概要
Mayer Brown’s Renewable Energy practice brings together a dedicated team of lawyers with deep experience across the spectrum of the industry. Our team advises clients on all legal aspects of renewable energy transactions—from greenfield project development and finance to the purchase and sale of large companies and operating portfolios to restructuring arrangements in distressed situations. Our team stands at the forefront of the energy transition movement.
Our clients include many of the largest financial institutions, sponsors, and funds actively working on renewable energy and energy transition opportunities in the US and across the globe. Our deal list—a sampling of which can be found below—demonstrates that we have earned and maintain the trust of the most sophisticated actors in this constantly evolving space.
Because of our abilities, our team has become a go-to firm for an incredibly wide range of technologies—onshore wind, offshore wind, utility scale and distributed solar energy, battery storage, fuel cell, geothermal, nuclear, carbon capture, and biomass to name a few. Similarly, there is not a transaction structure for which the team does not have a deal list and cadre of dedicated lawyers—debt financing of all kinds, tax equity financing, mergers and acquisition work, and securitization among them.
Experience
- Private Equity Fund. Represented a private equity fund in the approximately USD 514 million pending acquisition, by merger, of a combined regulated gas utility and unregulated distributor of propane and several smaller businesses, including controlling interests in two solar facilities.
- Electric Power and Natural Gas Company. Represented a utility company, as sponsor, in the tax equity financing of a portfolio of wind projects, the Frontier II Wind (350 MW) and Maryneal Wind (182 MW) in Oklahoma and Texas, respectively.
- Multinational Utility Company. Represented a utility company, as buyer, on acquisition of Sun Valley and Hopkins Solar, development stage solar projects located in Texas.
- Investment Management firm. Represented an asset management business on a co-development arrangement with a clean energy and battery storage company for the acquisition and development of distributed generation solar projects and portfolios in the United States.
- A Global Asset Management Business. Represented an asset management business in its acquisition of 50% of the equity interests in a leading renewable energy developer that operates over 1.3 GW of wind, solar, battery storage and geothermal facilities across the United States.
- A syndicate of insurance companies. Represented an insurance company in the acquisition of a portfolio of solar projects totaling 470 MW in Alabama, Georgia, Maryland and Florida from an energy company.
- A syndicate of insurance companies. Represented an insurance company on the acquisition of a portfolio of distributed generation residential solar projects located on school district properties in Southern California.
- A syndicate of insurance companies. Represented an insurance company, in the sale of its membership interests in a vertically integrated renewable energy platform in the United States, to a private equity firm.
- A Global Investment Company. Represented a global investment company with respect to its investment in the ~330 MW Maplewood utility scale solar project.
- A Global Investment Company. Represented a global investment company and its affiliates, as a lender and an equity holder, in connection with the proposed sale of U.S. solar and storage developer and development projects developed by a joint venture between the two companies.
- A multinational life insurance company. Represented a multinational life insurance company and its affiliates on the USD 400 million acquisition of a 49% interest in a company that owns a portfolio of wind and solar generating facilities, and as borrower on the back leveraging of its interest.
- A multinational life insurance company. Represented a multinational life insurance company in its acquisition of a minority interest in a 1.2GW portfolio of wind and solar assets from Duke Energy. A separate team of Mayer Brown lawyers, while at a prior firm, represented Duke Energy on the sale side of the same transaction.
- A renewable energy development firm. Represented a renewable energy development firm and its affiliates on two separate transactions for the sale to various Danish pension funds, of a 50 percent ownership interest in each of (i) the approximately 300 MWac Prospero Solar project located in Andrews County, Texas, and (ii) the Little Bear Solar project comprised of a portfolio of four solar projects with a combined capacity of approximately 160 MWac located in Fresno County, California. The representation included negotiation of joint venture ownership arrangements for both projects and a mezzanine loan provided by subsidiaries of the Funds.
- Renewable Energy Company. Represented a developer of utility-scale wind and solar projects in the U.S., on the sale of the company.
