Vinson & Elkins advised Hygo Energy Transition Ltd. (“Hygo”) in connection with a definitive agreement for New Fortress Energy Inc. to acquire Hygo, a 50-50 joint venture between Golar LNG Limited and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners and Golar LNG Partners, LP. The transaction is valued at a $3.1 billion enterprise value and a $2.18 billion equity value.
Vinson & Elkins advised global investment firm The Carlyle Group in a strategic growth investment through a $374 million commitment to Amp Solar Group, Inc., a Canadian-based global renewable energy infrastructure developer, owner and manager. Since 2009, the Company has successfully developed over 1.8 gigawatts of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects, and stand-alone battery storage projects around the world.
Vinson & Elkins advised Takkion Holdings LLC, a portfolio company of funds managed by affiliates of Apollo Global Management, Inc. and premier multimodal logistics and transportation provider for energy transition infrastructure, in connection with its acquisition of Sioux Falls, SD-based Renew Energy, Inc. and its subsidiaries.
Vinson & Elkins advised Mercuria Investments US, Inc. in its acquisition of HC2 Holdings, Inc.’s majority-owned clean energy subsidiary Beyond6, Inc. for approximately $169 million. HC2, which owns approximately 61% of Beyond6 on a fully diluted basis, expects to receive approximately $65 million in cash, subject to customary closing adjustments.
Vinson & Elkins advised the underwriters in connection with an underwritten public offering of 7,525,000 shares of common stock by Sunnova Energy International Inc. and funds affiliated with Newlight Partners. The offering closed on December 3, 2020.
The Times has named Vinson & Elkins to its 2021 Best Law Firms list, commending the firm for its work in energy and renewables.
Vinson & Elkins advised Rice Acquisition Corp. in connection with its initial public offering (“IPO”) of 21,500,000 units at a price of $10.00 per unit. The units were listed on the New York Stock Exchange and began trading under the ticker symbol “RICE U” on October 22, 2020.
Vinson & Elkins advised funds managed by affiliates of Apollo Global Management, Inc. in connection with the formation of a joint venture with Altius Minerals Corporation’s subsidiary, Altius Renewable Royalties (“Altius”), to accelerate the growth of Great Bay Renewables, the US-based operating subsidiary of Altius and a leading provider of renewable energy development capital in North America.
Vinson & Elkins advised Tortoise Acquisition Corp. II in connection with its initial public offering (IPO) of 34,500,000 units at a price of $10.00 per unit. This includes the exercise in full by the underwriters of their option to purchase up to an additional 4,500,000 units. The IPO closed on September 15, 2020.
Vinson & Elkins advised The Carlyle Group on the acquisition of a portfolio of solar development projects in the state of Maine, through a newly-established affiliate Acadia Renewable Energy, LLC, from the global solar independent power producer BNRG. V&E also advised Carlyle in securing construction and permanent debt financing for the portfolio.