Chad Richards

Chad has advised on some of the most significant recent transactions in the US energy infrastructure sector. Drawing on his extensive experience, he guides clients through the regulatory considerations involved in deal structuring and due diligence, proactively mitigating regulatory risk and offering practical, strategic solutions to regulatory challenges. In addition, Chad counsels clients on energy regulatory compliance and periodic reporting obligations under the federal statutes and regulations governing the US energy industry, including the Federal Power Act, the Public Utility Holding Company Act, the Public Utility Regulatory Policies Act, the Natural Gas Act, the Natural Gas Policy Act, and the Interstate Commerce Act.

Chad has experience with a broad range of transaction types, including acquisitions and divestitures, mergers, joint ventures, reorganizations, debt and equity financings, and other complex equity holder arrangements. His experience also spans a variety of energy assets, including natural gas, liquefied natural gas, solar, hydro, oil, onshore and offshore wind, transmission, demand response, fuel cells, geothermal, and energy storage.

• Tax equity investors in connection with the $1.76 billion financing of the Western Spirit transmission line and wind portfolio in New Mexico. This transaction was named the 2020 “Transmission Deal of the Year” by Power Finance & Risk.
• A renewables company sponsor in connection with the construction and tax equity financing of a 1.7 GW utility-scale solar portfolio in Texas and California.
• Lenders in connection with the construction, term, and tax equity financing of the Edwards Sanborn solar and storage facility in California. This transaction was named the 2022 “Americas Renewables Deal of the Year” by Project Finance International.
• Tax equity investors in connection with the $1.6 billion financing of a 2.3 GW utility-scale solar and wind portfolio in Kansas, Oklahoma, Texas, South Dakota, and Virginia.
• Lenders in connection with the construction, term, and tax equity financing of the Highlander solar facility in Virginia. This transaction was named the 2020 “North America Deal of the Year” by Project Finance International.
• Lenders in connection with the repowering and refinancing of the Shepherds Flat wind facility in Oregon.
• A private equity firm in connection with its acquisition of a portfolio of forty-two hydroelectric facilities spanning eleven states.
• The Official Committee of Unsecured Creditors in the $59 billion bankruptcy of Pacific Gas & Electric Company.

In the oil, gas, and LNG space, advised:

• Global Infrastructure Partners in connection with its majority equity investment in Rio Grande LNG’s $18.4 billion Phase I development and project financing. This transaction was named the 2023 “Americas Deal of the Year” by Project Finance International.
• Permian Resources Corporation (NYSE: PR) in connection with its $4.5 billion acquisition of Earthstone Energy, Inc. (NYSE: ESTE).
• Sovereign wealth fund in connection with its $1.78 billion minority equity investment in Sempra Infrastructure Partners.
• A private equity firm in connection with its acquisition of a portfolio of six natural gas distribution companies in Indiana, Maine, Montana, North Carolina, and Ohio.
• Lenders in connection with the debt refinancing of a midstream oil and gas company with gathering, production, and transportation assets in the Gulf Coast.
• Lenders in connection with the construction financing of the CPV Three Rivers natural gas-fired power plant in Illinois. This transaction was named the 2020 “Conventional Power Deal of the Year” by Power Finance & Risk.