- A syndicate of banks. Represented a syndicate of banks in a roughly USD 348 million construction and back leverage loan to finance the construction of Great Pathfinder Wind in Iowa, a 225 MW wind farm.
- An electric power and natural gas company. Represented an electric power and natural gas company, as sponsor, in the tax equity financing of the Mesteno (200 MW) wind project in Texas.
- An asset management firm. Represented an asset management firm, as sponsor, in obtaining construction loan financing, tax equity financing and back leverage financing for the 72.6 MW Weaver wind project in Maine.
- A financial services company. Represented a financial services company in its commitment to provide approximately USD 62 million in tax equity financing to the Bennington wind project, a 93 MW wind project being in Marshall County, Illinois.
- A financial services company and a multinational conglomerate holding company. Represented a financial services company and a multinational conglomerate holding company as tax equity investors in financing the development and construction of the approximately 180 MW Heart of Texas wind power generation facility.
- A syndicate of insurance companies. Represented a syndicate of insurance companies as term lenders on the refinancing of the term loan and letter of credit facility for the Fenton Wind project in Minnesota.
- A Renewable Energy Development Company. Represented a renewable energy development firm, as sponsor, on construction loan and tax equity financing of a 170 MW wind project, Mountain Breeze Wind Farm, in Colorado.
- A Renewable Energy Development Company. Represented a renewable energy development company on debt and tax equity financing for El Campo Wind in Texas.
- Global Banking Company. Represented a global banking company, as lead arranger, in the construction loan for Kings Point Wind Farm (150 MW) and North Fork Wind Farm (150 MW), being developed in Missouri. The Kings Point and North Fork wind farms will generate approximately 300 MW.
- A syndicate of banks. Represented a syndicate of banks in a roughly USD 388 million construction loan for Neosho Wind Farm (301 MW) being developed in Kansas.
- A syndicate of banks. Represented a syndicate of banks as sole Lead Arranger for a USD 189 million senior secured loan facility and a USD 53.8 million letter of credit facility related to the construction of Escalade Wind Farm, an approximately 336 MW wind project in Texas.
- A syndicate of banks. Represented a syndicate of banks in a roughly USD 355 million construction loan, bridge loan and letter of credit facility to finance the construction of Samson I, an approximately 250 MW (AC) solar generation facility in Texas.
- A syndicate of banks. Represented a syndicate of banks in a roughly USD 330 million construction loan, bridge loan and letter of credit facility to finance the construction of Samson III, an approximately 250 MW (AC) solar generation facility in Texas.
- Financial Services Company. Represented a financial services company with respect to its investment in Community Solar 7 (CS7) project.
- A syndicate of banks. Represented a syndicate of banks with respect to a tax equity investment in the 500 MW Aktina utility scale solar project.
- Global Investment Bank and Financial Services Firm. Represented a global investment bank and financial services firm, in an up to USD 300 million back leverage loan facility for a portfolio of distributed generation solar facilities owned by one or more tax equity partnerships.
- Investment Banking Company. Represented an investment banking company in connection with a construction and bridge loan financing for an approximately 250 Mwac photovoltaic solar electric generating facility located in California.
- Electric Power and Natural Gas Company. Represented an electric power and natural gas company, as sponsor, in a tax equity portfolio financing of the Lapetus (100 MW) and Palmer (61 MW) projects in Texas.
- Multinational Technology Conglomerate. Represented a multinational technology conglomerate on a utility scale solar project tax equity financing.
- A Syndicate of Insurance Companies. Represented a syndicate of insurance companies as lenders in a ten-year USD 85 million delayed draw holdco loan facility (including an accordion upsize provision) with an SPV which is secured by customer payments and environmental attributes, incentives and tax credits derived from residential solar panel projects acquired by multiple tax equity funds.
- Real Estate Investment Manager. Represented a real estate investment manager on a construction loan facility of ~USD 105 million for the construction of a ~98 MW DC solar project located in South Carolina.
