Renewable Energy > Wind

As a leading advisor to clients in the wind industry, Akin Gump Strauss Hauer & Feld LLP is recognized not only for our extensive legal capabilities, but also for our deep understanding of the industry. Akin Gump attorneys include the former president and current board member of the American Wind Energy Association, the former CEO of one of the world’s largest wind energy developers and turbine manufacturers, and the former head of the project finance group of one of the world’s leading investment banks and one of the leading tax practitioners in the renewable energy area.

In this highly regulated, rapidly changing industry, Akin Gump is a true partner to our clients. To provide clients with comprehensive counsel, our project attorneys are able to draw upon the firm’s industry-leading practices in the areas of energy, private equity funds, mergers and acquisitions, tax, and policy and regulation. We regularly represent the foremost project sponsors and developers, commercial and investment banks and other financial institutions, private equity funds, investors, manufacturers, technology companies, contractors, tribal governments, sovereign nations and other participants in the sector.

Akin Gump attorneys have worked on many of the world’s most significant wind projects, including:

  • representation of sponsors in the development and financing of the 845 MW Shepherd’s Flat Wind Farm in central Oregon, including its over $2 billion financing (including $1.3 billion in construction and permanent debt guaranteed in part by U.S. Department of Energy under the Financial Institution Partnership Program)
  • representation of Terra-Gen Power in the development and financing of the first 1.32 gigawatts of its up to 3 gigawatt Alta Wind Energy Center in California. When completed, this will be the largest multiphase wind project in the United States. Our work has included a broad range of project development services including, the acquisition of project development assets, negotiation of turbine supply and construction agreements, real estate development, the structuring of shared facilities, arrangements and similar development activities, and the following financing and sale transactions:
    • a $115 million equipment financing (July 2009), a $400 million construction financing (March 2010) and a sale-leaseback financing (December 2010) for the 150 megawatt Alta Wind I project
    • a $1.2 billion financing for the Alta Wind II through V projects (totaling 568 megawatts) which included a Rule 144A bond offering, a bank cash grant bridge facility and a forward commitment for a sale-leaseback financing, making this the first large portfolio of wind projects utilizing a leveraged lease finance structure in the United States (July 2010)
    • $318 million of construction, cash grant bridge, letter of credit and mini-perm facilities for the 150 megawatt Alta Wind VI project (May 2011)
    • $313 million of construction, cash grant bridge, letter of credit and mini-perm facilities for the 150 megawatt Alta Wind VIII project (May 2011)
    • sale of the 150 megawatt Alta Wind VIII project to Brookfield (January 2012)
    • $347 million of construction, cash grant bridge, letter of credit and mini-perm facilities for the 168 megawatt Alta Wind VII project (April 2012)
    • $292 million of construction, cash grant bridge, letter of credit and mini-perm facilities for the 132 megawatt Alta Wind IX project (April 2012) and;
    • sale of the 150 megawatt Alta Wind VI project (now Mustang Hills) to Everpower Wind Holdings (May 2012)
  • representation of the Abu Dhabi National Energy Company in its first renewable energy investment in North America, a 50% interest in a 205.5 MW wind farm in Minnesota which sells power to Indianapolis Power Light
  • representation of Everpower Wind Holdings on the re-financing of the 150 MW Mustang Hills wind project in Tehachapi, CA.  The key components were: (i) a private placement of $245 million 5.15% notes due in 2035 (rated BBB- by Fitch), (ii) a $29.5 million letter of credit facility, and (iii) an $82 million cash grant bridge loan
  • representation of a tax equity investor in connection with providing tax and corporate advice on three significant wind production tax credit transactions
  • representation of a wind turbine manufacture developer in the joint venture development of over $1 billion in wind farm developments throughout the west and mid-west
  • representation of a developer in the acquisition of a portfolio of wind farm projects in Illinois with a potential capacity of 787 MW
  • representation of Western Wind Energy Company in the construction and permanent financing totaling over $275,000,000 for the Windstar wind energy project near Tehachapi, California
  • representation of Element Power in the construction and permanent debt financing and tax equity financing from MetLife for the development and construction of the Macho I wind farm near Hatch, New Mexico
  • representation of AES Corporation in the construction and permanent debt financing of the Mountain View IV wind farm in California
  • representation of sponsor in connection with construction, equity bridge and term loan financings of over $300 million for the 120 MW Windstar wind project in Tehachapi, California, and an 11 MW combined wind and solar project in Kingman, Arizona
  • representation of sponsor in connection with a $212 million construction and term financing for the Armenia Mountain project, a 100.5 MW wind farm located in Bradford and Tioga counties, Pennsylvania
  • representation of a sponsor in the approximately $1.4 billion sale of a portfolio of renewable energy projects, including its wind portfolio, to a private equity investor
  • representation of bank consortium in restructuring of Mojave 16/17/18 wind projects with a total value of $250 million in California
  • representation of major European wind turbine manufacturer in connection with numerous WTG sales in North America and Europe (both single-and multi-project sales) and in connection with development and operation of overseas production facilities
  • representation of bank consortium in the acquisition, development and financing of the $360 million White Creek Wind power generating facility in Washington state, the first municipal-financed and tax-equity-financed, prepaid power purchase agreement power facility to close in the United States
  • representation of a global financial services firm in connection with a 200 MW wind farm development, financing and asset acquisition in California and negotiation of 20-year, prepay power purchase agreement with SMUD
  • representation of developer in connection with the development and financing of a 260 MW wind facility in the Pacific Northwest with cross-border off take arrangements and prepay power purchase agreements with SCPPA, California’s largest municipal utility consortium
  • representation of developer with second phase (60 MW) and third phase (100 MW) of wind flats power projects and project financing and negotiations with equipment vendors and SCPPA as power offtaker
  • representation of bank consortium as arranger and tax- equity investors in a 150 MW West Coast based wind farm project and negotiation of a 20-year, prepay power purchase agreement with Turlock Irrigation District
  • representation of developer in connection with the 137 MW “Windy Point” project in Washington state
  • representation of a large European wind energy company in connection with the acquisition of a portfolio of wind development projects in Nebraska, Oregon, New Mexico and Texas
  • representation of developer in connection with a variety of ongoing transactions, including sale of offtake interests, shared facilities arrangements, O&M operations and ongoing arrangements with municipal utility power purchasers and equity investors
  • representation of developer and a financial institution in connection with the sale of Lehman’s equity interest in the 107 MW “White Creek Wind” power generating plant in Washington state
  • representation of financial institution in connection with the development financing and syndication of a 200 MW wind farm in the western United States
  • representation of a sponsor in connection with the $190 million project financing for a 112 MW wind project in Iowa
  • representation of a sponsor in connection with the $81 million project financing for an 80 MW wind project in Iowa
  • representation of a sponsor in connection with the development and sale of a 100 MW wind project in Iowa
  • representation of a sponsor in connection with the $76 million project financing for a 107 MW wind project in Minnesota
  • representation of a sponsor in connection with the $158 million project financing for a 77 MW wind project in California
  • representation of a sponsor in connection with a series of term loan facilities aggregating approximately $45 million for a series of wind projects in California
  • representation of a sponsor in connection with the development and sale of a 160 MW wind project in Colorado
  • representation of a sponsor in connection with the development and sale of a 300 MW wind project in California
  • representation of a sponsor in connection with the development and sale of a 100 MW wind project in Maryland
  • representation of a strategic investor and developer in the acquisition of wind power project assets in Michigan totaling more than 150 MW
  • representation of an investor in the purchase of a 10 MW wind project in Idaho.