The Hunton & Williams energy practice dates back to the beginning of the firm in 1901 and the firm’s experience in the area of renewable energy and clean power started decades before the current global focus on renewable and clean sources of energy. Since these early beginnings, our renewable energy and clean power practice has grown and evolved to meet the changing needs of our clients in this dynamic sector of the energy market.
Examples of our renewable energy and clean power experience in recent years, include:
- We regularly represent several of the leading tax equity investors in the wind power space. In 2014, Hunton & Williams lawyers closed transactions involving more than $1.9 billion in equity investments at twenty-three (23) US wind farms (accounting for over 2.6 gigawatts of wind generation).
- Our lawyers have represented several financial institutions making tax equity investments into commercial and residential solar funds. Recent transactions in this area have included partnership-flip and inverted lease financing structures with essentially all of the major US solar developers.
- With respect to utility-scale solar power projects, our lawyers have represented investors, lenders, ratings agencies and developers in a variety of transaction types in the United States and abroad. Recent transactions have included representing a major financial institution financing (via a sale-leaseback structure) a portfolio of ground-mounted projects in Georgia, representing an investment bank acquiring a ground-mounted project in New Jersey and rights for a related portfolio of projects; and representing a rating agency with respect to the debt financing for a 173 megawatt facility being developed in California.
- Our environmental practitioners have assisted many Fortune 100 companies with a full menu of needs – from project siting considerations, to permitting and compliance requirements, to issues that arise from impacts to threatened or endangered species.
- Our energy tax credit lawyers have drafted industry comments on key legislation and administrative guidance, including the Section 1603 Treasury Grant program of the US Treasury Department, and have worked with the Internal Revenue Service to obtain clarification on the application of Section 1603 to solar property and to help clients ensure compliance with Section 48 investment tax credits (ITC) requirements.
- Our lawyers acted as project counsel to a developer in connection with the structuring, development and financing (including Department of Energy (DOE) loan guaranty and export credit agency) for a new nuclear power project. The proposed 1,600 MW nuclear fueled generating facility was one of the finalists for $18.5 billion in DOE loan guaranty funding.
- We represented the developer of a nuclear fuel cycle facility with respect to the structuring, development and financing matters (including with respect to DOE loan guaranty and export credit agency matters).
- We represented the Government of Uganda on the development, construction and financing of the $872 million Bujagali hydroelectric facility on the River Nile.
- Our lawyers represent developers, sponsors and investors in connection with numerous transactions involving the acquisition, placement and sell-down of reduced emission, refined coal production facilities qualifying for Section 45 tax credits. Our energy tax credit lawyers also worked with the Treasury Department and Internal Revenue Service to obtain published guidance on the Section 45 refined coal tax credit.
- Our climate change team regularly advises on renewable energy certificate (REC) trading and ownership.
- Our government relations professionals have provided assistance to several Fortune 100 clients to help actively prepare for various possible policy outcomes that will affect their goals and business objectives.
- We represented DTE Energy Services (DTEES) in acquiring a significant interest in the Mt. Poso Cogeneration Company (a coal fired power plant being converted to a biomass power facility) and related financing and project contract matters.
- Our lawyers represent suppliers of wood pellets in both the development of production facilities and supply of fuel to biomass power facilities globally.
- Members of the renewable energy and clean power practice represented a technology provider and EPC contractor consortium in negotiating project and fuel supply agreements for a new nuclear power project.
- Several firm partners are active in the Solar Energy Industries Association (SEIA), including serving on SEIA’s Board of Directors and as Chairman of SEIA’s Tax Committee. Additionally, based on our efforts in the solar power space, Hunton & Williams received SEIA’s 2011 Service Provider of the Year award.
- We represented Mitsubishi Corporation in connection with the financing, development and acquisition of a 34% equity interest in Mareña Renovables, a $1 billion 396 MW wind power generation project located on the Isthmus of Tehuantepec, Oaxaca, Mexico, expected to become Latin America’s largest single stage wind farm project. Awarded 2012 ‘Americas Wind Deal of the Year’ by Project Finance International (PFI) and ‘Latin America Wind Deal of the Year’ by Project Finance magazine (PF).
- Members of the Renewable Energy and Clean Power practice represented a technology provider and EPC contractor consortium in negotiating project and fuel supply agreements for a new nuclear power project.