Energy Transactional
Demands for green power and prospective environmental regulations are transforming how utilities and large loads purchase their power and develop their generation resources.
Nuclear and gas-fueled plants are replacing coal-fired plants, and commercially sized solar projects are in the early stages of becoming economically viable.
In our transactional work, we have represented utilities, cooperatives, municipalities, lenders and large loads. The breadth of our experience enables us to assess quickly and accurately the alternatives for meeting client needs and the requirements of the marketplace.
Successful transactions for the purchase of power or construction of generation require knowledge and experience in the commercial, financial, regulatory and environmental rules, regulations and practices driving energy markets. We have both regulatory and environmental lawyers who work with our transactional attorneys on power purchase and new resource development projects.
As a team, we participate in the structuring of power purchase transactions and the development of projects for new resources. Working together we are able to negotiate terms and conditions that meet the requirements of the marketplace and are in full compliance with regulatory and environmental laws, rules and practices. Our projects have operated within RTOs and in open markets. We have been leaders in the inclusion of meaningful and accessible credit support terms in power supply and development agreements.
Client Work
Our recent work has included the following:
- Advising on the sale, acquisition, and restructuring of ownership interests in large‑scale natural gas–fired power generation facilities, including transactions involving minority and controlling interests, project development investments, and cross‑border energy infrastructure assets.
- Negotiating and amending long‑term power purchase agreements for a utility‑scale renewable energy project, including advising on default provisions and contract modifications with project developers.
- Negotiation of long-term all-requirements scheduling agent and power purchase agreements.
- Participation in the evaluation of proposals and negotiation of project documents for the design and construction of a biogas project.
- Development of a competitive procurement program for long-term power purchase agreements.
- Negotiation of power purchase agreements for alternative energy in compliance with the requirements of a Renewable Portfolio Standard.
- The drafting of contracts for improvements to transmission lines and other infrastructure to accommodate a large load.
