Orrick Represents I Squared Capital in Agreement to Sell Lincoln Clean Energy

Orrick’s U.S.-based Energy & Infrastructure Group represented I Squared Capital, the global infrastructure investment manager, in its agreement to sell Lincoln Clean Energy LLC, a U.S.-based developer, owner and operator of renewables, to Ørsted A/S, a world leader in offshore wind, for an enterprise value in excess of US$500 million. 

Following acquisition by I Squared Capital in 2016, Lincoln Clean Energy grew into the largest non-utility owner of U.S. wind commissioned in 2017. The company has developed and built over 500 megawatts of operating capacity, is constructing another 300-megawatt onshore wind project, and has a pipeline of more than 1.5 gigawatts expected to be completed by 2022. The sale is subject to U.S. antitrust approvals and is expected to close before the end of 2018.

Orrick’s team was led by Tara Higgins. The core transactional team was Tara Higgins, Noreen Phelan and Chris Hutchison with support from Harry Clark, John Narducci, Wolf Pohl, James Larkin, Diana Gillis, Victoria Boyne, Devin Canavan, Lauren Webb and others.