Skadden has one of the world’s most experienced practices focused on energy and infrastructure transactions, including mergers and acquisitions, project finance and project development across all fuel types. With energy and infrastructure projects attorneys across the globe, Skadden has closed hundreds of complex transactions throughout North America, Latin America, Europe, Africa, Asia and the Middle East involving energy-related and other infrastructure facilities.
Our energy and infrastructure practice was selected as one of Law360’s Energy Groups of the Year for 2017 and 2018. We also were recognized for our work on four matters at the IJGlobal Americas Awards in 2018, and we were shortlisted for a Chambers USA 2016 Award for Excellence in Projects: Power (including renewables). We have been consistently recognized as one of the top firms in the areas of power, electricity, renewables and alternative energy, and oil and gas by Chambers USA, Legal 500, the International Financial Law Review and other leading publications. We have one of the world’s premier practices representing clients in the development, financing, construction, operation, acquisition, ownership and disposition of energy and infrastructure projects.
- BNP Paribas in connection with a $395 million senior secured credit facility consisting of a $320 million Term Loan B facility and a $75 million letter of credit facility for Northeast Wind provided to refinance a portfolio of wind farms. This matter was named the North America Wind Deal of the Year for 2013 by Project Finance magazine.
- Citibank, N.A. and its affiliates in connection with a number of tax equity investment funds, including inverted leases, partnership flips and a first-of-its kind PACE transaction. The investments have been in the residential, commercial and industrial sectors.
- Deepwater Wind LLC in the negotiation of a 20-year power purchase agreement for the 90-megawatt South Fork offshore wind project, which was approved by the Long Island Power Authority. The project will be constructed off the eastern tip of Long Island, New York, and will be the second-ever offshore wind farm in the U.S. and its largest.
- Dynegy Inc. in connection with its $3.3 billion acquisition of the United States fossil portfolio of Engie S.A., including the formation of a joint venture with Energy Capital Partners (ECP) to acquire the portfolio, and Dynegy’s related $150 million sale of common stock to an affiliate of ECP. In connection with the closing of the transaction, Dynegy acquired ECP’s 35 percent interest in the joint venture and owns 100 percent of the acquired business.
- Enel Green Power North America, Inc. in its sales to GE Energy Financial Services of an aggregate 50 percent interest in an approximately 760 MW portfolio of renewable energy projects, including hydroelectric, geothermal, wind and solar electric generating assets, all located in North America. Enel will continue to manage, operate and maintain the assets.
- Exxon Mobil Corporation in its $2.8 billion acquisition of a 25 percent stake in a Mozambique gas field from Eni SpA.
- First Solar, Inc. in connection with the formation and $420 million initial public offering of Class A shares representing limited partner interests of 8point3 Energy Partners LP, a new yieldco formed as a joint venture between First Solar and SunPower Corporation to own, operate and acquire solar energy generation projects. At its IPO, 8point3 Energy Partners LP owned interests in 432 MW of solar energy projects. Skadden also has represented First Solar in connection with numerous project development, finance, tax equity and M&A matters.
- Hanwha Q CELLS Co., Ltd. in a solar module supply agreement with a subsidiary of NextEra Energy, Inc. Hanwha Q CELLS will provide more than 1.5 GW of solar modules to NextEra for solar projects in the United States. NextEra’s upfront payment was secured by a letter of credit issued by the Export-Import Bank of Korea and a guaranty by a Hanwha affiliate. At the time of its signing, this was the largest agreement of its kind in U.S. history.
- J.P. Morgan Asset Management in the acquisition of Sonnedix Power Holdings, an independent solar power producer with projects in Western Europe, Japan, Thailand, Chile, South Africa and Puerto Rico, by institutional investors advised by J.P. Morgan Asset Management. The transaction comes less than two years after the two firms began partnering to pursue opportunities in the rapidly expanding global solar market.
- Morgan Stanley & Co. LLC as lead initial purchaser in a $575 million Rule 144A/Regulation S offering of 5.5% senior secured notes due 2032 by México Generadora de Energía, S. de R.L., which is developing a 500 MW gas-fired, combined-cycle generating facility in Mexico. This transaction was named Power Finance Deal of the Year for 2012 by Latin Finance.
- Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse, RBC Capital Markets and J.P. Morgan Securities LLC in eight separate project bond financings for the Sabine Pass Liquefaction Project owned by Cheniere Energy Partners for the issuance of over $12.8 billion of senior secured notes. The proceeds of these offerings are being used for the construction of five natural gas liquefaction trains at Sabine Pass Liquefaction’s facility in Cameron Parish, Louisiana. The original offering was named North America Midstream Oil & Gas Deal of the Year for 2013 by Project Finance magazine. The “cross-over” bond offerings were named America’s LNG Project Finance Deal of 2016 by Power Finance & Risk.
- Pattern Energy Group LP (Pattern Development) in the financing, including tax equity investments, and $269 million sale of its interests in the 324 MW Broadview Wind power facility in New Mexico and the associated independent 35-mile 345 kV Western Interconnect transmission line to Pattern Energy Group Inc. This matter was named the 2016 “North America Transmission Deal of the Year” by IJGlobal.
- Société Générale and Morgan Stanley as joint lead arrangers and lead underwriters, and a syndicate of commercial bank lenders in a $636 million credit facility provided in connection with the acquisition by EIG Global Energy Partners of a 49 percent interest in the Elba LNG liquefaction facility on Elba Island, Georgia, from Kinder Morgan, Inc. In addition to the acquisition, proceeds of the credit facility will be used to finance EIG’s portion of costs for the construction, installation and commissioning of 10 liquefaction units to be owned by Elba Liquefaction.
- Government of South Sudan in its oil sector negotiations with North Sudan and in South Sudan’s oil production and transportation arrangements with the international oil companies operating in the region.
- A syndicate of 18 international banks and other financial institutions in connection with Sasol Limited’s $4 billion credit facility for its ethane cracker, which converts ethane into ethylene, at its existing site in Lake Charles, Louisiana. This matter was named Americas Petrochemical Deal of the Year for 2014 by Project Finance International and North American Petrochemicals Deal of the Year for 2014 at the first annual IJGlobal Americas Awards.
- U.S. Department of Transportation, acting through its Transportation Infrastructure Finance and Innovation Act (TIFIA) and Railroad Rehabilitation and Improvement Financing (RRIF) credit programs in connection with numerous transportation infrastructure loan transactions. We also have represented the US Department of Energy, acting through its Loan Program Office (LPO), in connection with several projects financed under its loan guarantee programs.