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Energy – Electric Power
Vinson & Elkins combines experience in mergers and acquisitions, project development and finance, energy regulation, environmental compliance, tax, and litigation with deep industry knowledge to serve clients involved in the electric power industry. The firm represents electric generating, transmission, and distribution utilities, independent power producers, financial institutions, clean energy companies, power traders, and private equity and venture capital investors.
Chambers USA: Energy: Electricity: Regulatory & Litigation (Nationwide), 2023-2024
Chambers USA: Offshore Energy (Nationwide), 2023-2024
V&E has been involved in a number of award-winning conventional and renewable power generation and transmission projects around the globe, demonstrating particular strength in Latin America, North America, the Middle East, and Africa. The team is familiar with the entire suite of contractual arrangements involved in the development of a power project, from siting and permitting, through engineering, construction, financing, and operation.
The firm also routinely handles matters related to regional transmission organizations, rate filings for transmission and ancillary services, electric cooperative and municipal power agency financings and restructurings, hydroelectric licensing and compliance, and related federal and state regulatory matters.
Experience Highlights
Blackstone Credit and ClearGen, a Blackstone Credit portfolio company, in the formation of a strategic partnership between ClearGen and GreenStruxure, a Schneider Electric and Huck Capital joint venture, to develop, own and operate up to $500 million of renewable energy microgrid systems for C&I customers
8 Rivers Capital in its joint venture with ADM to develop the 280 MW Broadwing Clean Energy Complex in Illinois, one of the world’s first zero emissions Allam-Fetvedt cycle power plants, including CO2 storage capabilities
8 Rivers Capital in its joint venture with The Southern Ute Indian Tribe Growth Fund to develop the 280 MW Coyote Clean Power Project in Colorado, one of the world’s first zero-emissions NET Power natural gas-fired power plants, including CO2 capture and storage capabilities
AltaGas in the $6.4 billion acquisition of WGL Holdings, owner of a regulated natural gas utility, a midstream franchise and non-regulated contracted power and energy marketing businesses throughout the United States
Tyr Energy in the acquisition of 100% of the equity interests in Hickory Run Energy, and development, equity syndication and project financing of a 1,000 MW natural gas-fired combined cycle power plant in PJM (2017 IJGlobal North American Power Deal of the Year)
A specialist bank and asset manager in a $297 million secured term loan and revolving credit facility to Lincoln Power in connection with its acquisition and refinancing of three natural gas-fired electric generating plants in Illinois
Morgan Stanley Infrastructure Partners in its acquisition of the Red Oak Power Plant, an 805 MW combined cycle, natural gas-fired generation facility, from Cogentrix, an affiliate of the Carlyle Group
Riverstone Holdings in the $9.5 billion formation of Talen Energy Corporation, one of the largest independent power producers in the U.S., through a Reverse Morris Trust spin-off of PPL Corporation’s merchant power generation business and the concurrent combination thereof with Riverstone’s merchant power generation business and associated debt financings
Wayzata Investment Partners in the $625 million sale by its portfolio company, MinnTex Power Holdings, of its 1,050 MW, combined-cycle power plant in Guadalupe County, Texas to Calpine Corporation
The Carlyle Group in the acquisition of the North American power generation assets of Cogentrix Energy, including five coal and solar power projects and a development pipeline of gas and renewable projects, from The Goldman Sachs Group
Transelec S.A. in the development and project financing of a 188 km electric transmission line that delivers energy to the Caserones copper mine in Chile
AES Gener S.A. in connection with the development and $1.05 billion project financing of the Cochrane power plant in Chile, a 472 MW (net) pulverized coal-fired generating facility in Chile, with financing provided by JBIC, NEXI, K-Sure, and various commercial banks
LS Power in the project financing of the Cross Texas Project, an approximately 234-mile electric transmission line and related facilities
Trans-Allegheny Interstate Line Company in the project financing of an approximately 210-mile electric transmission line and related facilities
Spark Energy Inc. in its $54 million initial public offering of common stock
Obtained approval pursuant under Section 203 of the Federal Power Act for the acquisition of a transmission and distribution utility, where the new ownership structure was designed to facilitate the creation of a real estate investment trust, the first time such an ownership structure was approved by FERC
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