Atlantic Power Acquires Ownership Interests in Two Biomass Plants from AltaGas
Vinson & Elkins advised AltaGas Power Holdings (U.S.) Inc. (AltaGas) in the execution of an agreement whereby Atlantic Power Corporation will acquire the equity ownership interests held by AltaGas in two contracted biomass plants in North Carolina and Michigan.
Specifically, Atlantic Power will acquire a 50% interest in Craven County Wood Energy, a 48 megawatt (MW) biomass plant in North Carolina that has been in service since October 1990, and a 30% interest in Grayling Generating Station, a 37 MW biomass plant in Michigan that has been in service since June 1992, from AltaGas.
The V&E corporate team was led by partner Trina Chandler and senior associate Benji Barron with assistance from associate Mariam Boxwala. Also advising were partner Jason McIntosh and associates Brian Russell and Curt Wimberly; senior associate Matt Dobbins and associates Jennifer Cornejo and Austin Pierce; partner John Decker; partner Sean Becker; and partner Stephen Jacobson and senior associate Kristy Fields.
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