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David M.Cayce

David M. Cayce

David M. Cayce

Principal
Email: dmcayce@mercerthompson.com
Direct Dial: 404-577-4243
Fax: 404-577-4206
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David Cayce is an energy transactions lawyer who partners with clients to help guide them through a variety of commercial transactions throughout the life spans of electricity generation projects.  Representative matters include project M&A, site acquisition and early-stage development activities, engineering, procurement and construction agreements, operations and maintenance agreements and debt and equity project finance.  David’s work with developers, IPPs and IOUs includes transactions for renewable energy projects, gas-fired power plants and nuclear generation facilities.  David also has extensive experience structuring joint ventures and co-ownership arrangements, as well as leading a multitude of other corporate transactions including private equity and venture capital investments.

Prior to commencing his practice, David served in the United States Navy as a naval officer and naval aviator, flying several aircraft and specializing in antisubmarine warfare, armed surveillance, and search and rescue.

 



Professional Experience

  • Principal, Mercer Thompson LLC, January 2013 - Present
  • Partner, Sutherland Asbill & Brennan LLP, 2000 - 2012
  • United States Naval Officer and Naval Aviator, 1989 - 1997

Representative Transactions

Energy Power Plant Acquisition Transactions

  • Represented the independent power producer (“IPP”) subsidiary of an investor-owned utility in its acquisition of all of the equity interests of two project companies that owned, respectively, a 375 MW natural gas and fuel oil fired, combined-cycle power plant and an operating history of over ten years located in Minnesota, and certain contracts, permits and other site-related rights related to an in-development 345 MW natural gas-fired combined-cycle power plant expansion project.
  • Represented the IPP subsidiary of an investor-owned utility in connection with its simultaneous acquisition of an in-development 150 MW solar photovoltaic electricity generating facility to be constructed in Imperial County, California, an in-development 245 MW solar photovoltaic electricity generating facility to be constructed in Imperial County, California, and an in-development 106 MW wind-powered electricity generating facility to be constructed in Stark and Morton Counties, North Dakota.
  • Represented the IPP subsidiary of an investor-owned utility in connection with its acquisition of an approximately 148 MW wind-powered electricity generating plant to be constructed in Grant County, Oklahoma.
  • Represented the IPP subsidiary of an investor-owned utility in connection with its acquisition of an approximately 152 MW wind-powered electricity generating plant to be constructed in Grant County, Oklahoma.
  • Represented an IPP in the acquisition of an operating 150 MW wind electricity generating facility located in Pecos County, Texas.
  • Represented the IPP subsidiary of an investor-owned utility in its acquisition of a proposed 100 MW solar photovoltaic electricity generating facility located in Taylor County, Georgia.
  • Represented an IPP in the sale of a portfolio of eighteen (18) distributed generation solar photovoltaic electricity generating facilities in Georgia with aggregate capacity in excess of 57 MW.
  • Represented an IPP in the sale of a portfolio of fourteen (14) distributed generation solar photovoltaic electricity generating facilities in Georgia with aggregate capacity in excess of 42 MW.

Power Plant Construction Transactions

  • Represented a contractor in the negotiation and documentation of a turn-key engineering, procurement and construction agreement for the construction of two solar PV plants in California with a combined capacity of 175 MW.
  • Represented a contractor in the negotiation of a turn-key engineering, procurement and construction agreement for the construction of a 106 MW solar PV power plant in California.
  • Represented a contractor in the negotiation of a turn-key engineering, procurement and construction agreement for the construction of a 100 MW solar PV power plant in Texas.
  • Represented a contractor in the negotiation and documentation of a turn-key engineering, procurement and construction agreement for the construction of a 40.0 MW solar PV power plant in North Carolina.
  • Represented energy companies in the preparation and negotiation of engineering, procurement and construction contracts for combined- and simple-cycle natural gas and alternative energy power plants.

