Next Generation Partners

Leading Associates

Energy transactions: electric power – large-cap ($500m+) in United States

Kirkland & Ellis LLP

Te energy and infrastructure practice at Kirkland & Ellis LLP has a strong reputation in transactions in the electric power space. The practice acts as outside counsel for independent power producers, electric and natural gas utilities and marketers, and pipeline owners. From M&A, energy outsourcing agreements, and project financings to fuel source acquisitions, renewable energy credit agreements, and PPA, the team is stand-out. At the helm in Houston is Andrew Calder, with extensive experience in M&A and corporate and securities matters in the energy sector. In New York, Kristin Mendoza is a key contact for private equity firms and strategic investors with cross-border M&A and joint ventures in energy, including renewable projects. Rhett Van Syoc supports the practice’s M&A ability with power generation, services manufacturing, and renewables from Houston. Other stand-out team members include the Houston-based Robert Goodin and Ahmed Sidik, specialists in M&A, private equity investments, and divestitures in the energy sector. William Benitez is also a key contact in Houston for equity investments, recapitalizations, and joint ventures in the sector.

Responsables de la pratique:

Andrew Calder


Autres avocats clés:

Kristin Mendoza; Rhett Van Syoc; Robert Goodin; Ahmed Sidik; William Benitez; Allan Kirk; John Pitts


Les références

‘Kirkland has an expert in every field needed. If you need it, they have it. They are always available, and we have access to senior partners on every engagement.’

‘Super knowledgeable, incredibly hardworking and responsive.’

Principaux clients

Apollo Global Management


ArcLight Capital Partners


Ares Management


Bernhard Capital Partners


Blackstone


Brookfield


CBRE Investment Management


ContourGlobal


Constellation Energy


Engine No. 1


Global Infrastructure Partners (GIP)


Kindle Energy


KKR


Morgan Stanley Infrastructure Partners


Mountain Creek Power


New York Clean Power Holdings


Talen Energy Corporation


TPG Rise Climate


Principaux dossiers


  • Advised Constellation Energy in its pending acquisition of Calpine in a cash and stock transaction valued at an equity purchase price of approximately $16.4bn, composed of 50 million shares of Constellation stock and $4.5bn in cash plus the assumption of approximately $12.7bn of Calpine net debt.
  • Advised Blackstone on a commitment by funds managed by Blackstone Infrastructure and Blackstone Real Estate to invest over $25bn to support the build out of Pennsylvania’s digital and energy infrastructure.
  • Advised Blackstone Infrastructure on a definitive agreement to acquire TXNM Energy for $61.25 per share in cash upon closing.

Latham & Watkins

The energy transactional team at Latham & Watkins has a market-leading electricity transactions practice, with expertise across power generation, transmission and distribution infrastructure, offshore and onshore wind, solar, energy storage, and nuclear power. The practice specializes in high-profile M&A, secured lending, corporate finance, and project development. David Owen, a specialist in complex M&A and JVs in the wind, solar, and battery storage sectors, and David Kurzweil, a veteran with power-related M&A, lead the practice from New York. In Houston, Trina Chandler supports the practice’s ability with power and renewables, energy transition mandates, and the infrastructure sector. Also in Houston, Lauren Anderson is a key contact for energy-related private equity and M&A transactions. The New York-based Caroline Phillips strengthens the practice’s ability to serve public and private companies and private equity firms across the power and renewables, energy transition, and infrastructure sectors. Christopher Cross co-chairs the New York team’s corporate practice, supporting private equity firms and corporates in high-stakes energy and infrastructure transactions. The Washington DC-based Ethan Schultz is a key practitioner for renewable energy and cleantech infrastructure transactions.

Responsables de la pratique:

David Owen; David Kurzweil


Autres avocats clés:

Trina Chandler; Caroline Phillips; Ethan Schultz; Lauren Anderson; Christopher Cross; Marc Klepner


Les références

‘The Latham team is highly knowledgeable, commercial and responsive. They strike a good balance between providing important advice and protecting their client on key legal matters. They are a pleasure to work with.’

‘David Owen and Marc Klepner are fantastic to work with. They are highly knowledgeable, thorough, provide good advice, and are always highly responsive. They also do a good job of balancing legal concerns with commercial realities.’

Principaux clients

Vistra Corp.


Fibrebond Corporation


Potomac Intermediate Holdings II, LLC


Calpine Corporation


Avangrid, Inc.


Just Energy (U.S.) Corp.


