Power

Market-Leading Global Power Team

Bracewell is recognized as having one of the leading global power practices. With one of the largest dedicated energy teams of any law firm, we have deep understanding of the global power markets and the commercial drivers for success. We draw on our experience as a market-leading global energy firm to advise clients on complex transactions, financings and regulatory matters related to conventional power and renewable energy.

We represent a large and diverse group of power sector clients, including privately held and consumer-owned utilities, independent power producers, retail electric businesses, commodity trading houses, investors and lenders. Our conventional power and renewable energy clients include Arroyo Energy, Avangrid, Competitive Power Ventures, Engie, Equinor, Fotowatio Renewable Ventures, Invenergy, NRG Energy, Rockland Capital, Sol Systems, Vistra Energy and Xcel Energy, among others. Many of our recent representations have involved projects that have been recognized as market-leading transactions, including Competitive Power Ventures in the equity investment by an international consortium in the Three Rivers Energy project in Illinois (2020 Power Deal of the Year, PFI Awards); Equinor on the development of its Empire Wind Offshore Wind Farm (2020 Projects Deal of the Year Finalist, IFLR United States Awards); Marubeni Corporation and Aljomaih Energy & Water Company in the financial closing of the Rabigh 300 MW solar photovoltaic IPP in Saudi Arabia (2021 Middle East & Africa ESG Platform Deal of the Year, PFI Awards); and Marubeni and Total Solar on the development and implementation of the Al Kharsaah solar photovoltaic independent power plant in Qatar (Finance Team of the Year Finalist, 2021 Legal Business Awards).

Our highly regarded power regulatory practitioners regularly represent electric transmission and distribution utilities, independent power producers, power marketers and investors in energy companies before various regulatory agencies, including the Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC). We have a deep knowledge and comprehensive experience in all of the various ISOs and RSOs across the United States. As power markets evolve in response to changes in fuel diversity and price formation, we also represent clients in complex multi-party contested proceedings, including disputes regarding compensation for energy infrastructure investments.

We Know Energy^®.

Areas of Focus

Independent Power Producers

We represent a broad array of independent power producers around the world, including sponsors, lenders and developers in conventional and renewable independent power and integrated power projects.

We advise independent power producers on financing, siting and permitting issues for the development of power projects, acquisitions and dispositions of generation unites, and ongoing compliance and enforcement matters for operating facilities.

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Power Trading & Markets

Bracewell is among the leading law firms in standardized and structured transactions involving physical and financial power, gas and other commodities. Our team includes lawyers with in-house experience at commodity trading businesses, as well as experience with federal commodity regulators.

We are particularly known for our work on structured commodity transactions involving the formation, purchase and sale of power trading positions, companies, electricity derivatives and other energy futures strategies. Our lawyers are intimately familiar with agreements promulgated by the International Swaps and Derivatives Association and the North American Energy Standards Board and have significant experience with structured commodity transactions, acquisitions and divestitures involving trading portfolios and compliance with related regulations.

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Regulated Utilities

Market Leader in Power and Utilities Law

According to Chambers USA (2016), our power and utilities lawyers include some of the “premier lawyers in the utility M&A world.” We represent clients in large, complex utility transactions, including acquisitions and dispositions of utilities and interests in utilities, electric generating facilities, and large portfolios of such assets, involving fossil and renewable energy facilities, transmission facilities, and similar “utility-type” properties. We also advise utilities clients on environmental and regulatory issues unique to their business.

We also help power generation and transmission clients achieve a competitive advantage in the deregulated electric power market. Bracewell is one of only a few firms with the experience to handle the complex mix of sophisticated legal, financial, regulatory, and management issues required for global power plant development.

Meet the team

We represent a broad array of independent power producers around the world, including sponsors, lenders and developers in conventional and renewable independent power and integrated power projects.

Meet the team

Market Leader in Power and Utilities Law

Meet the team

Global Recognition for Excellence

Our power practice, including its lawyers, is recognized for excellence in the United States, the United Kingdom and the MENA region by numerous leading publications, including Chambers and Legal 500.

