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Solar Power Finance & Investment Summitt, Feb. 27-Mar.1 (San Diego, CA)
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Troutman Sanders' Renewable Energy Practice brings together experienced lawyers from various practices of the firm to provide advice and creative solutions to the needs of clients in this fast-growing segment of the energy industry. Our multidisciplinary Renewable Energy Practice draws its members from practice groups with expertise in energy, project finance, tax, mergers and acquisitions, private equity, lending and structured finance, securities and capital markets, legislative affairs and intellectual property. This team also relies upon the resources of the firm’s real estate, environmental, litigation and other practices as necessary. This full service capability allows us to offer clients a fully integrated team with the optimum balance of breadth and specialization in all relevant areas.
Troutman Sanders is a global market leader in providing comprehensive legal advice to utility, independent power producer, financial, industrial and government clients engaged in energy-related businesses in the United States and throughout the world. Our attorneys have transactional, financing and regulatory experience in the natural gas, water and electric power industries, including the renewable energy sector.
Our track record for providing innovative infrastructure development and finance solutions is rooted in large part in our longstanding counsel–going back to the 1920s–to key participants in the electric power industry. Out of this practice Troutman Sanders became actively involved in the growth of the independent power industry in the early 1980s, including renewable and cogeneration projects under the Public Utility Regulatory Policies Act of 1978 (PURPA). Building on these early experiences, we have developed a dynamic, worldwide energy project development and finance practice, guiding some of the most influential developers, investment banks and lenders in the electric power industry, particularly during the recent and ongoing restructurings of electric power markets. We bring this same high-caliber leadership to the renewable and energy sector.
Troutman Sanders represents clients from the early, strategic stages of investment and tax structuring to the development, construction, operation and financing of renewable energy projects worldwide. Our lawyers have experience with solar, wind, geothermal, ocean, river and hydropower projects, as well as “clean coal,” ethanol, biodiesel/biogas, and biomass-related transactions, including waste-to-energy. In addition, Troutman Sanders’ attorneys have broad-ranging, global experience in the greenhouse gas emissions (GHG) business and the underlying markets and regulations, including the purchase, sale, and trading of GHG emission allowances and GHG emissions related commodities and products. Finally, where necessary or appropriate, Troutman Sanders advocates on behalf of clients before Congress and the Administration to support important legislation or to secure financial assistance or other support for renewable energy projects.
Lawyers in Troutman Sanders' Renewable Energy Practice have advised clients in a wide range of renewable energy-related matters, including these recent and relevant transactions:
Wind Power
Represented a U.S. utility in connection with the negotiation of a renewable resource power purchase agreement for a 200 MW wind powered electric generation facility.
Representation of a major U.S. utility in the negotiation of power purchase agreements for wind farms in the United States.
Advised Constellation Energy in its acquisition of the Criterion wind farm from Clipper Windpower.
Representation of a major independent energy company in the greenfield development of a 67 turbine (100 MW) wind farm in Pennsylvania.
Representation of a major non-U.S. wind project developer in its evaluation of several acquisitions of early-stage wind developers and projects in the United States, including structuring of partnership agreement, review of EPC contracts, turbine supply agreements, ground leases and power purchase agreements (PPAs).
Representation of an investor owned utility in connection with the acquisition of a 50 MW wind farm in the U.S. from an independent wind developer and negotiation of a 40 MW power purchase agreement (PPA) from an ajoining wind farm.
Acted as counsel to Green Power Express Project, a $12 billion proposed transmission line expected to bring wind power resources from the Dakotas to Midwestern and Eastern markets.
Represented energy management services company in connection with drafting and negotiating energy management services agreements for wind-powered generating facilities in Texas.
Representation of the investors in proposed wind power project finance transactions in the western United States.
Acted as counsel to Midwestern utility regarding its purchase of wind power under several contracts.
Acted as counsel to wind developers seeking market-based transmission service from proposed DC transmission facility in the Western US.
Represented U.S. utility in connection with the negotiation of a power purchase agreement for a 100 MW wind powered electric generation facility.
Representation of U.S. banks as tax equity investors in wind power project finance transactions in the United States.
Representation of several independent wind power developers in corporate strategies and project finance and development matters.
Representation of investor owned utilities in connection with the negotiation of PPAs with independent wind power developers.
Solar Power
Represented one of the nation's largest bank-held equipment finance companies in connection with construction finance and take-out equity finance of $30mm solar installation at a large Northeastern university. The installation is one of the largest single solar installations at a U.S. college or university, with the potential to produce 8 million kWh per year and using 16,500 solar PV panels.
Represented Solar Nation, developer of the 4.26 megawatt Avidian project in New Jersey, expected to be the largest rooftop PV solar project in the U.S. when completed in 2011. We drafted and negotiated all transaction documentation.
Represented a public utility holding company and its renewable energy development subsidiary in the acquisition from a solar panel vendor of a 30MW solar project built in New Mexico. The representation included the structuring of a joint venture with a separate renewable energy company and drafting and negotiating the key agreements for the deal, including the EPC Agreement, O&M Agreement, real estate documentation and acquisition documentation.