- Global Investment Company and its Affiliates. Represented a global investment company and its affiliates, as a lender and an equity holder, in connection with a major vertically integrated renewable energy platform in the United States.
- Represented Lenders in five separate construction loans and letter of credit facilities to finance the construction of each of the five utility-scale solar projects in Texas and California with an approximately 1.7 gigawatts (GWp) being developed by SoftBank Energy Corp.
- Athos I – 250 MW
- Athos II – 200 MW
- Juno – 300 MW
- Titan – 270 MW
- Aragorn – 260 MW
- Global Financial Services Firm. Represented global financial services firm with respect to its tax equity investment in two (2) separate portfolios of utility scale projects.
- Global Financial Services Firm. Represented global financial services firm with respect to its tax equity investment in Galloway Solar I, a 250 megawatt project.
- Global Financial Services Firm. Represented a global financial services firm with respect to its investment in the Shakes utility scale solar project (plus storage).
- Global Financial Services Firm. Represented a global financial services firm, as a tax equity investor, in the tax equity financing of a portfolio of distributed generation solar projects having an aggregate capacity of approximately 90 MW.
- Global Financial Services Firm. Represented a global financial services firm, as a tax equity investor, in the tax equity financing of a portfolio of distributed generation solar and solar + storage projects having an aggregate capacity of approximately 85 MW.
- Japanese Bank. Represented a major Japanese bank as lead arranger, for the financing of Sojitz’s 50 MW PV solar project with 80 MW battery storage project located in New Mexico.
- Food & Beverage Company. Represented a food & beverage company with respect to its tax equity investment in Taygete I Energy Project, a 250 Mwac solar project, located in Pecos County, Texas. In addition to its tax equity investment, the firm represented the food & beverage company on arrangements for the purchase of 100% of the renewable environmental attributes associated with the project’s energy production.
- A syndicate of banks. Represented a syndicate of banks in the construction, tax equity bridge, and back leverage financing of Concho Valley Solar, an approximately 160 MWac solar photovoltaic generation facility located in Tom Green County, Texas.
- A syndicate of banks. Represented a syndicate of banks in a USD 102 million construction loan facility to finance the construction of an approximately 100 MW (AC) solar project in Clark County, Nevada being developed by Invenergy.
- Fuel Cells. Represented an electric power and natural gas company acquiring a portfolio of fuel cell distributed generation assets and tax equity financing the same – in the first third-party, tax equity financed fuel cell deal in the market.
- Carbon Removal Fund. Actively representing a founding member of Project Frontier – an advance market commitment to buy an $925M of permanent carbon removal between 2022 and 2030.
- Electric Vehicles. Represented investors in a portfolio electric vehicle (EV) financing.
- Combined Solar (ITC) / Wind (PTC) Portfolio. Represented a private equity fund acquiring an operating biomass generation facility with an ITC tax equity financing in place (including structuring related recapture matters).
- Biomass Generation. Represented a private equity fund acquiring an operating biomass generation facility with an ITC tax equity financing in place (including structuring related recapture matters).
- Geothermal Power. Represented tax equity investor in a series of geothermal tax equity transactions.
- New Nuclear. Represented a technology company on development and financing matters related to Calvert Cliffs 3, a development stage nuclear power plant.
- Offshore Wind. Actively representing clients on a number of US offshore wind projects – including sponsors and a tax equity investor.
- Carbon Capture Use and Storage (CCUS). Actively representing clients on a number of carbon sequestration transactions – including sponsors and a tax equity investor.
- Battery Storage. Represented clients in a number of battery storage transactions, including collocated solar transactions.
受賞
Chambers and Partners
- Six Ranked Renewable Energy Partners – including Band 1
- Ranked Department – USA Nationwide: Projects: Renewables & Alternative Energy (US and Global Guide)
- Ranked Department – USA Nationwide: Projects: Power & Renewables Transactional
- Ranked Department – USA Nationwide: Banking & Finance
- Ranked Department – USA Nationwide: Energy (Electricity)
- Ranked Department – USA Nationwide: Tax (Corporate & Finance)