Orsted A/S


Copenhagen Infrastructure Partners


Doral Group Renewable Energy Resources Ltd


Principaux dossiers


  • Advised Calpine Corporation in its $26.6bn acquisition by Constellation.
  • Advised Vistra Corp. in its acquisition of seven modern natural gas-fired power plants from Lotus Infrastructure Partners, totaling approximately 2,600 MW of capacity.
  • Advising Ørsted in negotiating a power purchase agreement with Montana-Dakota Utilities Company for the Badger Wind project in North Dakota.

Gibson, Dunn & Crutcher LLP

Public and private M&A, project acquisitions and investments, joint ventures, project development, financings, and capital market transactions are key areas of expertise for Gibson, Dunn & Crutcher LLP. The team is active across utility-scale solar and wind projects and often handles electric transmission infrastructure, lithium extraction, CCUS, and battery storage transactions. From New York, Peter Hanlon and Nicholas Politan lead the practice. Hanlon focuses on transactions in the power sector, including generation, transmission, and distribution. Politan specializes in domestic and cross-border energy transactions, including M&A, financings, and project development mandates. Other key practitioners include Emad Khalil in New York, experienced in acquisitions, dispositions, joint ventures, and financings. Also in New York, John Gaffney strengthens the practice’s ability in cleantech, renewable energies, and M&A, as well as capital markets and securities regulation. Vlad Zinovye is a rising practitioner adding to the practice’s ability in cross-border energy and infrastructure transactions.

Responsables de la pratique:

Nicholas Politan; Peter Hanlon


Autres avocats clés:

Emad. Khalil; John Gaffney; Darius Mehraban; Daniel Alterbaum; Vlad Zinoyev


Principaux clients

Algonquin Power & Utilities Corp.


energyRe


Lazard Ltd.


Berkshire Hathaway Energy Co.


American Electric Power Company, Inc.


Principaux dossiers


  • Advised Algonquin Power & Utilities Corp., a renewable energy and utility company, on the $2.5bn sale of its renewable energy business (excluding hydro) to a subsidiary of LS Power.
  • Advised Lazard, as financial advisor to Constellation Energy Corporation, in connection with Constellation in the $26.6bn acquisition of Calpine Corporation.
  • Advised Berkshire Hathaway Energy Company and its utility subsidiaries PacifiCorp, MidAmerican Energy Company, Nevada Power Company, and Sierra Pacific Power Company on the refinancing of their revolving credit facilities in the aggregate amount of $8.9bn.

Simpson Thacher & Bartlett LLP

Across the spectrum of M&A, Simpson Thacher & Bartlett LLP’s energy and infrastructure team works on electric power and transmission, BESS, data center, thermal energy, and industrial manufacturing mandates. Breen Haire is the team lead in Houston, while Eli Hunt leads in New York, and Amy Mahon in London. Haire specializes in advising private equity investors and public and private companies in the infrastructure sector. Hunt, a key advisor to public and private companies, private equity funds, and investors across the electricity and alternative energy markets, is one of the firm’s leading contacts for electric power work. New York-based Brian Chisling supports the practice’s ability with corporate and regulatory matters with energy and infrastructure clients. Based in Los Angeles and New York, Javad Asghari is another stand-out practitioner on the team for greenfield and brownfield mandates in project development, finance, acquisitions and disposals.

Responsables de la pratique:

Breen Haire; Eli Hunt; Amy Mahon


Autres avocats clés:

Javad Asghari; Shamus Crosby


Principaux clients

Aggreko


American Electric Power


Arclight


Avnos


Bank of America


Bank of Montreal


BlackRock


Blackstone


Bridgepoint Group


Brookfield


Capital Power


CBRE Group, Inc.


ContourGlobal


DigitalBridge


EIG


Energy Capital Partners


Enverus


EQT


EVgo Inc.


First Reserve


GIC


Global Infrastructure Partners, a part of BlackRock


Goldman Sachs


Greenvolt – Energias Renováveis, S.A.


GridTek Utility Services


Hecate Grid, LLC


Holloway Management, LLC


Ingenieria Estrella, S.A.


Invenergy


I Squared Capital


ITC Holdings Corp.


JPMorgan Chase Bank


Kohlberg Kravis Roberts & Co. L.P.


LS Power


Macquarie Infrastructure and Real Assets


Morgan Stanley Infrastructure


NextEra Energy Resources


Public Sector Pension Investment Board


Riverstone Credit Partners


Rosebank Industries plc


SIBA Energy Corporation


Stonepeak Infrastructure Partners L.P.


SunPower Corporation


Terra-Gen LLC


Vanguard Renewables


Voltera Power LLC


Zenobe


Principaux dossiers


  • Represented Capital Power Corporation in its $2.2bn acquisition of the (i) 1,124 MW Hummel Station, a combined-cycle natural gas facility in Shamokin Dam, Pennsylvania and (ii) 1,023 MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, Ohio, and related financing.
  • Represented KKR in its $50bn partnership with Energy Capital Partners.
  • Represented KKR and the Public Sector Pension Investment Board in its acquisition of a 19.9% interest in American Electric Power’s Ohio and Indiana & Michigan transmission companies for $2.82bn.

