4 minute read | January.18.2024
Teresa Hill, leader of Orrick’s global corporate buy-side PPA practice, said: “Companies are looking to PPAs to achieve their ESG and sustainability goals, which is fueling unprecedented demand for both buy-side and sell-side expertise. Orrick is on the cutting edge of this rapidly growing market, and we’re honored to work with market leaders such as Microsoft. Alfred helps build on this momentum in London and keep up with demand, adding another top-quality renewable energy procurement and decarbonization advisor to our bench.”
“As renewable energy transitions from reliance on subsidy to alternative revenue models, the demand for PPA expertise has never been higher. We’re excited to strengthen our platform with dedicated PPA resource from someone who has been at the forefront of these arrangements. Alfred is another great addition to our award-wining team,” added London-based Evan Stergoulis, co-head of the firm’s global renewables practice.
Orrick is at the forefront of representing buyers and sellers in the global PPA market, which was valued at $20.1B in 2022 and is expected to reach $399.2B by 2031 (Transparency Market Research). The firm’s buy-side work alone in 2023 included closing 60+ deals in 14 countries. For example, the firm’s work for Microsoft, one of the most pioneering purchasers in the market, included implementing a 24/7 energy delivery structure for a Microsoft data center that was recognized in the 2023 Financial Times Innovative Lawyers Report.
“The market for corporate PPAs and renewable energy investment has never been more dynamic, with companies across Europe and around the world innovating to advance energy transition goals. I’m excited to join a firm that is pioneering first-of-their-kind PPAs and other renewable energy deals. I look forward to collaborating with the team to provide top-quality advice and help clients innovate,” Alfred added.
Alfred is the 16th partner to join Orrick’s global Energy Transition platform since the beginning of 2022. He follows the hire in October of rising star offshore wind advisor Albert Yu in London, as well as high-profile hires and moves globally, including: Teresa Hill, tax equity advisor John Eliason, and energy regulatory advisor Patrick Ferguson in the U.S., and Karthik Kumar and Jon Thursby in Singapore, where they were recently joined by former Houston-based partner Giji John. London-based Evan Stergoulis joined in 2020, helping the firm’s wind practice advise on 38+ GW of wind projects totaling more than $11.9B since 2022 and earn recognition in 2023 as both Wind Investment Legal Advisor of the Year (Tamarindo) and European Law Firm of the Year (IJInvestor).