New-York headquartered Shearman & Sterling has expanded its team of partners with the addition of nuclear projects specialist George Borovas.
The hire marks the official launch of the law firm’s nuclear practice, which Borovas is set to head.
Based in Tokyo, he will join Shearman & Sterling from Pillsbury Winthrop Shaw Pittman, where he led international nuclear projects efforts. A member of the firm's senior team since 2002, he has advised on nuclear power plant development and financings as well as nuclear transactions, litigation and regulation in the US, Japan, Europe, the Middle East, South Korea, Southeast Asia, China, Russia and South Africa.
His clients have included governments, commercial and investment banks, export credit agencies, electric utilities, nuclear power plant vendors and equipment suppliers, universities, and trading houses.
“With the demand for nuclear power continuing to grow in many parts of the world, Mr. Borovas’s depth of experience and knowledge puts Shearman & Sterling in a uniquely strong position in this strategically important energy sector,” the firm said in a statement.
The International Energy Agency’s World Energy Outlook 2013 estimates global energy demand to increase by one-third from 2011 to 2035, with low-carbon energy sources (renewables and nuclear) meeting around 40 percent of the projected growth.
Seventy-two new nuclear plants were under construction in 15 countries as of January 2014, according to the Nuclear Energy Institute. Among them, 29 were located in China, 10 in Russia, 6 in India and 2 in Europe.
Borovas’s appointment is the latest of a series of recent partner additions to Shearman & Sterling’s project development and finance team. Earlier this year, Robin Bayley and Marwan Elaraby strengthened the firm’s senior ranks in Abu Dhabi while Bob Nelson and Anthony Patten respectively joined its San Francisco and Singapore offices.