Danielle Varnell works extensively on M&A and joint venture transactions in the energy and infrastructure sectors, including the sale and purchase of renewable, fossil fuel and nuclear generation assets. She has advised on some of the largest wind and solar transactions in the world, as well as on transactions involving innovative clean technologies such as carbon capture and sequestration. Over the course of her career, Danielle has advised strategic and financial buyers and sellers on the purchase, sale or development of more than 8,000 MW of wind generation, 6,000 MW of solar generation and 4,000 MW of nuclear generation assets, with an aggregate value over $40 billion.
Danielle also has extensive experience on energy and infrastructure projects, including the negotiation and drafting of build transfer agreements, EPC contracts, O&M agreements, construction management agreements, project administration agreements, wind turbine supply agreements and REC purchase agreements, as well as numerous other procurement and project development agreements. Danielle also advises clients on significant electric transmission projects.
She speaks and writes extensively on issues of import in the energy sector, including both onshore and offshore wind, financing solutions for renewable energy projects and solar and storage development.
Recent Notable Matters
NRG Energy Inc. — $760 million sale to an affiliate of ArcLight Capital Partners, LLC of its ownership interest in eight fossil generating facilities from its East and West regions totaling approximately 4,850 MWs
Competitive Power Ventures Inc. — in the sale of its majority ownership stake in CPV’s largest project to-date, the 1250 MW CPV Three Rivers Energy Center project in Grundy County, Illinois, to affiliates of Osaka Gas USA, Axium Infrastructure and Harrison Street, which sale closed contemporaneously with the financing of the project, representing over $1.3 billion in private investment. This deal was awarded 2020 “US Power Deal of the Year” by Project Finance International.
Invenergy LLC — build transfer sale, subject to state regulatory approvals, of the Fairbanks solar project, a 250 MW solar energy generating facility to be developed and constructed by Invenergy in Sullivan County, Indiana, to a subsidiary of Northern Indiana Public Service Company, LLC
NRG Energy, Inc. — sale to a subsidiary of Clearway Energy Inc. of its remaining 35 percent ownership interest in the Agua Caliente solar project in Dateland, Arizona
Invenergy LLC — build-transfer sale of a wind energy generating facility in Atchison County, Missouri, with a total capacity of up to 300 MW to Ameren Missouri
Invenergy LLC — acquisition of a multistate wind and solar development portfolio*
Invenergy LLC — $4.5 billion build-transfer sale of the 2000 MW Wind Catcher wind energy generating facility to be developed and constructed in Cimarron and Texas Counties to Oklahoma to Public Service Company and Southwestern Electric Power Company, once operational, will be the largest wind farm in North America and the second largest in the world*
Leading renewable energy developer — disposition of a 90% interest in two operating wind plants in Nebraska*
NRG Energy, Inc. — $1.375 billion sale of NRG’s ownership in NRG Yield and NRG’s renewables platform to Global Infrastructure Partners (GIP) *
Leading wind developer — equity investment in two utility scale wind projects totaling approximately 300 MW for the purpose of repowering such projects using safe harbored turbines*
Leading Developer — build-transfer transaction for the sale of an up to 300 MW solar project to a consortium of utilities*
NRG Energy, Inc — acquisition from SunPower Corporation, Systems of the 250 MW California Valley Solar Ranch photovoltaic solar project, which closed in connection with a $1.3 billion loan from the U.S. Department of Energy’s federal loan guaranty program*
Starbucks — equity investment into a development stage solar project in Robeson, North Carolina*
NRG Residential Solar Solutions — $200 million financing of its residential rooftop solar platform*
Competitive Power Ventures — equity sell down of its 25% interest in the CPV Towantic Energy Center, an 805 MW combined cycle plant in Oxford, Connecticut to Osaka Gas USA*
OG&E Energy — acquisition of a 146 MW combined cycle generation facility*
NRG Energy, Inc. — lead M&A and financing counsel for its Petra Nova carbon capture and enhanced oil recovery project located southwest of Houston, Texas in which JX Nippon acquired a 50% equity interest in the Petra Nova project. This project was awarded Power Magazine’s 2017 Project of the Year award and a $190 million U.S. Department of Energy grant*
OGE Energy Corporation — negotiation of a design, engineering and supply contract to add circulating, dry flue gas desulphurization systems at two approximately 569 gross MW sub-critical coal-fired steam electric generation facilities located in Noble County, Oklahoma*
* Work completed prior to Bracewell