Conventional Power
Our international energy history dates back more than 80 years. We are a global elite energy firm with a market-leading conventional power practice advising on some of the world’s largest and most complex conventional power energy projects, transactions and disputes. Our clients are the key players and investors in the sector.
We are recognized for our experience in leading legal directories such as Chambers, which described Akin as a “major player” with “renowned capabilities in the energy sector.”
Our roots run deep in the conventional power sector. Through the inevitable upturns and downturns in the market, our firm has had a long history of partnering with electricity and gas utilities, merchant generators and transmission and distribution companies, giving us a deep understanding of the sector’s landscape and its inherent challenges and opportunities.
Experience Spanning Technologies and Projects
We have significant experience across all technologies, spanning natural gas—including combined cycle gas turbine (CCGT) and open cycle gas turbine (OCGT)—coal and heavy fuel oil (HFO), nuclear and their supporting grid infrastructure.
Our experience spans the complete life cycle of baseload, mid-merit and peaking power projects. In addition, we advise on grid-connected conventional power projects when combined with carbon capture, utilization & storage (CCUS). We also have deep experience in conventional power generation in an industrial and behind-the-meter context.
As conventional power remains the dominant source of baseload electricity, our lawyers help clients playing a key role in “keeping the lights on” and ensuring energy security by providing grid ancillary services. These vital components support system operators through flexibility, frequency response, synchronous inertia and other essential services such as black start capability. These services are particularly critical as national electricity grids transition to a greater proportion of intermittent renewables in their energy mix.
Areas of Focus
We are best known for our capabilities in the following core areas across the conventional power sector:
- Project finance, development, construction, permitting, operations and maintenance
- Mergers & acquisitions (M&A), joint venture and securities & corporate governance, ranging from public company transactions to acquisitions and divestitures of individual power plants for both regulated utilities and independent power producers (IPPs)
- Liability management & financial restructuring, distressed and special situations
- International trade, lobbying & public policy and export controls & economic sanctions
- Energy regulatory
- Tax structuring & equity financing.
Our experience spans the complete life cycle of conventional power projects:
- 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
- Land and permitting issues
- Transmission rate incentives
- Generation and transmission interconnection procedures
- Regional transmission planning issues
- Grid network and transmission infrastructure and assets.
Cross-Practice, Global Team
We understand the impact and changing role of conventional power generation as a result of the energy transition and what this means for project structuring and risk allocation.
As power companies transition and adapt to the current environment, our cross-practice team helps clients achieve their decarbonization and sustainability goals through pursuing CCUS projects, decommissioning coal and other fossil fuel plants and transactions combining conventional power with renewable energy sources at utility scale.
Our lawyers handle conventional power matters in both established and emerging markets, including the United States, United Kingdom and Europe, Mexico and Latin America, Asia, Canada, Africa and the Middle East.
Transmission Solutions
We routinely represent clients on transmission projects and matters, including advising on jurisdictional status, open access, site control and suitability, reliability, transmission planning, investment structures, affiliate services and the host of regulatory issues.
On the regulatory side, we help clients navigate the complexities of compliance, market design, regulatory and enforcement matters before Federal Energy Regulatory Commission (FERC), the Department of Justice, the CFTC and other federal agencies, Congress, state public service commissions and state legislatures. Our familiarity with regional utilities commissions and system operators empowers us to navigate specific regulatory frameworks and approval processes required for successful project execution. We also represent clients in investigations by NERC and various Independent System Operators/Regional Transmission Operators (ISOs/RTOs) and their market monitors.
Depth of Practice
Our powerhouse team of experienced practitioners includes former FERC staffers from the Office of General Counsel. This gives us an insider’s perspective on the agency’s deliberative processes and the commercial implications of rulemaking.
Our understanding of wholesale market design issues allows us to provide value in drafting and negotiating contracts—including power supply agreements, generation and transmission interconnection agreements, electric energy transmission service agreements, tolling agreements, energy management agreements and scheduling coordinator/Qualified Scheduling Entity agreements, natural gas purchase and sales agreements, and gas and oil transportation agreements—based in those markets.
We also support clients in offtake arrangements, such as power purchase agreements, and derivatives, including weather derivatives, heat rate call options (HRCO) and capacity agreements.
Leading Lobbying & Public Policy Lawyers
Our powerhouse lobbying & public policy practice includes many former members of Congress and regulators. These lawyers and advisors help clients navigate the key regulatory and policy issues facing conventional power projects in markets around the world.
