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Energy – Investing in Renewables

Recognized by Chambers USA (Band 1 in Projects: Power & Renewables: Transactional, 2019) and Legal 500 (Energy: Renewable/Alternative Power, 2019), Vinson & Elkins’ Clean and Renewable Energy practice leverages the firm’s market leading energy and infrastructure experience. The firm represents clients engaged in innovative and challenging alternative energy transactions including solar, wind, hydro, energy storage, renewable fuels, fuel cells, electric vehicles, geothermal, smart grid applications, biofuels, biomass, waste-to-energy, and other state-of-the-art technologies. Clients range from start-ups to Fortune 500 companies to venture capital and private equity sponsors aggregating or financing clean energy projects. Our client base includes some of the pre-eminent and longest standing investors in clean and renewable energy.

Transactions include:

  • Mergers and acquisitions
  • Full suite of project development matters
  • Project and other financing structures
  • Regulatory advice and counseling
  • Tax equity transactions
  • Technology licensing
  • Environmental permits, wildlife impact, and land use advice
  • Purchase and sale of environmental attributes, including renewable energy credits

Experience Highlights

  • Goldman Sachs Renewable Power Fund in the $350 million acquisition from Marina Energy, a subsidiary of Southern Jersey Industries, of its solar portfolio comprised of 76 distributed solar energy projects with total capacity of 204 MW

  • Global Atlantic Financial Group in the $1.175 billion acquisition from Southern Power of a 33 percent minority interest in its solar portfolio (comprised of 26 operating solar facilities representing approximately 1.7 gigawatts of capacity)

  • The Carlyle Group’s Renewable and Sustainable Energy Fund on a range of transactional matters, including in the formation of a joint venture with Alchemy Renewable Energy, LLC (ARE), a renewable energy developer and tax equity arranger

  • Goldman Sachs Renewable Power Fund in its acquisition of a 142 MW portfolio of solar power generation assets from a subsidiary of Macquarie Infrastructure Corporation

  • AltaGas Power in its $20 million sale of its interests in two biomass plants 

  • Macquarie Infrastructure and Real Assets in the approximately $176 million acquisition of various renewable power portfolios in Mexico 

  • TPG Sixth Street Partners in virtually all of its renewable energy investments, including multiple acquisitions of wind and solar assets, and related financings

  • Clean Line Energy Partners,  a developer of renewable energy transmission projects, in the $50 million equity investment in the company by Bluescape Resources 

  • Duke Energy in the upgrade of its Notrees wind farm battery system, including negotiations with Samsung SDI America, Inc. for the provision of new batteries and Younicos, Inc. for installation and service of the energy storage management system

  • Riverstone Holdings in the acquisition by SunEdison of a 50% ownership stake in Silver Ridge Power, a Riverstone Holdings portfolio company and owner of solar power plant operating projects and a developing solar power facility

  • Tyr Energy, an Itochu Corporation, in its $500 million joint equity investment in the 845 MW Shepherds Flat wind power generation project in Eastern Oregon, currently the largest wind farm in the world

  • Duke Energy in its 36 MW battery storage project for its approximately 150 MW wind farm in Texas, one of the largest battery storage projects to date

  • The Goldman Sachs Group, Inc. in its investment in Clean Coal Solutions, LLC (and multiple related projects); investments in and ongoing matters in connection with various wind, solar and other alternative energy projects and companies

  • King Abdullah City for Atomic and Renewable Energy on the establishment of a legal and regulatory framework for a renewable and civil atomic energy sector in the Kingdom of Saudi Arabia

  • Represent multiple clients in negotiating contracts related to the deployment of advanced meters, including multiple rulemakings at the Public Utility Commission of Texas and in the related state court appeal

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