Enviva Partners, LP Announces Accretive Drop-Down Transactions
Vinson & Elkins served as counsel to the sponsor in Enviva Partners, LP’s agreement to purchase the sponsor’s interest in its first development joint venture, Enviva Wilmington Holdings, LLC (the “First JV”).
The First JV owns a wood pellet production plant under construction in Hamlet, North Carolina and a firm, 15-year take-or-pay off-take contract to supply MGT Power Ltd.’s Tees Renewable Energy Plant with nearly one million metric tons per year of wood pellets, following a ramp period.
The V&E corporate team was led by partners Caroline Phillips and Brittany Sakowitz and associate Heather Brocksmith, with assistance from associate Tara Tegeleci. Also advising were partner Tzvi Werzberger and associates Carter Olson and Erin Brown; partner Ryan Carney, of counsel Price Manford and associate Dan Henderson; partner Darren Tucker and associate Ryan Will; partner Ramey Layne, senior associates Chris Mathiesen and Frankie Shulkin and associate Brittany Smith; and senior associate Daniel Hatch.
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