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Power Industry M&A

Power Industry M&A

Our attorneys have served as lead counsel for numerous transactions involving mergers, sales and acquisitions in the electric power industry, including both asset and stock deals and including transactions involving electric generating plant assets sourcing their energy from gas, coal, wind and nuclear fission.   From initial due diligence, negotiation and documentation of the transaction through closing, we proactively work with our clients to achieve their goals as efficiently as possible.  In large transactions, sophisticated in-house attorneys will often assemble a team of specialists across multiple law firms to ensure that each area of required focus receives appropriate expertise.  We are well known for our ability to lead such teams and we enjoy several strong relationships with experts in the areas of tax law, real estate law, energy regulatory law, bankruptcy law and environmental law, in the event that clients require their expertise.

Representative Transactions:

  • Lead counsel to Southern Power Company in its $206 million acquisition of a 680 MW gas-fired simple-cycle combustion turbine facility in Brevard County, Florida from Constellation Energy Group
  • Counsel to Wisconsin Electric Power Company in its sale of the Point Beach Nuclear Power Plant to FPL Energy and the negotiation of a long term power purchase agreement (PPA) with the new plant owner
  • Lead counsel to Southern Power Company in connection with the acquisition of DeSoto County Generating Company, LLC, owner of a nominal 320 MW simple-cycle combustion turbine facility in DeSoto County, Florida
  • Counsel to independent power producer in connection with its $300 million sale of a 2x1 gas-fired power-island to a regulated utility in Louisiana, while retaining the second power-island on the same facility, with implementation of co-owned common facilities structure
  • Lead counsel to Southern Power Company in its $325 million acquisition of an approximately 945 MW simple-cycle and combined-cycle dual fuel generating facility in Rowan County, North Carolina from Progress Energy
  • Counsel to Nations Energy in its divestiture of a 30% ownership interest in the 320 MW electric power and district power project in Kladno, Czech Republic
  • Counsel to Illinois Power Company in connection with the sale of the Clinton Nuclear Power Station, negotiation of the definitive asset purchase agreement and advice concerning U.S. Nuclear Regulatory Commission approval to transfer the operating license
  • Counsel to a major investor-owned utility company in connection with the potential acquisition of multiple renewable energy assets
  • Counsel to major U.S. energy companies in connection with the potential acquisition of commercial electric generating plant assets of all fuel types, including gas, coal and nuclear, as well as renewable energy assets
  • Co-counsel to unregulated utility affiliate in the sale of an undivided ownership interest in two 615MW supercritical pulverized coal generating units in Wisconsin
  • Counsel to the purchaser in connection with the successful £1.1 billion tender offer for South Western Electricity plc (SWEB) in England.   Subsequent representation of the client in the sale of a 25% interest in the U.K. holding company for SWEB to another U.S. investor and the subsequent sale of a 26 % economic interest and 24 % voting interest in the holding company
  • Counsel to the purchaser in its acquisition of a 39 % interest in the Power Generation Company of Trinidad and Tobago Limited
  • Supervising project and finance counsel for Southern Energy, Inc. in the acquisition of stock in Empressa Eléctrica del Norte Grande S.A., Chile
  • Supervising project counsel and finance counsel for Southern Energy, Inc. in the acquisition and initial financing of Hidroelectrica Alicura, S.A., Argentina
  • Supervising project counsel and finance counsel for Southern Energy, Inc.  in the acquisition of Freeport Power Company, Bahamas
  • Counsel to Southern Energy, Inc. in the tender for Gladstone Power Station, Brisbane, Australia
  • Counsel to Southern Energy, Inc. in the tender for the Petacalco Pier and Coal Handling Facility in Michoacan, Mexico
  • Lead project and finance counsel for Southern Energy, Inc. in the tender for the Loy Yang B Power Station, Victoria, Australia
  • Lead project and finance counsel for Southern Energy, Inc. in the tender for the Kilroot Power Station, Northern Ireland
  • Lead counsel for Georgia Power Company (Georgia Power) in the sale of Plant Scherer Unit No. 4 to Florida Power & Light Company and Jacksonville Electric Authority
  • Lead counsel for Georgia Power in its disposition of undivided ownership interests in Rocky Mountain Pumped Storage Hydroelectric Project to Oglethorpe Power Corporation (OPC)