technology (Bocconi University)

• Visiting Professor, Master in Energy Management of MIP (Business School Polytechnic of Milan)

• Visiting Professor, Master in Energetic Resources Management (Master in Gestione delle Risorse Energetiche) organised by SAFE

• Member of UCID (Christian Union of Entrepreneurs and Managers)

Publications

• • PPAs turn hybrid as market matures, interview by Alina Trabattoni for Montel Energy Transition Weekly, 19 January 2024.

• Italian industry urges pan-EU PPAs to limit soaring costs, interview by Alina Trabattoni e Siobhan Hall for Montel, 30 October 2023, (published on montelnews.com website at: https://www.montelnews.com/news/1529005/italian-industry-urges-pan-eu-ppas-to-limit-soaring-costs-).

• Change is a resource (Il cambiamento è risorsa), La Provincia Pavese – Speciale Libero Mercato Energia, p. 7, 28 October 2023.

• Italy’s soaring permit prices deter investors – experts, interview by Alina Trabattoni for Montel, 21 October 2023.

• Virtual PPAs may overtake physical deals in Italy, interview by Enza Tedesco and Alina Trabattoni for Montel, 11 October 2023, (published on montelnews.com website at: https://www.montelnews.com/news/1527206/virtual-ppas-may-overtake-physical-deals-in-italy).

• Southern Europe resists to the end of interventionism (El sur de la UE se resiste al fin del intervencionismo), interview by Paolo Bronte for Montel, 19 June 2023, (published on montelnews.com website at: https://www.montelnews.com/es/news/1505947/el-sur-de-la-ue-se-resiste-al-fin-del-intervencionismo).

• Electrical autonomy (Autonomia elettrica), interview by Mariangela Pira in her book Effetto Domino, pp. 137-144, Chiarelettere Editore, Milan, May 2023.

• Italy under pressure to boost offshore wind, interview by Alina Trabattoni for Montel, 15 May 2023, (published on montelnews.com website at: https://www.montelnews.com/news/1499389/italy-under-pressure-to-boost-offshore-wind).

• New momentum to renewables (Nuovo slancio alle rinnovabili), Rivista Energia, 1/2023, pp. 73-75, (published on rivistaenergia.it website at: https://www.rivistaenergia.it/2023/05/revisione-costituzionale-la-sfida-dellambiente-e-lo-sviluppo-delle-fonti-rinnovabili/).

• Guidelines for an Italian strategy of methane emissions reduction in the natural gas supply chain (Indirizzo per una strategia italiana sulle emissioni di metano nella filiera del gas naturale) promoted by Amici della Terra Onlus in cooperation with Environmental Defence Fund (EDF), 21 December 2022, (published on amicidellaterra.it website at: https://www.amicidellaterra.it/images/metano/STRATEGIA_CH4_2022_web.pdf).

• Expensive energy bills, renewables mean savings (Caro bollette, il risparmio è rinnovabile), interview by Daniela Passeri for Il Manifesto, 13 October 2022, (published on manifesto.it website at: https://ilmanifesto.it/caro-bollette-il-risparmio-e-rinnovabile).

• Front-runner in Italian election focuses on gas, nuclear, interview by Enza Tedesco for Montel, 22 September 2022, (published on montelnews.com website at: https://app.montelnews.com/News/Story.aspx?id=1352753&highlightCsv=).

• Italian hydrogen sector needs subsidies to thrive – experts, interview by Enza Tedesco for Montel, 31 May 2022, (published on montelnews.com webite at: https://www.montelnews.com/news/1324516/italian-hydrogen-sector-needs-subsidies-to-thrive--experts).

• More than the Mediterranean gas hub Italy may become a market relevant for the whole of Europe (Piú che hub mediterraneo del gas l’Italia puó diventare un mercato rilevante per tutta l’Europa), interview by Luca Drago for LaVerità, 1 April 2022, (published on laverita.info website at: https://www.laverita.info/lorenzo-parola-energia-gas-russia-2657078557.html).

• Collective procurement and efficiency to avoid a 37 billion energy bill (Contratti collettivi ed efficienza per evitare 37 miliardi di bolletta), interview by Luca Pagni for La Repubblica – Affari & Finanza, 28 February 2022, (published on repubblica.it website at: https://www.repubblica.it/economia/affari-e-finanza/2022/02/28/news/caro_energia_contratti_collettivi_ed_efficienza_per_evitare_37_miliardi_di_bolletta-339219529/).

• Nuclear between Taxonomy and State Aids (Nucleare tra Tassonomia e Aiuti di stato), Rivista Energia, 1/2022, pp. 66-69, (published on rivistaenergia.it website at: https://www.rivistaenergia.it/2022/03/tassonomia-e-aiuti-di-stato-le-contraddizioni-sul-nucleare/).

• Italy’s renewable sector slams windfall profit levy plans, interview by Enza Tedesco for Montel, 24 January 2022, (published on montelnews.com website at: https://www.montelnews.com/news/1294883/italys-renewable-sector-slams-windfall-profit-levy-plans).

• Draghi presidency may put Italy’s energy policy in limbo, interview by Enza Tedesco for Montel, 21 January 2022, (published on montelnews.com website at: https://www.montelnews.com/news/1294422/draghi-presidency-may-put-italys-energy-policy-in-limbo).

• Energy. The methane contradictions: resource or threat? (Energia Le contraddizioni del metano: risorsa o minaccia?), interview by Luca Parlangeli for Focus, 20 January 2022, (published on focus.it website at: https://www.focus.it/scienza/energia/metano-gas-serra-minaccia-risorsa).

• Europe must aim at energy independence (L’Europa deve puntare sull’indipendenza energetica), interview by Laura Morelli for Dealflower, 4 November 2021, (published on dealflower.it website at: https://dealflower.it/europa-indipendenza-energetica-intervista-lorenzo-parola/).

• Fit for 55 - European Commission’s proposals for amendments to the Renewable Energy Directive, in Lexology, 10 August 2021, (published on lexology.com website at: https://www.lexology.com/library/detail.aspx?g=18679a67-dca7-48a4-a194-f3977f3e6f23).

• Fit for 55 - EU increases use of energy from renewable sources by 2030 in proposed amendments to the Renewable Energy Directive, in Lexology, 10 August 2021, (published on lexology.com website at: https://www.lexology.com/library/detail.aspx?g=5539466a-f864-4729-a36f-f15009a0ad05).

Clients

Galileo Green Energy; Alperia; NPV, Firefly; GAIF Bio Holding; Green Arrow Bio Holding; Axpo; Statkraft; Snam; Iren, A2A; Octopus; Opdenergy; Silea; Ansaldo

Expert in these Jurisdictions

Italy, England and Wales

Languages Spoken

English

French

Education

Awards