Ben Davidson, a managing associate in the Washington, D.C., office, is a member of Orrick's Energy and Infrastructure Group.
His practice focuses on advising developers, sponsors, utilities, electric cooperatives, federal and public power agencies and other energy sector participants in a variety of corporate and finance transactions, including M&A, project and tax equity financings, capital markets transactions and other securities offerings.
Recent representative transactions include advising on the following:
- a public power agency in a Department of Energy (DOE) loan guarantee commitment of a US$1 billion+ loan facility to develop and construct two new nuclear generating units;
- a government agency in two lease-purchase transactions for two gas-fired combined cycle facilities that included a total of US$1.26 billion in exempt capital markets bond offerings and $140 million in private placements to institutional investors;
- two electric distribution cooperatives in a US$320 million acquisition of an investor-owned utility's electric distribution assets and service territory;
- a sponsor in a US $100 million master sale-leaseback tax-equity financing facility for distributed solar generating facilities across California;
- a sponsor in approximately US$70 million mezzanine loans for the development and construction of a portfolio of utility scale solar facilities;
- sponsors in arranging equity investment funds for the purchase and financing of portfolios of residential solar installations;
- an automotive company in a US$528 million loan facility guaranteed and arranged by the DOE to develop next-generation electric vehicles and manufacturing facilities;
- two generation and transmission cooperatives in respective US$400 million and US$350 million private placements of debt securities to institutional investors;
- a multinational chemicals and electronics company in the negotiation of a US$150 million DOE grant to fund the construction of a car battery manufacturing facility; and
- numerous borrowers in secured and unsecured credit facilities.
Mr. Davidson is the author of several articles focusing on the financing of energy projects, including investor participation and regulation.