Orrick’s Energy & Infrastructure group recently advised on two transactions that were awarded Deal of the Year at the IJGlobal Americas Awards ceremony in New York on March 12, 2015.
North American Renewables Deal of the Year: Regulus Solar Project in California for SunEdison
Orrick represented SunEdison, LLC, with the construction loan, term loan, and tax equity financing for a 60 MWac grid-connected, ground-mounted solar photovoltaic generating facility located in Kern County, California. Google is the investor, with Prudential and Santander Bank acting as lenders. The transaction represented one of the largest tax equity investments in utility scale solar since the U.S. Treasury cash grant expired, and one of the largest solar financings in the U.S. in 2014.
The transaction was led by Orrick Energy & Infrastructure Partners Mark Weitzel, Tom Glascock and Les Sherman.
North American Single-Asset Power Deal of the Year: Oregon, Ohio Gas-Fired Generating Facility
Orrick represented Energy Investors Funds and Oregon Clean Energy, LLC in the development, debt financing, hedge financing, and equity raise for the Oregon Clean Energy Center, an 869 MW natural gas-fired electric power plant being built in the City of Oregon, Ohio. This project will be the most efficient generating facility in the mid-Atlantic power markets.
The transaction was led by Orrick Energy & Infrastructure Partners Tara Higgins (debt), Mark Weitzel (equity) and Rafael Galvan (development).