Akin

The projects and energy transition team at Akin is called upon by major energy companies to advise on grid modernization, energy transition, and technology integration in the electrical power sector. M&A, joint ventures, and corporate governance are the focus for the transactional team for projects related to natural gas, coal and nuclear generation, transmission and grid infrastructure, and distributed generation. Zachary Wittenberg and Ike Emehelu in New York and Matthew Kapinos in Houston lead the practice. Emehelu is a key contact for transactions in electric power, with a focus on project finance in the renewables sector. Kapinos specializes in project development, acquisitions, divestitures, and joint ventures for energy assets. In New York, Brad Warner is a standout practitioner for project finance and corporate transactions involving renewable energy assets.

Responsables de la pratique:

Zachary Wittenberg; Ike Emehelu; Matt Kapinos


Autres avocats clés:

Shariff Barakat; Vanessa Wilson; Dan Lynch; Brad Warner


Principaux clients

CenterPoint Energy Inc.


MUFG Bank, Ltd.


CIM Group LLC


NextEra Energy, Inc.


National Grid


Vistra Corp.


Cricket Valley Lenders Ad Hoc Group


Charter Communications, Inc.


Convergent Energy & Power Inc.


Principaux dossiers


  • Represented Kennedy Lewis Investment Management in connection with 1) a financing to Osaka Gas Michigan Power, 2) a loan to facilitate the acquisition of Red Oak Power LLC, a natural gas-fired power generation facility located in New Jersey, and 3) a senior secured equipment supply loan to FPS Finance Co 1, LLC, a wholly owned subsidiary of Frontier Infrastructure Holdings, LLC.
  • Represented Convergent Energy & Power in the closing of a $584.5m loan from the Federal Financing Bank guaranteed by the U.S. Department of Energy to finance the construction of a portfolio of solar photovoltaic and battery energy storage systems across Puerto Rico.
  • Representing CIM Group, LLC in connection with several solar and storage projects, power purchase agreements, and investment tax credits.

Eversheds Sutherland

Eversheds Sutherland‘s transactional electric energy practice is a go-to for electric cooperatives and generation and transmission owners. Herbert Short, Thomas Warren, Cindy Upchurch, and Peter Fozzard lead the practice from Atlanta. Short is a veteran in the electric cooperative and utility finance realm, and Warren has extensive experience in renewable energy and high-value transactions. Upchurch is a key contact for bond indentures, secured and unsecured credit facilities, and lease financings, while Fozzard is noted for his ability with generation and transmission cooperatives. In Washington DC, Robert Lamkin is a key advisor to trading firms, project developers, and utilities across transactions. From New York, Lance Phillips handles cross-border M&A, divestitures, and private equity mandates related to energy. Alyssa Walker supports the practice’s ability with power purchase agreements, M&A, and regulatory mandates from Atlanta.

Responsables de la pratique:

Herbert Short; Thomas Warren; Cindy Upchurch; Peter Fozzard


Autres avocats clés:

Robert Lamkin; Darryl Smith; Alyssa Walker; Katie Wymer Clarke


Principaux clients

Oglethorpe Power Corporation


Hoosier Energy Rural Electric Cooperative, Inc.


Wolverine Power Supply Cooperative, Inc.


Georgia Transmission Corporation


Enbridge Inc.


Principaux dossiers


  • Acting as lead counsel to Oglethorpe Power Corporation in delivering reliable electricity to the state of Georgia.
  • Representing Wolverine and Hoosier on electric finance power supply and initiatives, including its initiative in entering into a long-term power purchase arrangement out of the Palisades Nuclear Plant in Michigan.

Milbank

Specializing in cross-border project finance and development, and large-scale M&A, Milbank‘s transactional electric power practice is a key advisor to debt and equity investors, private sponsors, and government lenders. From New York, the team is led by Daniel Michalchuk and Daniel Bartfeld. Michalchuk is a veteran advisor to project sponsors and financial institutions across domestic and international project financings in both renewables and conventional energy. Bartfeld is an expert with financial institutions and investment firms in transactions across the power and energy sectors. Also in New York, William Bice is a key contact for development, financing, acquisitions, disposition, and restructuring mandates related to power generation and transmission projects. Supporting the practice’s ability with project sponsors on domestic and cross-border financings and transactions in the energy sphere are Jeffrey Leider and Sean O’Neill, both based in New York.