Represent a major commercial bank in a construction and term loan facility to a solar developer in New Jersey.
Representing the New York Power Authority in connection with its RFP for 100MW of solar power.
Representation of a major U.S. energy company in its potential acquisition of a large solar power project entity in California.
Representation of several major U.S. and international banks as tax equity investors in PV solar projects leased to developers and subject to power purchase agreements with major U.S. retailers, municipalities and school districts. Over 120 PV solar projects financed in California, Colorado, Connecticut, Hawaii, Maryland, New Jersey, North Carolina and Oregon.
Representation of Wells Fargo Bank, N.A. in its evaluation of sale-leaseback and partnership flip structures for PV solar projects, and its investment of over $200 million in sale-leaseback programs for PV solar projects with PPAs with major U.S. commercial and municipal offtakers.
Representation of a concentrated solar power company in its development of process steam purchase agreements and EPC contracts.
Representation of a major U.S. bank as tax equity investor in a large scale solar project under development in Colorado.
Represented non-U.S. solar PV developer in connection with the development of a 3 MW net meter PV facility in Pennsylvania, including drafting and negotiating the solar power purchase agreement, interconnection agreement and ground lease.
Representation of investor owned utility in the acquisition of 50 MW solar PV facility.
Lead legal counsel to utility client in connection with the negotiation of Engineering, Procurement and Construction Agreements for a program of 5 solar photovoltaic power generation facilities.
Representation of a major Southwestern investor-owned utility in the negotiation of PPAs with independent solar power developers.
Representation of an independent energy company in the greenfield development of a 280 MW solar thermal project in Arizona.
Representation of a solar power developer in the negotiation of a comprehensive construction contract for the greenfield engineering, procurement and construction of a PV solar power generation facility in Southern California.
Representation of a venture fund, as lender, in a secured term loan facility to a solar power installation company operating in New York and New Jersey.
Representation of several PV solar power developers in connection with financing alternatives for projects located in Hawaii, New Mexico, New Jersey, New York, Pennsylvania and other locations.
Geothermal
Representation of an energy development company in the acquisition of a controlling equity interest in a geothermal facility under development in Indonesia.
Representation of an energy development company in the acquisition of the debt and equity associated with a 10 MW geothermal facility in Nevada.
Representation of the developer in development efforts for a geothermal power project and a mine-mouth coal project in Indonesia.
Representation of a geothermal developer in connection with the joint-development of a geothermal project in Nicaragua.
Representation of California-based developer in the proposed acquisition of portions of the Calpine portfolio of geothermal assets.
Representation of textile manufacturer in the negotiation of a 10 MW geothermal PPA.
Ocean and River
Representation of UEK Corporation, an industry leader in the development of ocean and river current turbine technology, with respect to intellectual property, Federal Energy Regulatory Commission (FERC) hydropower licensing, business plan development, project finance and development, and the certification and sale of renewable energy and carbon reduction credits.
Representation of Alliance Energy regarding the purchase of hydropower assets in New York from Mirant Corporation.
Representation of an independent power producer in its bid to acquire the stock of a Dutch holding company which owned (through Spanish subsidiaries) a group of micro-hydroelectric facilities in Spain.
Representation of an independent power producer in its acquisition of a majority interest in the 1,000 MW Alicurá Hydroelectric Plant, which was privatized by the government of Argentina, including negotiation of interim, non-recourse acquisition debt. Subsequently, represented the project sponsor in the sale of its interest in the project.
Representation of Tenaga Nasional Berhad in the negotiation of a power purchase agreement for 2400 MW Bakun hydro power plant in Malaysia.
Representation of large investor-owned utilities and municipalities in Southeast and Midwest on licensing and relicensing cases before FERC, including settlement agreements.
Advised client regarding the potential retrofit of dam and lock with hydropower facilities.
Representation of an energy company in developing a new hydrogenation facility in Nigeria.
Biomass and Alternative Fuels
Representation of an energy company in the greenfield development of a 30 MW eucalyptus-fueled power generation facility in Hawaii.
Representation of a developer of clean combustion technologies for biosolids in its offering and sale of $42 million of preferred stock to a group of U.S. and international investment funds.
Representation of an Australian investment bank as investor in a company developing a technology to produce ethanol from cellulose
Representation of First United Ethanol in the construction of a 100-million gallon ethanol plant in Southwest Georgia, including assistance with environmental, construction, tax, transportation and lobbying/public relations issues surrounding the plant.
Representation of an Australian investment bank as co-developer and lender in the purchase and development of ethanol producing facilities in Pennsylvania and Louisiana.
Representation of Georgia Power in its Integrated Resource Plan and certification proceedings before the Georgia Public Service Commission. Most recently, this includes the successful certification of the conversion of a coal-fired power plant (Plant Mitchell) to be fueled by woody biomass. With the conversion, Plant Mitchell will be one of the largest biomass plants in the country. In the 2007 Integrated Resource Plan, successfully argued for certification of a new energy efficiency program and for authority to add 3-30MW renewable resources outside of the certification process.
