Martha Kammoun, a partner in our New York office, advises domestic and international private equity and infrastructure funds, as well as traditional corporate sponsors and financial institutions, on mergers and acquisitions, joint ventures, leveraged finance, and project finance matters, with an emphasis on energy investments.
She has extensive experience advising on conventional and renewable power projects and transmission investments, and is focused on all facets of the energy transition across a wide spectrum of transactions spanning offshore wind projects, hydrogen applications, energy storage, and carbon capture, utilization and sequestration.
As former co-general counsel of Starwood Energy, a US-based energy private equity fund, and as an advisor to a well-hedged client base, acting for borrowers and lenders, and buyers and sellers alike, Martha has developed a perspective and skillset allowing her to advise her clients through the entire life cycle of an investment: structuring and governance matters, strategic asset and portfolio optimization, refinancing, stakeholder management, and investment realization.
Recent Notable Matters
Equinor — $1.1 billion sale of a 50 percent interest in two US offshore wind development projects to BP, including formation of a partnership to develop and operate the Empire Wind project offshore New York and Beacon Wind project offshore Massachusetts, which together could generate up to 4.4 GW
Sponsor — $750,000,000 secured Term Loan B refinancing of two Term Loan A facilities led by Morgan Stanley Senior Funding, Inc. and secured by a portfolio of combined-cycle power plants located in Pennsylvania and Massachusetts *
Private equity purchaser — acquisition of a 1,320 MW generating facility in Fairless Hills, Pennsylvania, and a 510 MW generating facility in Providence, Rhode Island from Dominion Generation, Inc. together with the related $925,000,000 Term Loan B financing led by Credit Suisse AG*
Private equity purchaser — acquisition of a 309 MW natural gas-fired combined cycle power plant in Dover, Delaware and a 503 MW natural gas and fuel oil- fired simple cycle power plant in Christiana, Wisconsin from Calpine Holdings, LLC and Calpine Northbrook Project Holdings, LLC together with the related $250,000,000 incremental loan financing
Purchaser — acquisition of midstream facilities from American Midstream LLC, an ArcLight entity, consisting of pipelines, gathering systems, compression assets, and processing facilities in Texas with contracted revenues under a construction and field gathering agreement with Penn Virginia Oil & Gas, LP together with the related Term Loan A financing led by Wells Fargo Bank, N.A.*
SteelRiver Infrastructure Fund North America LP — leveraged acquisition of the natural gas distribution business of EQT Corporation*
Macquarie Infrastructure Company LLC — subsidiaries’ refinancing of credit facilities entered into in connection with its acquisition of Hawaii’s only franchised full-service gas company*
Private Equity Sponsor — buyout of the Morgantown Plant power purchase agreement from its offtaker utility MonPower with the intent of partially shutting down the plant and potentially developing a renewable power project on its premises*
Sponsor — development, construction and sale of Trishe Wind Ohio, a 105 MW wind generation project located in Paulding County, Ohio*
Sponsor — broad range of development, construction, financing and operational matters relating to a portfolio of wind energy power plants including offtake matters, restructurings, construction and tax equity financing, energy management, operations and public relations matters*
Various French, Italian, South African and US sponsors and lenders — South Africa’s independent procurement program for 3,725 MW of electricity to be generated by renewable energy sources*
Morgan Stanley — as lead arranger, structuring agent and lender in connection with the construction financing and back leverage financing for a 106.5 MW wind generation facility in Glacier and Toole Counties, Montana*
Large international financial institution — as tax equity provider in connection with the financing of a 60 MW wind-powered generation facility located in Richardson County, Nebraska*
Large international financial institution — as tax equity provider in connection with the financing of the 34.5 MW wind-powered generation facility located in Madison and Oneida Counties, New York*
Private equity firm — acquisition of five solar photovoltaic power plants in Massachusetts*
Private equity firm — acquisition of two solar photovoltaic power plants in Puerto Rico*
Private equity firm — sale of the Hudson Transmission Line, a 660 MW high-voltage direct current electric transmission cable connecting New Jersey and New York City and developed jointly with ARES-EIF*
Sponsor — development of the Delaney Colorado River Ten West Link project, a 500 kilovolt transmission line traversing approximately 114 miles between Southeast California and Southwest Arizona*
Equity Sponsor — Joint Equity Financing and Construction Financing of approximately $575,000,000 for the development of a world-scale hydrogen and nitrogen based ammonia plant with nameplate capacity of 3,600 metric tons of ammonia per day to be located in Texas City, Texas*
Real asset-related private equity fund — fund formation matters and structuring and implementing co-investment transactions and subscription secured revolving credit facilities*
Macquarie Infrastructure Company LLC — refinancing of the credit facilities of its subsidiary, the largest fixed based operations servicer in the United States operating at 62 airports*
First National Bank — project financing of the Four Seasons Hotel in Damascus*
Argo Group — as borrower in connection with its secured revolving working capital credit facility and letter of credit facility*
SteelRiver Infrastructure Fund North America LP — leveraged acquisition of a leading operator of short line and regional railroads in 13 states of he United States*
Royal Bank of Scotland — acquisition financing of water and wastewater treatment facilities located in California*
* Work completed prior to Bracewell
Publications and Speeches
"The Future of Carbon Capture, Use and Storage Projects: Tax Credits, Measurement Standards and Transaction Structures," co-hosted with Gaffney Cline, June 2020.