Mr. Sherman has more than 25 years experience representing energy and infrastructure project developers, contractors and investors on energy and infrastructure projects. He is named by Euromoney as one of the "World's Leading Project Finance Lawyers," and is highlighted as a "Leading Project Finance Attorney" in The Legal 500 Guide to the US Legal Profession.
In recent years, Mr. Sherman has represented many of the world's largest solar, biofuels and other renewable project developers on the development and financing of generation and production facilities. He also works for clients on the development of water/wastewater projects, pipelines, transmission lines, port and transportation systems, and other infrastructure areas.
He has special expertise in structuring project development arrangements, power sales and other offtake agreements, EPC and other engineering and construction contracts, debt and equity financing arrangements, fuel and feedstock arrangements, and other project arrangements.
Recent representative transactions include advising the following.
Project Development
- A leading U.S. independent power company in its joint development arrangements with a major turbine manufacturer in their joint development of a 550-megawatt power plant that is the first plant in North America employing leading-edge 7H gas turbine technology.
- A California-based solar panel distributor and development company in the structuring of all arrangements for the development of “solar communities” projects involving integrated photovoltaic roofing systems on new housing combined with long-term power purchase arrangements with homeowners.
- One of the world’s largest EPC contractors and a consortium of international shipping companies in their negotiation of a Development and Concession Agreement with the Ministry of Transportation of Indonesia for the development, construction and long-term operating arrangements for a US$650 million container terminal and deep-water port in Indonesia.
- A global equipment supplier and developer in connection with the first privatized power plant in Senegal, Africa, including structuring and negotiating all host country facilitation agreements, power sales and construction arrangements and project financing agreements.
- A global project development company in development, construction and long‑term management arrangements for a new recycled water production facility jointly developed with a California Sanitation District.
- One of the world’s largest construction companies in its joint venture arrangements with an agency of an Asian government for their joint development of privatized airport facilities around the world.
- A major U.S. independent power company in structuring and negotiating contracts with a California municipality and municipal utility for the joint development of an electrical transmission line.
- A U.S. developer in its negotiations with an Arizona electric utility for a new power plant to be developed on a Build-Own-Transfer (BOT) basis.
- A European water utility company in the preparation of form documents to use for Build-Own-Transfer (BOT) water infrastructure projects in southern China.
- A major U.S. independent power company in its negotiations with an Oregon-based utility for the development and long-term power sales from a large gas-fired generating facility.
- A Korean industrial company in the development, concession and power sales arrangements for the first privatized power plant in Papua New Guinea.
- A U.S. independent power company in its structuring and negotiation of a Lease and Concession Rights Agreement with an Indian tribe in Nevada relating to the private development and construction of a power-generating facility on tribal lands.
Project Construction and Operations Matters
- A major U.S. construction company and utility services provider in the structuring and negotiation of a 10-year, US$10 billion contract for the outsourcing of utility infrastructure construction, O&M and related technical services with performance based pricing and benchmarking.
- A number of photovoltaic solar project developers in connection with their development of form EPC and Installation Contracts for the installation of distributed PV solar power generation systems.
- A major U.S. energy equity fund its development of form Operations & Maintenance Contracts for gas-fired and renewable energy projects throughout the United States.
- A global construction company in connection with EPC contracts and related arrangements for new LNG facilities.
- A consortium of contractors, architects and engineers on a US$1.5 billion “design-build” arrangement for a new hospital campus in San Francisco.
- A major U.S. EPC contractor in analyzing its form EPC Contract used for project-financed energy and fuels projects, and in developing a form engineered equipment Purchase Order Contract to use for large equipment purchases in support of the EPC Contract.
- A major U.S. utility in its development of form contracts for the installation and long-term management of energy efficiency and demand-side management equipment.
- A U.S. equipment vendor in structuring and negotiating onshore and offshore supply and installation of barge-mounted generating facilities on the Amazon River.
- A Japanese EPC contractor in its bid to perform EPC construction work for a large generating facility in southern California.
- A global EPC contractor in developing open-book and related “transparent” pricing mechanisms for the pricing of EPC contracts with a joint venture entity affiliated to the EPC contractor.
Mr. Sherman also counsels energy and other infrastructure industry clients in general corporate and related legal matters, including company formation issues, day-to-day operating matters, company and project merger and acquisition transactions, and a host of related legal matters.
Mr. Sherman has written and lectured on a number of topics, including the following.
- “Financing the Infrastructure of North America Through Public-Private Partnerships,” Euromoney’s PPP West (2007).
- “How To Structure Complex Projects to Allocate Risks and Minimize Disputes,” American Bar Association (ABA) Forum on the Construction Industry (2001).
- Book Review “Financing Transnational Projects,” published In the American Bar Association’s The Business Lawyer, 1990.
- “Structuring Joint Ventures,” published in Insights Magazine, 1990.
- “Warren’s Forms of Agreements,” International Transactions, 1989.
Before joining Orrick, Mr. Sherman was a partner at Thelen Reid Brown Raysman & Steiner LLP, with a focus in project development and finance, construction, energy, utility and infrastructure and corporate governance.
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