Bracewell represented RES in the negotiation and execution of a first-of-its-kind fixed-price, habitat restoration, maintenance and liability transfer agreement (HRMLTA) with Klamath River Renewal Corporation (KRRC). Execution of the agreement reaches a key milestone in the Ecological Restoration Plan for the largest dam removal project in the United States — the lower Klamath River Dams.
RES is a nationally recognized leader in environmental restoration and water quality improvement projects and a member of a leading global investment firm’s (KKR) green solutions platform. The agreement is part of a larger arrangement among PacifiCorp, Kiewit Infrastructure and the states of California and Oregon. The total funding for the overall projects is $450 million, which aims to remove four hydroelectric dams.
“RES is thrilled to reach this milestone with KRRC, and we look forward delivering our ecological knowledge and experience to restoring the natural vitality of the Klamath River,” said Sam Burley, RES general counsel. “For a significant infrastructure removal project like this, we were pleased to partner with Bracewell’s environmental and transactional team to put this unique arrangement in place.”
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Bracewell lawyers involved in the transaction included:
Partners: Jason B. Hutt and Hans P. Dyke
Associates: Joshua Robichaud