Carl Lyon, a New York partner, is a member of the Energy & Project Finance Group and serves as chair of the Public Power Practice. Carl focuses his practice on energy finance matters.
Carl Lyon, a New York partner, is a member of the Energy & Project Finance Group and serves as chair of the Public Power Practice. He focuses his practice on energy finance matters.
Mr. Lyon has been involved in over $120 billion in financings for various public and private utility projects. He has extensive experience in all areas of finance and contractual negotiations for rural electric cooperatives, public power issuers, federal power agencies, and investor-owned utilities, and their affiliates. He has worked extensively with taxable, tax-exempt, and tax-advantaged financings of all types for electric, gas, water, and waste water projects and in restructurings and work-outs. These projects include 5 different nuclear plants, with financing through both the public capital market and through the U.S. Department of Energy.
He has worked with a great number of cooperatives and other utility clients over many decades and though many complex transactions. He has represented TVA since the 1970’s and has been involved in all of their financings since they exited FFB in the late 1980’s. Most recently he has structured and executed a very complex lease purchase financing for TVA that earned him a Project Finance MVP award from Law 360.
He has worked with the Municipal Electric Authority of Georgia (MEAG Power) also since the 1970’s. A complex financing of some of its nuclear assets involving taxable and tax-exempt capital markets debt alongside of DOE guaranteed debt was selected by The Financial Times as one of the most Innovative Deals of 2011.
He assisted in the restructuring on Oglethorpe Power Corporation (which he has worked with since the 1970’s) into three different entities and the division of its debt obligations among these companies – a generation company (Oglethorpe Power Corporation) a transmission company (Georgia Transmission Company) and a services company (Georgia Services Company).
Mr. Lyon represented Old Dominion Electric Corporation in their exit from the RUS in the early 1990’s and Great River Energy in their exit early in this century.
He developed the first modern indenture for Chugach Electric Associates in 1991 which has since been adopted as the industry standard and used by more than two dozen other cooperatives.
He has represented TVA, MEAG Power, Big Rivers, Seminole, Basin Electric, Oglethorpe, Old Dominion, Gainesville Regional Utilities, Arkansas Electric, Western Farmers, Hoosier Electric, Dynergy, PP&L Global, US Generating Company, Great River Energy and others in complex lease transactions.
He represented Gainesville in connection with the development of a Biomass project.
He has negotiated and drafted power sales and purchase contracts for literally score of utilities.
He worked with Plains Electric G&T in its finance crises including lending negotiations with its creditors (RUS and others) which was resolved by a successful merger with Tri State G&T.
Mr. Lyon was one of the leaders in the development of joint action agencies among municipal utilities. He worked on legislation in 20 states to authorize their formation and testified before legislatures and legislative committees in many of these states. Mr. Lyon has worked with virtually every major investment banking firm and most major domestic and international banks.