2 minute read | March.21.2023
IJGlobal has selected Orrick as its Legal Adviser of the Year at its 2022 North America awards gala, which recognizes the top transactions across the energy and infrastructure sectors and the organizations that played central roles in the deals. The firm was lauded for its work on many landmark transactions of 2022. IJGlobal highlighted Orrick’s work on the US$571.5 million tax-exempt bond financing for Elizabeth River Crossings in Virginia—a first-of-its-kind P3 forward delivery bond refinancing that allowed issuers to lock in savings in a low-rate environment; the US$1.9 billion development and financing of Primergy’s Gemini project—the largest solar plus storage project in the U.S.; and the US$3.1 billion project financing of the construction and operation of Intersect Power’s 1.5 GW solar plus 1 GWh storage portfolio, noting the complex financing structure that incorporated PPAs and uncontracted revenue streams in addition to 4 concurrent secured and unsecured hedges in the form of fixed volume hedges and revenue put options.
One of the judges remarked, “Orrick stands out because of the range and diversity of legal mandates and projects they successfully brought to close, which demonstrated an ability to identify and support core as well as emerging sectors, procurement models and assets leveraging individual, team and firm-wide structuring and execution skills. Each of the projects Orrick identified was impressive and —when aggregated—displayed depth and breadth of legal excellence, among a strong group of legal firms that all deserve recognition for the role they play in driving transactions to completion.”
In addition, the firm’s work on three transactions were recognized as Deals of the Year. Primergy’s solar + storage Gemini project was awarded Renewable Energy Deal of the Year, Pennsylvania Department of Transportation’s PennDOT Major Bridges P3 was selected as Transport Deal of the Year and District of Columbia's Smart Street Lighting P3 was named P3 Deal of the Year.