Chambers Global – Africa-wide Projects & Energy; Middle East-wide Projects & Energy; UK Energy Sector (International & Cross-Border); USA Energy Sector (International & Cross-Border); USA Electricity Finance; USA Electricity Regulatory & Litigation; USA Electricity Transactional; USA Projects
Chambers UK – UK-wide Projects
Chambers USA – Nationwide Electricity Regulatory & Litigation; Nationwide Electricity Transactional; Nationwide Projects: Power & Renewables: Transactional
IFLR1000 – UK Project Development: Power; UK Project Finance; US Project Development: Power; US Project Finance
Legal 500 EMEA – UAE Infrastructure and Projects
Legal 500 UK – Emerging Markets; Power
Legal 500 US – Energy Litigation: Conventional Power; Energy Regulation: Conventional Power; Energy: Renewable/Alternative Power; Energy Transactions: Conventional Power
U.S. News – Best Lawyers – National Energy Law (Tier 1); Houston Energy Law (Tier 1); Houston Project Finance Law (Tier 1); New York Energy Law (Tier 1); Washington, DC Energy Law (Tier 1)

The team is well known in the industry…. They are responsive, understand our goals and provide us with swift and effective counsel.

Chambers USA, 2021

Market-Leading Engagements

We represent clients in a range of transactions and financings in the power sector, many of which are the first of their kind.

Alcazar Energy on the 1.8 GW Benban Solar Park in Egypt — 2017 Global MLA Deal of the Year, PFI Awards
Alcoa Power Generating Inc. in the sale of four hydroelectric power plants with an aggregate capacity of 215 MW located on the Yadkin River in North Carolina to an affiliate of Cube Hydro Partners, LLC
AP Energy Holdings Inc and South Field Energy LLC in the $1.3 billion project financing and equity arrangements for the construction of the South Field Energy project, a 1,182 MW combined-cycle natural gas electric generating facility located near Wellsville, Ohio
Arabia One For Clean Energy Investments, a project company formed by Hanwha Engineering & Construction Corporation, Ennera Energy and Arabia Trading and Consulting Company) in the project development and financing of the Arabia One project, one of seven solar photovoltaic projects in Jordan (called the “Seven Sisters”) procured in Round 1 of Jordan’s renewable energy program — 2014 Middle East Renewable Deal of the Year and 2014 Middle East Overall Project of the Year, IJGlobal Middle East
Basalt Infrastructure Partners II LP in the acquisition of Detroit Renewable Energy LLC, an integrated renewable energy system comprised of Detroit Thermal, Detroit Renewable Power and Hamtramck Energy Services
Brookfield Infrastructure Group Corporation in the sale of Cross Sound Cable Company, the owner of a high voltage direct current electric transmission system connecting the New England and New York power grids, to A1A Energy North America LLC, an affiliate of Argo Infrastructure Partners
Competitive Power Ventures in the equity investment by Osaka Gas USA, Axium Infrastructure and Harrison Street in CPV’s gas-fired Three Rivers Energy Center project in Illinois — 2020 US Power Deal of the Year, PFI Awards
Duke Energy Corporation in the $2.8 billion sale of its Midwest merchant generation business to a subsidiary of Dynegy Inc., which includes ownership interests in 11 power plants with a total capacity of approximately 6,100 MW, as well as Duke’s competitive retail electric and gas business — 2015 Strategic Deal of the Year, Platts Global Energy Awards

