News & Achievements

Clean Energy Announces Up to $400 Million in Financing with Stonepeak

Deals & Cases

December 13, 2023 • 1-minute read

Vinson & Elkins advised Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, in a six-year $300 million senior secured term loan and a two-year delayed draw term loan commitment of an additional $100 million extended to Clean Energy Fuels Corp.

In connection with this transaction, Clean Energy also issued warrants to Stonepeak for the purchase of 20 million shares of common stock. In addition to repaying existing loans, the financing from Stonepeak will provide Clean Energy with capital for new renewable natural gas production facilities, as well as the expansion of the company’s fueling infrastructure targeting the heavy-duty truck market.

The Vinson & Elkins team was led by partners Cris Dewar, Benji Barron and Jackson O’Maley, with assistance from associates Payton Hampton, John Frey, Maggie Sternberg and Jack Kimmel. Other key team members include partners Wendy Salinas and Lina Dimachkieh and associate Tyler Underwood; partner Alan Alexander, senior associate Michael Zarcaro and associates Hoo Ray, Joseph Balhoff and Rob Vezina; partner Courtney Hammond and senior associate Mark Kramer; partner Jamie Tabb, counsels Brian Howard, Elizabeth McIntyre and Jeremy Reichman and associates Connor Wilson and Jimmy Hopper; partner Patricia Adams and associate Keira Kuntz; and partner Matt Dobbins and associate Kelly Rondinelli.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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