Project Finance and Development ENERGY AND CLEANTECH

Our Energy and Cleantech team is skilled in handling all aspects of project development and operation for complex energy projects, from financing, environmental permitting, and the preparation of engineering, procurement and construction contracts to the negotiation of agreements related to electrical interconnection, operation and maintenance, fuel supply and power sales. We have addressed numerous issues for a wide variety of traditional and alternative energy facilities, including cogeneration, hydroelectric, biomass, landfill gas to energy, solar, wave energy and wind power.

Our lawyers have assisted clients in applying for and obtaining government grants, loans, and loan guarantees in the energy area, including those issued by the US Department of Energy and the US Department of Agriculture. We have considerable experience in dealing with virtually every type of federal permit and license required for the development and operation of an energy project, as well as a wide range of state, regional and local permits and licenses. We also have represented traditional and alternative energy project developers before the Federal Energy Regulatory Commission (FERC), Regional Electric Transmission Organizations, state public utility commissions, and executive, legislative and administrative agencies.

We represent clients in structuring and negotiating the terms of the capitalization of energy projects, including equity agreements among project sponsors and agreements for senior, subordinated and mezzanine debt. Our legal team assists clients in identifying and managing risks in project financing. We help clients negotiate and draft project documents to create financeable projects. We are skilled at efficiently documenting and closing transactions.

Our Energy and Cleantech team is skilled in handling all aspects of project development and operation for complex energy projects, from financing, environmental permitting, and the preparation of engineering, procurement and construction contracts to the negotiation of agreements related to electrical interconnection, operation and maintenance, fuel supply and power sales. We have addressed numerous issues for a wide variety of traditional and alternative energy facilities, including cogeneration, hydroelectric, biomass, landfill gas to energy, solar, wave energy and wind power.

Our lawyers have assisted clients in applying for and obtaining government grants, loans, and loan guarantees in the energy area, including those issued by the US Department of Energy and the US Department of Agriculture. We have considerable experience in dealing with virtually every type of federal permit and license required for the development and operation of an energy project, as well as a wide range of state, regional and local permits and licenses. We also have represented traditional and alternative energy project developers before the Federal Energy Regulatory Commission (FERC), Regional Electric Transmission Organizations, state public utility commissions, and executive, legislative and administrative agencies.

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Class, Jamie N.

Jamie N. Class

Special Counsel

+1 617 526 6871 (t)

jamie.class@wilmerhale.com

Development Sector Experience

Examples of our recent work in the development sector include:

  • Representation of Range Fuels in connection with equipment procurement and construction contracting for the nation's first commercial-scale cellulosic ethanol production facility
  • Advising Cape Wind Associates, LLC on regulatory, environmental permitting and policy issues associated with the development of the nation’s first proposed offshore wind energy generation facility
  • Advising American Renewables in connection with the financing and development of a 100 MW biomass to energy plant in Texas, including the negotiation of major equipment procurement contracts and an EPC "wrap” agreement, as well as the use of tax credits and other incentive mechanisms in connection with financing
  • Assisting Pioneer Valley Energy Center on real estate, regulatory, legislative and project financing for a 400 MW combined cycle plant in Massachusetts
  • Assisting American Superconductor in the formation of a project development affiliate to participate in the development of electric infrastructure projects (including the Tres Amigas Project)
  • Assisting Weaver's Cove Energy,LLC on environmental permitting, real estate and policy issues associated with the development of an on-shore LNG Marine Import Terminal
  • Representing Khosla Ventures in the negotiation of an operating and management agreement for a proposed synthetic fuel production plant
  • Representing SUEZ LNG NA, LLC in the negotiation, litigation and renegotiation of a 20-year natural gas supply agreement with a 1600-MW electric generation plant located in metropolitan Boston
  • Advising Neptune LNG, LLC in the negotiation of a contractual framework agreement governing the design, construction and operation of a deepwater LNG Marine Import Terminal
  • Assisting the Massachusetts Technology Collaborative on several project development issues, including:
  • The purchase of wind turbines from Vestas for the development of community-based wind projects
  • The negotiation of a short-term project development financing agreement with the Town of Hull in connection with the development of a proposed offshore wind generation project
  • The development of legal frameworks agreements (i.e., a third party PPA, RFP and Site Lease/License Agreement) for the MTC's Commonwealth Solar Initiative and Community Wind Collaborative project development and financing programs
  • Representing a consortium of hospitals and research institutions in contracting for the supply of steam, chilled water and electricity, including fuel hedging and related supply arrangements
  • Assisting a pharmaceutical company in developing two on-site cogeneration plants

