Hedging for New Use Cases: Battery Storage, Proxy Generation & Affiliate Swaps

Infocast

Seminar | April.27.2021 - April.28.2021 | 8:45am - 2:00pm (Pacific Standard Time)

Virtual Master Class

Join partner and lead instructor, Giji John, along with partners Cory Lankford, Nik Mathews, Rohit Sachdev and Paul Zarnowiecki for an Infocast Master Class titled, “Hedging for New Use Cases: Battery Storage, Proxy Generation & Affiliate Swaps.” During the two-day virtual Master Class, Orrick partners will delve into non-standard hedge agreements and the provisions and conceptualization essential to their use with battery storage, proxy generation and affiliate swaps. Attendees will gain invaluable insight into the contractual frameworks involved in negotiating bespoke hedge agreements for renewable energy projects. Orrick partners will be joined by industry expert and CEO of Resurety, Lee Taylor, as a panelist.

Clients and friends of Orrick will receive a 15% registration discount by using the following code: ORRICK15

CLE Credits Available: Y

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Practice:

  • Energy & Infrastructure Sector
  • Energy & Infrastructure
  • Energy
  • Infrastructure

A. Cory Lankford 合伙人

Washington, D.C.

Cory advises clients on wholesale energy market rules, regulations, and matters before the Federal Energy Regulatory Commission (FERC) relating to the development, ownership, and use of energy projects throughout the U.S.

Cory is recognized as a notable practitioner by Chambers USA, where clients describe him as "thoughtful, responsive and careful in his advice," "a subject matter expert on the regulatory side," and as an attorney who "provides swift and precise advice."

Cory's clients include developers of renewable energy and battery storage projects, electric utilities, financial institutions, and corporations with renewable energy targets.  He advises clients on their rights and responsibilities under the Federal Power Act, the Public Utility Regulatory Policies Act, and the Public Utility Holding Company Act.  In addition, he frequently represents clients in proceedings before FERC to obtain and maintain authorization to sell energy, capacity and ancillary services at negotiated or market-based rates and to purchase and sell direct or indirect ownership interests in energy projects.  Drawing from his broad energy regulatory experience, Cory assists clients in developing and implementing programs to comply with evolving rules, regulations and standards administered and enforced by FERC and the North American Electric Reliability Corporation (NERC).

Before joining Orrick, Cory served as an attorney in the Office of the General Counsel at FERC, where he led numerous multidisciplinary teams in the development and drafting of many Commission orders addressing Regional Transmission Organizations, compliance with open access requirements, transmission, generator interconnection and qualifying facility certification.  Among his accomplishments at FERC, Cory provided legal counsel on rulemaking proceedings to revise FERC's pro forma Open Access Transmission Tariff and to evaluate national and regional mandatory reliability standards proposed by NERC and its regional entities.  In addition, Cory coordinated with staff at the U.S. Department of Energy to draft the National Action Plan on Demand Response and the corresponding Implementation Proposal to Congress. 

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Practice:

  • Finance Sector
  • 金融衍生品
  • Structured Finance
  • Energy
  • Infrastructure

Nikiforos Mathews 合伙人

New York

Nik, a partner in Orrick’s New York office, serves as Global Co-Head of the Derivatives group and is a member of the firm's Finance and Audit Committee. He is also a member of the Structured Finance, Banking and Finance, and Energy and Infrastructure groups.

His practice focuses on representing financial institutions, governmental and regulated entities, hedge funds and corporate end-users in developing, structuring and negotiating a broad range of fixed income, foreign exchange, commodity, energy and credit derivative products. Among other things, he has successfully negotiated numerous domestic and cross-border lien-secured hedging transactions relating to leveraged loans and infrastructure transactions, as well as deal-contingent hedges. In addition, Nik has significant experience in foreign exchange and fixed income prime brokerage issues, as well as various structured products. He also regularly advises clients in connection with derivatives regulation, including the application of the Dodd-Frank legislation and related regulations. Also, Nik provides counsel on close-out netting matters and UCC issues relating account control arrangements for collateral. Nik regularly advises on the structuring and negotiation of energy and commodity hedging transactions, as well as swap regulatory matters relating to VPPAs. Moreover, on a regular basis, Nik represents market participants on the termination and close-out of derivatives and other products, including providing advice on related bankruptcy matters.

Nik is lead editor of Orrick’s publication, Derivatives in Review, which periodically highlights important legal, regulatory and other newsworthy developments in the area of derivatives. He has also published articles in several journals, including on rating agency hedge criteria in connection with structured finance transactions.

Before joining Orrick, Nik was vice president and assistant general counsel at Goldman, Sachs & Co. and director and counsel at UBS AG. He also served as a law clerk to the Honorable Nicholas Tsoucalas of the United States Court of International Trade.

From 1999 to 2007, Nik held a commission as a Captain in the United States Army Reserve, where he was qualified to practice as a Judge Advocate. A veteran of both Operations Iraqi Freedom and Enduring Freedom, he served as an Operational and Administrative Law attorney in Kuwait, Iraq and Afghanistan.

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Practice:

  • Energy & Infrastructure Sector
  • Energy
  • Infrastructure
  • Renewable Energy
  • Wind Energy
  • Energy Storage
  • Mergers & Acquisitions

Rohit Sachdev 合伙人

旧金山

Rohit represents over 25 of the world’s leading renewables and energy storage developers on project development and project M&A arrangements.

Rohit has extensive experience in the solar, wind, energy storage, and biofuel sectors, and has advised on numerous award-winning transactions. He is recognized nationally by Chambers in the Projects: Renewables & Alternative Energy category. Rohit’s clients describe him as “very commercial” and “very plugged into the market.”

In recent years, Rohit's practice has focused particularly on project development and project M&A transactions. He has successfully negotiated many GWs of "physical" and "virtual" PPAs and tolling agreements, as well as a variety of construction, supply and other development arrangements. Rohit has also represented clients on the purchase and sale of renewables projects in various U.S. jurisdictions, as well as joint venture and other project asset arrangements. He has particularly focused on the development, financing and sale of domestic and international energy storage projects, including stand-alone, hybrid, front-of-meter and behind-the-meter projects.

Rohit co-leads Orrick’s South Asian Affinity Group and served as a Fellow for the Leadership Council on Legal Diversity.

He started his legal career at an international law firm in New York, where he focused on project development and project finance transactions across the globe. Prior to law and business schools, Rohit was an investment banking analyst at Credit Suisse in San Francisco where he provided M&A and financial advisory services to technology companies in Silicon Valley.

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Practice:

  • Energy & Infrastructure Sector
  • Energy & Infrastructure
  • Renewable Energy
  • Banking & Finance
  • Mergers & Acquisitions
  • Energy
  • Infrastructure

A. Paul Zarnowiecki 合伙人

Washington, D.C.

Paul represents sponsors, investors, utilities and other strategic participants in corporate and project finance transactions, primarily in the energy and infrastructure sectors. He also serves as the Office Leader for Orrick's Washington, DC office.

Transactions on which Paul has advised include the development, financing, acquisition and divestiture of renewable and conventional power projects and other infrastructure assets in a broad range of commercial and corporate transactions. He has served as lead counsel on some of the most innovative and complex U.S. renewable energy transactions in recent years in both the wind and solar energy sectors.