Eni S.p.A. in its £140 million acquisition of a 20 percent interest in the Dogger Bank (C) 1.2 GW offshore wind farm project from Equinor and SSE
Eni S.p.A. in its £405 million acquisition of 20 percent interest in the Dogger Bank (A and B) 2.4 GW offshore wind farm project from Equinor and SSE
Equinor on the 816 MW Empire Wind Offshore Wind Farm, the first large-scale offshore wind lease in New York State — 2020 Projects Deal of the Year Finalist, IFLR United States Awards)
Entergy Louisiana LLC in the build-and-sale agreement to acquire the Washington Parish Energy Center, a 361 MW natural gas-fueled electrical generation plant in Bogalusa, Louisiana, from Washington Parish Energy Center One, LLC, a wholly owned subsidiary of Calpine Corporation
First Reserve Corporation in a long-term hedge arrangement to enable the acquisition and financing of the 298 MW Kingfisher Wind Project located in Oklahoma — 2015 Commodities Deal of the Year, Commodity Business Awards; 2015 Financial Deal of the Year, Platts Global Energy Awards; 2016 Deal of the Year, Energy Risk Awards
Fotowatio Renewable Ventures in the development of the 99MW/198MWh Clay Tye Project – upon completion, this will be the largest battery energy storage of its kind in the UK
Fotowatio Renewable Ventures in the development of a 34 MW/68 MwH utility-scale battery storage project, to be constructed and operated by Tesla in the UK
Fotowatio Renewable Ventures in the development of the 55 MW Mets Masrik power plant — the first utility-scale solar plant in Armenia
Freeport Power Limited in an amended and restated offtake agreement for a combined cycle power generation facility located at Dow Chemical Company’s Oyster Creek facility
Great Plains Energy Inc. in a $8.017 billion unsecured bridge loan to bridge the cash portion of the consideration for the mergers with Westar Energy Incorporated, as borrower
Great Plains Energy Incorporated in a revised stock-for-stock merger of equals transaction with Westar Energy, Inc., creating a company with a combined equity value of approximately $14 billion, and with nearly 13,000 MW of generation capacity and more than 51,000 miles of distribution lines
Harmony HB Limited in the first-of-a-kind financing for the Holes Bay Battery Energy Storage Project in Dorset, UK
Hydro One Limited in its $5.3 billion proposed acquisition of Avista Corporation in an all-cash transaction (now terminated)
Integrys Energy Group, Inc. in its $298 million sale of 100 percent of the stock of Upper Peninsula Power Company to Balfour Beatty Infrastructure Partners L.P.
InterGen in connection with gas supply arrangements for a 1,100 MW power generation facility located in Mexico
Invenergy LLC in the build transfer sale of the 25 MW Fairbanks solar project
Invenergy LLC in the build transfer sale of a wind generating facility in Atchison, Missouri, with a total capacity of up to 300 MW, to Ameren, Missouri
Invenergy in connection with the disposition of its remaining 20 percent equity interest in each of the 156 MW Trent Mesa Wind project and the 170 MW Desert Sky Wind project to its joint venture partner, CSW Energy, Inc., a subsidiary of American Electric Power
Invenergy in its $4.5 billion build-transfer sale of the 2,000 MW Wind Catcher wind energy generating facility – the second-largest wind farm in the world
Marubeni Corporation and Aljomaih Energy & Water Company in the financial closing of the Rabigh 300 MW solar photovoltaic IPP in Saudi Arabia — Middle East & Africa ESG Platform Deal of the Year, 2021 PFI Awards; Project Finance Deal of the Year Finalist, 2021 IFLR Middle East Awards
Marubeni and Total Solar in the development and implementation of the 800.15 MW Al Kharsaah solar photovoltaic independent power project, the first utility-scale renewables IPP in Qatar — Project Finance Deal of the Year, 2021 IFLR Middle East Awards
NRG Energy, Inc. in the sale to a subsidiary of Clearwater Energy Inc. of its remaining 35 percent ownership interest in the Agua Caliente solar project in Dateland, Arizona
NRG Energy, Inc. in an agreement with Unilever, a leading consumer goods company, for NRG to sell 80 percent of the power from NRG’s Langford Wind Farm, in order to support Unilever’s pledge to move to 100 percent clean power use by 2020
Rockland Capital, LLC in the acquisition of 100 percent of the equity interests in Michigan Power LP, LLC, which owns a 125 MW natural gas-fired combined cycle cogeneration facility located in Ludington, Michigan, from affiliates of ArcLight Capital Partners, LLC
Rockland Capital, LLC in the $180 million acquisition of the 625 MW Lee Energy Facility in Dixon, Illinois from Dynegy Inc.
Rockland Power Partners II, LP in the sale of a portfolio of more than 1,000 MW of peaking generation units in the PJM Interconnection to Lincoln Power, L.L.C., a subsidiary of Carlyle Power Partners II, L.P.
Sol Systems in connection with a minority investment from KKR to scale Sol Systems’ Impact + Infrastructure approach, as well as a commitment of up to $1 billion to acquire shovel-ready projects
Sol Systems in a joint venture with Microsoft to develop over 500 MW of solar projects in under-resourced US communities
Southern Company in its $469 million acquisition of a 90.1 percent stake in the 257 MW Wake Wind project
Storegga Geotechnologies on its acquisition of Pale Blue Dot Energy, lead developer of one of the first carbon capture and storage projects in the UK
Vestas Wind Systems on the 300 MW Lake Turkana wind projects – the largest single private investment in Kenyan history and one of the largest onshore wind farms in Africa

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Power

Market-Leading Global Power Team

Areas of Focus

Independent Power Producers

Power Trading & Markets

Regulated Utilities

Market Leader in Power and Utilities Law

Market Leader in Power and Utilities Law

Global Recognition for Excellence

Market-Leading Engagements

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