Power

Latham’s in-depth knowledge of the power industry comes from decades of advising the sector’s leading developers, sponsors, financing entities, governments and export credit agencies. The firm’s in-depth knowledge of the sector allows it to give pragmatic advice to clients that are in all stages of their business cycle.

Serving All Aspects of the International Power Sector

Latham’s lawyers harness the firm’s expertise in finance, M&A and restructuring, energy regulation, environmental compliance, litigation and tax to provide comprehensive legal counsel to power industry leaders. Global companies benefit from the firm’s ability to quickly assemble collaborative multi-office and multidisciplinary teams that know the intricate workings of the power industry and government regulation.

Clients of the Power Practice include:

• Commercial energy consumers
• Electric generating, transmission and distribution utilities
• Export credit agencies
• Financial institutions
• Government institutions
• Independent power producers
• Power traders
• Private equity and venture capital investors
• Renewable energy companies

Latham has been involved in major transactions and controversy proceedings related to:

• Engineering, Procurement, and Construction
• New power-related technologies
• Electric generation
• Power marketing and trading
• Power transmission and distribution
• Wholesale or retail power sales and purchases

The firm’s industry experience extends from fossil fired power generation (coal, gas, oil), renewable power generation (wind, solar, geothermal, hydro, biomass), nuclear power generation and other electric power technologies (coal gasification, carbon capture technologies, compressed air energy storage).

Transactions

• Represented the sponsor and borrower in LSP Park Generating’s US$560 million project debt refinancing in connection with the Riverside Power Plant, a 978-MW natural gas simple-cycle generating plant in Zelda, Kentucky, and the University Park North and South Power Plants; a combined 910-MW natural gas-fired simple-cycle generating plant in University Park, Illinois
• Represented SunEdison, Inc. in its US$900 million convertible senior notes offering
• Represented the underwriters in connection with TerraForm Global’s US$675 million initial public offering

Transmission Area

• Represented Wind Energy Transmission Texas, LLC in its US$680 million project debt refinancing in connection with the Wind Energy Transmission Lines, a 345-kV transmission lines project located in Texas
• Represented the lender in US$280 million term loan facility in connection with TerraForm AP Acquisition Holdings' acquisition of Atlantic Power Transmission, Inc., an investment holding company of Atlantic Power Corporation, an electric power producer
• Represented the underwriters and arrangers in connection with the US$800 million bank and bond offering for the construction of the TrAlLCo Transmission Line in West Virginia

Engineering, Procurement and Construction Contracts

• Representation of Foster Wheeler in its acquisition of MDM Engineering Group, a metallurgical engineering company
• Represented a Spanish engineering and construction company in the construction of a combined-cycle heat and electricity generating plant in Russia to be owned by OGK-5
• Represented Summit Texas Clean Energy, LLC, in the development of the Texas Clean Energy Project

Prominent M&A Deals

• Represented Iberdrola USA in its US$2.9 billion acquisition of UIL Holdings, an energy delivery company, to create Avangrid, a diversified power and utility company
• Represented Siemens AG in its US$7.6 billion acquisition of Dresser-Rand Group Inc., suppliers of custom-engineered rotating equipment solutions for the energy industry
• Represented EquiPower Resources Corp. in its US$3.4 billion sale of all the equity interests of EquiPower Resources Corp. and Brayton Point Holdings, owners and operators of power plants, to Dynegy