Representation of U.S. biofuel company in a US$10 million secured financing to facilitate acquisition of biodiesel feed stock and working capital needs, including drafting and negotiating debt, security and sponsor support agreements.
Executed a 50MW biomass contract with Rollcast Energy pursuant to the PURPA requirements.
Representation of a biomass gasification power project developer in Vietnam, including power purchase agreement negotiation with Electricity of Vietnam (EVN) and related export-credit agency financing matters.
Representation of Biomass Investment Group, Inc. in the development and financing of a 120 MW biomass energy transport gasification station and related power purchase agreement in Central Florida.
Representation of Biomass Investment Group, Inc. in the development of an advanced biomass energy transport gasification power station in Pernambuco State, Brazil.
Representation of Future Energy Resources Corp. (FERCo) in its development and financing of a patented gasification process that converts biomass forms into a fuel gas that can be used in a variety of energy conversion devices, including gas turbines and internal combustion engines.
Representation of a major Japanese bank in the refinancing and restructuring of a waste-to-energy facility in New Jersey along with extensive state and federal court litigation and administrative proceedings.
Representation of Max-En Capital in a portfolio investment in coal gasification technology in China and the United States.
Representation of Southwestern United States utility in the development of and power purchase agreement for a biomass electric power station.
Representation of a U.S.-based advanced technology waste-to-energy developer in the development of projects in Italy and Japan.
Representation of textile manufacturer in connection with the sale of a biomass plant in the Dominican Republic and the refurbishment and purchase of thermal and electrical output from an independent power developer.
Representation of Unicredito, as agent, in a letter of credit financing for the U.S. renewable energy project development affiliate of ENEL.
Representation of alternative energy owner/developer regarding corporate and regulatory issues associated with biogas qualifying facility located in Philadelphia, Pennsylvania.
Representation of a truck manufacturer in the conversion of methane from a landfill to liquefied natural gas for use in trucks.
Representation of U.S. industrial company on implications of U.S. customs laws on plans to build a biofuels facility abroad and import items to the United States.
Green Highways
Counsel to ITC Holdings in its application before FERC for the Green Power Express Project -- the largest new AC transmission project of its kind. The project is estimated at $12 billion, will cross six states, and is intended to connect wind projects in the Dakotas to Chicago.
Counsel to the "Anchor Shipper" for the Chinook Transmission Project, a 1,000 mile, 500 kV, direct-current merchant transmission line that will carry wind power from the Pacific Northwest to load centers in the West and Southwest. The Chinook Project is the first to obtain FERC approval of the "anchor shipper" business model for merchant transmission facilities with negotiated rate authority.
Smart Grid
Assisted clients in securing funding for smart grid technologies under the American Recovery and Reinvestment Act ("ARRA"), including assisting four clients in the preparation of their respective Smart Grid Investment Grant applications and one client in their Smart Grid Demonstration application.
Assisted three clients that received SGIG awards in the negotiation of their respective Assistance Agreements with DOE, as well as worked with these clients with regard to various reporting issues and other compliance matters. Currently counseling a client who is providing in-kind assistance to a recipient of smart grid funding.
Counsel to a client with regard to the proposed Federal Renewable Electricity Standard, which includes a provision for energy efficiency measures.
Counsel to an investor-owned utility regarding the energy efficiency measures during the drafting of the ARRA, including advice regarding modifications to those measures.
Counsel to a client relating to opportunities for generation from waste heat and waste gas.
Counsel to a client regarding the development of smart grid interoperability and cyber security standards.
Energy Regulatory, M&A and Carbon Trading
Representation of an affiliate of Electricité de France in the acquisition an international renewable energy company.
Representation of several clients regarding proposed federal renewable portfolio standards and similar legislation.
Advised Georgia Power on its Green Energy program since its inception. The Company has expanded its program into innovative areas such as large volume green energy sales and special event purchases. Represented the utility in its efforts to pursue accreditation from a national accreditation organization. Representation also includes advice concerning the regulatory requirements for the marketing of Demand Side Management (“DSM”) programs and Green Energy. Provide further assistance in the areas of program design and negotiations with vendors and contractors.
Representation of Trigen Corporation regarding regulatory issues in the development and deployment of CHP technology, including drafting standard interconnection protocols applicable to alternative energy sellers.
Representation of NEV Technologies on regulatory issues associated with the deployment of distributed generation assets in California.
Representation of the European Federation of Energy Traders (EFET) in the development of the documentation for the trading of greenhouse gas emissions under the EFET master agreements for electricity and natural gas as well as coordinating the legal opinions on the enforceability of close-out netting and other key aspects of EFET’s standardized trading documentation.
Representation of private equity firm as “Kyoto counsel” regarding its investment in, and purchase of carbon reduction credits associated with, a Russian natural gas pipeline efficiency and methane capture upgrade project.
Litigated before FERC the question of whether a requirements supplier must allocate a percentage of its purchased renewable energy (and costs) to certain wholesale customers
Representation of various utilities and other industry participants on greenhouse gas regulatory, litigation and legislative matters, including testimony before Congress on climate change issues.