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Kyle Drefke

Partner

Washington, D.C.

Kyle focuses on advising energy and infrastructure clients in corporate, financing, and project development transactions.

Kyle has represented clients in domestic and international financings, including syndicated credit facilities, private placements, and registered securities offerings. He has extensive experience in the development and structuring of long-term power purchase agreements with respect to thermal (nuclear, coal and natural gas) and renewable generation facilities. He has also represented clients in mergers and acquisitions (M&A), auctions, joint ventures, corporate restructurings and other general corporate matters.

Kyle has represented clients in various matters relating to the development, construction, ownership and operation of electric generation facilities in the United States, South America and Europe. His practice also includes the representation of clients seeking and obtaining substantial financing from the U.S. Department of Energy (DOE).

  • M&A and Corporate

    • Three cooperatives in the separate purchases of the Virginia electric distribution assets of two investor-owned utilities.
    • An Alaskan utility in the structuring of the financing of the acquisition of Anchorage Municipal Power & Light.
    • Represented a Kentucky utility in the acquisition of four coal-fired generation plants and related transmission assets from an investor-owned utility.
    • The negotiation of the acquisition of coal and natural-gas fired and renewable energy generation facilities, including in auctions.
    • A leading renewables developer in a joint venture with two other leading renewables developers.
    • A major U.S. renewable developer in the acquisition of the development assets of a Maine wind project.

    Financings

    • Borrowers in dozens of syndicated credit facilities.
    • Issuers of billions of dollars of debt securities in registered, Rule 144A and 4(a)(2) offerings.
    • A Texas utility in the development and implementation of an innovative “floating lien” first mortgage indenture as part of the refunding of all long-term indebtedness of the utility.
    • A Minnesota generation and transmission cooperative (G&T) in a $1.4 billion Rule 144A debt offering, the largest-ever capital markets offering by a G&T.
    • A North Dakota G&T in a $1.5 billion global private placement, the largest-ever private placement by a G&T.
    • An investor-owned utility in the implementation of a new first mortgage indenture and $640 million syndicated credit facility as part of a financial restructuring of the company.

    Power Purchase Arrangements

    • A power supplier in an 850 MW long-term power sales arrangement with two aluminum smelters in Kentucky.
    • A Texas utility in a request for proposals for firm, wind and solar energy and related contracts.
    • An Oklahoma utility with respect to the restructuring of its power supply arrangements to include long-term supplies of conventional, wind and solar energy.

    Project Development and Ownership

    • The unregulated subsidiary of an investor-owned utility in the negotiation of joint ownership arrangements relating to construction of a natural gas-fired combined cycle facility in Missouri.
    • An independent power producer in the development and construction of a natural gas-fired combustion turbine facility in Colombia.
    • A Japanese equity investor in wind-powered generating facilities in Italy.

    DOE Funding

    • A public power authority in a $1 billion+ DOE loan guarantee to finance its undivided interest in two new nuclear generation units.
    • An automotive company in a $528 million DOE loan guarantee for the development of a next-generation electric vehicle.
    • A major global conglomerate in the negotiation of a DOE grant to fund construction of a U.S. manufacturing facility.