Project Finance Experience

Examples of our work in the project finance area include:

  • Representing 1366 Technologies, Inc. in closing a Department of Energy loan guarantee for the development of a multicrystalline wafer manufacturing project aimed at reducing the cost of solar power. The project is projected to produce approximately 700 to 1,000 megawatts (MW) of silicon-based wafers annually
  • Representing INIMA USA in securing regulatory approvals and $32 million financing from Banco Santander for the construction of a wholesale water desalination plant in Massachusetts
  • Representing A123 Systems, Inc. in obtaining a $233 million loan from the United States Department of Energy under its Advanced Technology Vehicle Manufacturing program to finance the construction of Michigan facilities that will manufacture advanced technology lithium-ion battery packs
  • Representing A123 Systems, Inc. in the negotiation of $249 million in grant funding from the Department of Energy, and on other regulatory issues regarding "grid-based energy storage” arising at the Federal Regulatory Commission and the Regional Electric Transmission Organizations
  • Representing a developer in connection with a tax advantaged sale leaseback financing facility to be provided by Key Equipment Finance in the amount of up to $75 million to finance solar photovoltaic projects, and in the negotiation of the related site lease, power purchase agreements and project documents
  • Representing A123 Systems, Inc. in closing an incentive loan from the Commonwealth of Massachusetts to finance the build out of headquarters and a research and development facility
  • Representing investment funds of Energy Management Inc. and other investors in their investments in the financing of a 100-megawatt biomass power generation facility in Gainesville, Florida
  • Representing a project developer in structuring a strategic partnership to raise equity capital and in negotiating and closing a $250 million project financing of a 169-megawatt gas-fired combined cycle power plant made available by institutional senior lenders
  • Counseling a project sponsor in obtaining approximately $250 million from institutional lenders to finance the construction of a 265-megawatt natural gas-fired power plant in Rhode Island
  • Representing a project developer in securing senior and subordinated debt in excess of $75 million to develop a 68 megawatt power plant in Dartmouth, Massachusetts
  • Representing Casella Waste Systems, Inc. in connection with the issuance of $25 million of solid waste revenue bonds by the Finance Authority of Maine to finance Casella’s development and construction of solid waste disposal facilities
  • Representing a project sponsor in connection with project financing of Fitchburg Waste Paper Recycling Project involving $191 million of Massachusetts Industrial Finance Agency senior and subordinated revenue bonds
  • Serving as counsel to Ameresco in the development and project financing by Bayerische Landesbank of numerous landfill gas-to-energy projects in NY, WI, GA, MA and CA
  • Advising Rumford (ME) Power in developing a 265-megawatt gas-fired electric power generating facility and securing $250 million in project financing from Bayerische, Hypo-und Vereinsbank, AG, as Agent and other lenders
  • Representing Pawtucket Power in negotiating and closing approximately $100 million of senior secured debt from Toronto Dominion (Texas), Inc., as agent and other lenders to finance a 64-megawatt dual-fuel combined cycle generating facility in Rhode Island
  • Representing a project sponsor in connection with 300 Megawatt energy plant financing for Bellingham (MA) Power in the approximate amount of $300 million
  • Representing a project developer in connection with securing the project financing of a 300 megawatt power project in Sayreville, New Jersey in the amount of approximately $300 million
  • Representing Pepperell Power Associates Limited Partnership in securing approximately $41 million from The Prudential Insurance Company of America to finance the construction of a 38 Megawatt gas-fired cogeneration facility