According to Chambers USA (2016), Bracewell’s power practice features some of the “premier lawyers in the utility M&A world,” who have represented clients in some of the largest utility transactions in recent years. These include 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. In addition, Bracewell regularly advises numerous clients about environmental and regulatory issues facing utilities.
Recent Notable Matters
American Electric Power Company — through six of its utility operating companies, negotiation and drafting of 20-year power purchase agreements (PPAs) with third party wind power project developers for more than 1,300 MW of renewable wind energy generated in West Virginia, Illinois, Indiana, Michigan, Kentucky, Louisiana, Oklahoma and Texas
Duke Energy Corporation — $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; Platts Global Energy Awards, 2015 Strategic Deal of the Year
Entergy Corporation — $459 million acquisition of the Hinds Energy Facility, a 450 MW natural-gas fired power generation facility, and the Hot Spring Energy Facility, a 620 MW natural-gas fired power generation facility, from subsidiaries of KGen Power Corporation
Entergy Corporation — $948 million agreement to purchase the Union Power Station from Union Power Partners, L.P.
Entergy Louisiana LLC — 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
Great Plains Energy Inc. — 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
Great Plains Energy Incorporated — 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
Hydro One Limited — $5.3 billion proposed acquisition of Avista Corporation in an all-cash transaction (now terminated)
Integrys Energy Group, Inc. — $298 million sale of 100 percent of the stock of Upper Peninsula Power Company to Balfour Beatty Infrastructure Partners L.P.
La Caisse de depot et placement du Quebec — investment of up to approximately $593 million in AES US Investments, Inc. and IPALCO Enterprises, Inc., subsidiaries of The AES Corporation and parent companies of Indianapolis Power & Light Company, for an aggregate direct and indirect interest in IPALCO of up to 30 percent
Rochester Gas and Electric Corporation — asset sale of the 67 MW Allegany generation facility in the New York Independent System Operator grid to Alliance Energy, New York LLC and related Section 203 approvals
Tenaska Inc. — development, project financing, offtake and purchase agreements with Brownsville Public Utilities Board for construction of a 800 MW natural gas-fueled combined cycle electric generation station in Brownsville, Texas