Akin Gump Counsels Northleaf Capital Partners in 217 MW Wind Portfolio Purchase

(Los Angeles) – Apex Clean Energy announced the sale of a majority ownership stake in a 217 MW renewable energy portfolio to Northleaf Capital Partners, a leading independent global private markets manager, with more than $7 billion in infrastructure and private equity commitments under management. An Akin Gump team led by global project finance practice chair Ed Zaelke and corporate counsel Courtney Matsuishi advised Northleaf in the acquisition.

The portfolio consists of the 50.4 MW Cotton Plains Wind and 151.2 MW Old Settler Wind facilities in Floyd County, Texas; and the 15.4 MWac Phantom Solar facility currently under construction on-site at U.S. Army Garrison Fort Hood in Killeen, Texas. In a deal announced in January, the Defense Logistics Agency, on behalf of the Army, will purchase the power from Cotton Plains Wind and Phantom Solar to supply energy to Fort Hood. Old Settler Wind will generate enough clean electricity to power an additional 51,000 average U.S. homes. Apex will provide asset management services for all three facilities. The transaction is the largest renewable energy power purchase agreement by the U.S. Army to date.

In addition to Mr. Zaelke, the Akin Gump deal team comprised global project finance partners Thomas Dupuis and John Marciano, counsel Carl Fleming and associates Daniel Lynch and Daniel Prince; energy regulation, markets and enforcement partner George “Chip” Cannon Jr.; public law and policy senior counsel Ian Shavitz; and real estate associate Chad Richwine.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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