Vinson & Elkins is advising 8 Rivers Capital, LLC, (8 Rivers) in connection with two projects announced on April 15, 2021.
Vinson & Elkins advised the banks in connection with the committed financing package for the acquisition by New Fortress Energy Inc. of Hygo Energy Transition Ltd. and Golar LNG Partners LP. The financing consisted of an offering of $1.5 billion aggregate principal amount of senior secured notes due 2026 and a $200 million revolving credit facility.
Vinson & Elkins advised Blackstone, the largest global alternative asset manager in the world, in connection with the agreement by private equity funds affiliated with Blackstone to acquire Sabre Industries, Inc. (“Sabre”) from The Jordan Company. The acquisition of Sabre continues Blackstone Energy Partners’ focus on investing in companies that support the transition to cleaner, more affordable energy.
Vinson & Elkins advised Buckeye Partners, L.P. and Nala Renewables in connection with their acquisition of a majority interest in Swift Current Energy, a leading North American clean energy development and investment platform.
Vinson & Elkins advised First Reserve Sustainable Growth Corp. in connection with its initial public offering of 22,243,955 units at a price of $10.00 per unit, including 2,243,955 units that were issued pursuant to the underwriters’ partial exercise of their over-allotment option. The IPO closed on March 9, 2021.
Vinson & Elkins advised the underwriters in connection with ECP Environmental Growth Opportunities Corp.’s (the Company) closing of its initial public offering of 34,500,000 units, which included the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit, resulting in gross proceeds of $345,000,000. The offering closed on Feb. 11, 2021.
Vinson & Elkins advised Decarbonization Plus Acquisition Corporation, a blank check company sponsored by an affiliate of Riverstone Holdings LLC, in its entry into a definitive agreement with Hyzon Motors Inc. (“Hyzon”), the industry-leading global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, for a business combination that would result in Hyzon becoming a publicly listed company. The transaction is anticipated to provide gross proceeds of up to approximately $626 million to the company, including a $400 million fully committed common stock PIPE at $10 per share, anchored by existing and new investors.
Vinson & Elkins announced today it has expanded its market leading Renewable and Sustainable Energy and Tax practices with the addition of a nationally recognized renewable energy finance team that includes partners Sean Moran, Mike Joyce, Lauren Collins and Aaron Prince, counsel Josh Heideman and Trevor Shelton, and a number of talented associates.
Vinson & Elkins advised Spartan Acquisition Corp. II, a publicly-traded special purpose acquisition company sponsored by funds managed by an affiliate of Apollo Global Management, Inc., in connection with a definitive agreement for a business combination with Sunlight Financial LLC (“Sunlight”), a premier U.S. residential solar financing platform, that will result in Sunlight becoming a publicly listed company.
Vinson & Elkins advised EVgo Services LLC, the nation’s largest electric vehicle (EV) public fast charging network in the U.S. and a wholly-owned subsidiary of LS Power, in connection with its entry into a definitive agreement with Climate Change Crisis Real Impact I Acquisition Corporation for a business combination that would result in EVgo becoming a publicly listed company.
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.