Power Plant Procurement Transactions

  • Represented a global supplier of commercial nuclear power facilities in the negotiation of agreements governing the engineering, procurement and construction of the first three commercial nuclear power facilities in the U.S. in three decades.
  • Advised a nuclear energy client and negotiated the procurement and delivery of high-value nuclear reactor plant equipment for facilities being constructed in China, with an aggregate procurement value in excess of $500 million.
  • Negotiated major equipment purchase agreements for the construction of the first wave of new-build nuclear power projects in the U.S., including the procurement of reactor vessels, steam generators, integrated reactor heads, reactor coolant pumps, and containments.
  • Represented energy companies in the drafting and negotiation of equipment procurement agreements for boiler systems, combustion turbines, HRSGs, and steam turbines.
  • Represented a supplier in the negotiation and documentation of an equipment purchase and sale agreement for the supply of solar PV modules and other balance of system components for a 20.0 MW power plant in California.
  • Represented a supplier in the negotiation and documentation of an equipment purchase and sale agreement for the supply by the client of solar PV modules for three solar PV power plants in North Carolina with a combined capacity of 21.0 MW.
  • Represented a supplier in the negotiation and documentation of an equipment purchase and sale agreement for the supply of solar PV modules for two power plants in Puerto Rico with combined capacity of 58.0 MW.
  • Represented a supplier in the negotiation and documentation of an equipment purchase and sale agreement for the supply of solar PV modules and other balance of system components for a 7.0 MW power plant in California.
  • Represented a supplier in the negotiation of an equipment purchase and sale agreement for the supply of solar PV modules and other balance of system components for a 4.5 MW power plant in California.

Site Acquisition and Control Transactions

  • Represented a landowner in the preparation of a purchase and sale option agreement for the sale of approximately 2,700 acres of real property located in Jeff Davis County, Georgia.
  • Represented a landowner in the preparation of a solar lease option agreement for the lease of approximately 900 acres of real property located in Dooly County, Georgia.
  • Represented a solar developer in the preparation of template solar lease option agreements and solar purchase option agreements to secure to obtain site control throughout the United States.
  • Represented a landowner in the negotiation of a solar lease option agreement for the lease of approximately 500 acres of real property located in Leon County, Florida.
  • Represented a landowner in the negotiation of a solar lease option agreement for the lease of approximately 570 acres of real property located in Laurens County, Georgia.

Joint Venture Formation

  • Negotiated consortium agreements for joint performance of EPC agreements for construction of Generation III+ commercial nuclear power facilities.
  • Formed an operating LLC for a manufacturing client with assets totaling approximately more than $75 million.
  • Formed Japanese joint venture operating entity for domestic biotech manufacturer to achieve product distribution channel in Asian market.

Private Equity Transactions

  • Advised sponsor in connection with a $7 million series A-2 capital raise.
  • Advised private equity fund in convertible note funding of portfolio company.
  • Formed industry-focused private equity investment funds to make targeted private equity investments in real estate and life sciences companies.
  • Established a co-investment arrangement which allowed a BDC to invest without forming a sidecar fund or violating regulatory restrictions.

Professional and Community Involvement

  • Past Chairman, Legal Opinions Committee, Business Law Section, State Bar of Georgia
  • Member, American Bar Association
  • Member, Atlanta Bar Association
  • Member, Notre Dame Club of Atlanta

Recent Speaking Engagements

  • Speaker, "Renewable Energy Projects: Structuring Operations and Maintenance Contracts," Strafford Seminar (August 23, 2018)
  • Speaker, “Top 10 Issues When Negotiating a Power Plant EPC Contract,” 2012 Webinar Series: Electric Cooperative Issues (June 12, 2012)
  • Speaker and Panel Moderator, “Legal Opinion Practice in Georgia,” 2011 Georgia Business Law Institute (October 2011)
  • Speaker, “Closing Legal Opinions - LLC Issues,” Institute for Continuing Legal Education in Georgia (September 2011)

Education

  • J.D., with honors, University of Florida Levin College of Law, 2000
  • B.B.A., University of Notre Dame, 1989

Bar Memberships

  • Georgia