Energy Transition

Areas of Focus

Our energy transition practice focuses on all aspects of the transition from energy production derived from fossil fuel sources to satisfying global energy demand through a new smart and sustainable energy ecosystem.

Our skill set extends to cover all major transactions linked to:

• Decarbonization of the electricity and gas sectors.
• Decarbonization of transport (road, rail, maritime and air).
• Decarbonization of energy- and carbon-intensive industrial processes (such as steel, aluminum, ammonia/fertilizer and cement production).
• Digital and technology solutions to improve energy efficiency, reduce unnecessary energy consumption and optimize our energy systems.
• Greenhouse gas (GHG) and carbon dioxide (CO₂) emissions offsets.

We advise on:

• Renewable energy such as wind, solar, hydropower and bioenergy, energy from waste.
• Production of clean hydrogen and derivate fuels such as green ammonia, e-methanol and sustainable aviation fuel (SAF).
• Carbon capture, utilization & storage (CCUS) and direct air capture.
• Electric mobility and electric vehicle (EV) charging infrastructure.
• Battery and energy storage.
• The transition to cleaner fossil fuels (such as natural gas) and best-in-class production and extraction techniques.
• Carbon-neutral or “green” liquefied natural gas(LNG) and the offsetting of GHG emissions associated with the LNG value chain.
• Decommissioning of oil & gas and coal assets across the world.
• The development of lithium and other critical mineral extraction and processing facilities to support the transition.
• Use of automated and digital solutions, technology and innovation to optimize our energy system and how we interact with it, reduce our energy consumption and deliver energy and product efficiency.

We are best known for our capabilities in the following core areas across the energy transition sector:

• Project finance, development, construction, permitting, operations and maintenance
• Mergers & acquisitions (M&A), joint ventures and securities & corporate governance
• Liability management, financial restructuring, distressed and special situations
• International trade, lobbying & public policy and export controls & economic sanctions
• Energy regulatory
• Tax structuring & equity financing
• Environmental, social & governance (ESG).

Our experience spans the full life cycle of energy transition solutions:

• Development, construction, operation and maintenance
• Financing and refinancings, whether using bank debt, institutional capital or private credit
• Acquisition and disposals and joint ventures
• Financial restructurings and special situations
• Government support and incentives including federal tax credits and grants
• Energy regulatory advice
• Feedstock and offtake arrangements
• Green corporate and virtual power purchase agreements
• Electricity, emissions and renewable certificates of origin trading
• Battery, energy storage, flexibility and route-to-market services
• Electric vehicle (EV) charging infrastructure
• Land and permitting issues
• Grid network and transmission infrastructure and assets.

Full-Service Firm and Multidisciplinary Practice

Our energy transition lawyers draw upon the resources of a full-service, international firm with coverage and extensive experience in the United States, United Kingdom and Europe, Latin America, Asia, Canada, Africa and the Middle East. We collaborate seamlessly across borders and disciplines.

Market-Leading Tax Credit & Tax Equity Team

Our market-leading tax team helps market participants seamlessly navigate the intricacies of tax credits including section 45Q, low-carbon fuel standards (LCFS) and renewable identification numbers (RINs) as well as new investment opportunities related to the Inflation Reduction Act. Within our ranks are also seasoned projects lawyers with deep experience in emerging financing models, including public-private partnerships.

Renowned Lobbying & Public Policy Practice

We have a renowned lobbying & public policy practice comprising many former members of Congress and regulators. These lawyers and advisors help clients navigate the key regulatory and policy issues facing CCUS, hydrogen and other sustainable fuel projects in markets around the world.

ESG

Further, we assist clients on ESG issues relevant to the sector including reputation and risk management (e.g., greenwashing, authenticity and substantiation of claims), ESG data reporting and disclosure compliance and embedding ESG factors in investment, lending and governance processes.

Representative Matters

Renewable Energy

• Counseled VLC Energy on its sale of two operational battery storage facilities totaling 50 megawatts (MW) to Gresham House Energy Storage Fund.
• Advised Infracapital on its majority investment in Zenobe, an EV commercial fleet, renewables and battery flexibility provider.*
• Represented CIT, a division of First Citizens Bank, and Siemens Financial Services, Inc. in connection with the construction and term loan financing of Aypa Power’s Wolf Tank energy storage project, a 173 MW stand-alone battery storage energy project located in Webb County, Texas.
• Represented SunPower in the sale of a 4.7 gigawatt (GW) portfolio of utility-scale development solar assets to Clearway Energy Group (NRG Renew) in California.
• Advised Fluor in the sale of its 50% interest in the 2 GW Seagreen Scottish offshore wind farm.*

Oil & Gas

• Advising Ofgem (the Great Britain energy regulator) in relation to the design and delivery of the new offshore regulated asset base (RAB) economic regulatory model to be applied to CCUS transport and storage.*
• Represented Talos Energy Inc., which through its Talos Low Carbon Solutions division formed a joint venture with Carbonvert Inc. and Chevron U.S.A. Inc., to develop the Bayou Bend CCS offshore carbon capture and sequestration hub.
• Advised CNX Resources in its transaction with Pittsburgh International Airport to develop a sustainable fuel hub utilizing lower-carbon intensity LNG and compressed natural gas (CNG) fueling depots for airlines, transit, cargo, fleet, military and other energy-intensive businesses.
• Counseled Vitol Green Holdings LLC, an affiliate of Vitol, in its sale to Amp Americas of renewable natural gas projects involved in the conversion of dairy waste into carbon-negative renewable transportation fuel and power.
• Advised J-Power (Electric Power Development Co. Ltd), one of the largest power generators in Japan, in its world’s-first A$496 million Hydrogen Energy Supply Chain (HESC) Project, which produces hydrogen from Australia’s vast brown coal reserves in the Latrobe Valley in the province of Victoria. The project demonstrates that clean liquid hydrogen can be produced safely through gasification of coal with carbon, a game-changer for the hydrogen sector.
• Representing a leading oilfield services company focused on low-carbon and carbon-neutral energy technologies in several projects, including its:
  • Joint venture to develop a groundbreaking bioenergy with CCUS project designed to produce carbon-negative power in Mendota, California, and qualify for the section 45Q tax credit.
  • Investment and collaboration agreement to deploy nickel-hydrogen battery technology across selected global markets.
  • Joint venture agreement to create a geothermal project development company.

*Matters handled by Akin partners prior to joining the firm.