Energy Assets and Transactions

Drafted a tug services agreement and associated documents on behalf of an LNG producer and terminal operator in support of a request for proposal of tug services at an LNG facility in Mexico. Also drafted the amended and restated tug services agreement and eight ancillary agreements. Advised on a transaction structure to bridge the term of the initial tug services agreement with the required term of the amended and restated tug services agreement to account for delays in commercial operation following the conversion from an import facility to an export facility; coordinated with internal counsel to account for Mexico-specific regulations.

Assisted a Japanese multinational investment holding company in evaluating its relationship with a data center builder. Reviewed and analyzed regulatory, interconnection, and power purchase issues; evaluated sites selected. Worked with the client to establish a strategy for expansion at sites, including potential co-location of generation. Advised on the then-current energy regulatory landscape, and identified potential risks given then-upcoming Texas legislative session. Analyzed and negotiated Energy Service, Qualified Scheduling Entity, Lease, and Shared Facilities agreements. Addressed legality of arrangements under PUCT and ERCOT requirements. Provided guidance regarding potential pitfalls of the transaction.

Represented a developer of energy storage and renewable hybrid projects with respect to its construction loan and tax equity financing of a 200 MW battery energy storage facility and associated infrastructure in Fort Bend County, Texas. Provided energy regulatory and interconnection advice. Identified and tracked all energy regulatory permits required for the construction and operation of the project. Negotiated energy regulatory provisions in transaction documents.

Assisted a renewable energy company in connection with its proposed disposition, through a competitive bidding procedure, of 100% ownership interests in an SPV developing a 28.8 MWp wind plant in Southern Italy. Assisted on Q&A during the due diligence activities carried out by the potential buyers. Drafted and negotiated the share purchase agreement with the potential buyers selected by the client in addition to other transaction documents.

Represented a utilities company in the separation of ownership of two adjacent gas-fired power plants in York County, Pennsylvania. Handled the real estate aspects of the transaction in preparation for the disposition of one of the plants.

Represented a banking and financial services company in the tax equity financing of a 180 MW solar project in Missouri by a renewable power developer. Served as regulatory, environmental and permitting, tax, and real estate counsel to the tax equity investor.

Advised a Seoul, Korea-based construction company and civil engineering service provider on the sale of its water treatment subsidiary to a UAE state-owned energy and water company. The transaction is valued at approximately US$1.2 billion.

Represented the buyer in the purchase of US$10 million of Section 45Z (Clean Fuel Production) tax credits transferred under IRC § 6418 and produced at an ethanol facility in North Dakota. The credits were acquired in two tranches: US$5 million funded at the closing, and US$5 million to be transferred in upon the seller's filing of its tax return. The deal featured tax credit insurance to address customary risks related to eligibility, disallowance, and transfer mechanics, and included market standard covenants and closing deliverables for a § 6418 transfer. Our team led structuring, documentation, diligence on production and credit eligibility and closing execution.

Advised a bank holding company on the purchase and transfer of a mixed portfolio of federal tax credits under the Inflation Reduction Act’s transferability regime (IRC § 6418). The portfolio comprised (i) Section 45 production tax credits (PTCs) arising from two solar energy production facilities located in Arizona and Mississippi (aggregate 300 MWac), and (ii) Section 48 investment tax credits (ITCs) produced by five solar energy production facilities in Arkansas, Mississippi, Illinois, and Texas (aggregate 750 MWac), together with credits associated with a battery energy storage system (BESS) in California (150 MWac). Our team led the negotiation of the transfer documentation, coordinated diligence across multistate project assets and the credit eligibility, and structured a single closing to acquire the approximately US$11.9 million of credits in August 2025.

Represented an independent power producer in the sale of an LLC owning a natural gas-fired generation repower project located in Colorado. The transaction involved assets subject to Section 203 of the Federal Power Act, and our team provided regulatory analysis in connection with the contemplated transaction. Served as primary transactional counsel, leading the drafting, negotiation, and execution of the definitive agreements and closing deliverables.

Negotiated an optimised capacity swap (term sheet and full form agreement) for an international oil company relating to the dispatch of optimised capacity for a BESS developed at the Melbourne Renewable Energy Hub. This innovative transaction involved the buyer having oversight of the dispatch strategy for the reference BESS, operated by the seller. Negotiated a supporting performance guarantee from a Hong Kong-domiciled parent.