Responsables de la pratique:

Daniel Michalchuk; Daniel Bartfeld


Autres avocats clés:

William Bice; Jeff Leider; Sean O’Neil; Rhys Howard; Micaela McLean


Les références

‘We have worked with the Milbank power and infrastructure team led by Bill Bice on very strategic « bet the company » transactions. Bill provided excellent counsel, balancing legal, strategic and commercial objectives.’

‘Bill Bice provided excellent counsel, balancing legal, strategic and commercial objectives to help us through very significant transactions.’

‘Micaela McLean provided great advice as we worked through complicated debt transaction issues. She was highly responsive and able to synthesize competing objectives into actionable advice.’

Principaux clients

LS Power


SMBC


Arclight


Natixis


Strategic Value Partners


Energy Capital Partners (ECP)


Mizuho Bank


Barclays Bank


First-Citizens Bank & Trust Company


Sumitomo Mitsui Banking Corporation


Principaux dossiers


  • Represented LS Power in the sale of a portfolio of natural gas generation facilities and power plant platform in a cash-and-stock deal.
  • Represented Lenders and Arrangers in connection with their commitment to provide partial financing of Brookfield’s agreement to invest in a 19.7% non-controlling equity interest in Duke Energy Florida for $6bn.
  • Advised Blackstone Credit & Insurance on the definitive documents between EQT Corporation and funds managed by BXCI to form a new midstream joint venture consisting of EQT’s ownership interest in contracted infrastructure assets, including back-leveraged investment grade notes issuance.

Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP‘s transactional energy team focus on complex M&A, project financings, and development projects for clients across the electric energy value chain. The team has experience with conventional and renewable electric power mandates, including renewable natural gas and hydrogen, carbon credits and carbon sequestration, and power transmission and storage. Elizabeth Hanigan leads the wider practice from Chicago. John Klauberg is a key contact for utility and electric power M&A in New York. In Boston, Michael Müller specializes in development, financing, acquisitions, and the disposition of energy and infrastructure projects. Other stand-out practitioners include Michael Espinoza in New York, focused on transactions in the power, gas, regulated utility, renewables, and nuclear sectors, and Neeraj Arora in Los Angeles, experienced in power generation, transmission line, and pipeline projects.

Responsables de la pratique:

Elizabeth Hanigan


Autres avocats clés:

John Klauberg; Michael Müller; Michael Espinoza; Amy Maloney; Neeraj Arora


Skadden, Arps, Slate, Meagher & Flom LLP

Across the electric power space, Skadden, Arps, Slate, Meagher & Flom LLP advises clients on M&A, project finance, and project development throughout North America, Latin America, Africa, Asia and the Middle East. The team’s clientele includes major banks, energy companies, and government agencies. Global head of energy and infrastructure projects and a specialist in project and acquisition finance, Aryan Moniri heads the practice from Washington DC. Paul Schockett is a key contact for energy tax on domestic and cross-border transactional and planning mandates. Other stand-out team members include Paul Kraske in DC, who also supports the practice’s tax ability on projects.

 

Responsables de la pratique:

Aryan Moniri


Autres avocats clés:

Paul Schockett; David Armstrong; Paul Kraske; Eric Otness


Principaux clients

Barclays


BCE, Inc.


Long Ridge Energy


Clean Path New York


Novia Scotia Power


Aker ASA


Blue Owl Digital/STACK Infrastructure


Five Point Infrastructure LLC


The U.S. Department of Energy


Principaux dossiers


Vinson & Elkins LLP

Vinson & Elkins LLP advises sponsors, banks, infrastructure funds, and institutional lenders across the full life cycle of power projects. Portfolio transactions, strategic M&A, aligning acquisition structures with refinancing, and project development and finance are key areas of focus for the practice. Kaam Sahely in Austin and Matthew Strock in Houston co-lead the team. Sahely specializes in representing investors and developers across the renewable and sustainable energy sectors; Strock is a key advisor to private equity firms across the energy sphere. Eamon Nolan in New York focuses on project finance for large infrastructure and energy projects. Other key contacts include in Houston include Mark Brasher, noted for his experience with power, LNG, data centers, and renewable energy assets, and Stephanie Coco, an expert with project development, complex structured transactions, and M&A.

Responsables de la pratique:

Kaam Sahely; Matthew Strock


Autres avocats clés:

Eamon Nolan; Mark Holmes; Mark Brasher; Stephanie Coco


Principaux clients

Goldman Sachs & Company


Talen Energy Corporation


QEP Partners, LP


Elliott Management Corp.


Wells Fargo Bank, National Association


Calpine Corporation


Critical Project Services LLC


Cantor Fitzgerald, L.P.


Longview Infrastructure, LLC