Power & Renewables
Power & Renewables overview
The power sector is adapting to new pressures, driven by the rising demand for clean, reliable, flexible and affordable energy. White & Case guides clients through the challenges this shift creates, from evolving regulatory frameworks and changing market structures to grid constraints and capital-intensive investment decisions that demand nuanced, sector-specific legal advice. Working across power generation, transmission networks and related infrastructure, we help clients navigate complexity and convert it into strategic advantage.
Our offering
Integrated legal support across technologies and asset classes
Our lawyers advise on every phase of the power asset life cycle, from early-stage development, permitting and commercial contracts through financing and M&A to dispute resolution and arbitration. We work across the electricity value chain on:
- Conventional and flexible generation
- Onshore/offshore renewables
- BESS and other electricity storage
- Transmission, distribution and interconnectors
- Electricity markets and grid infrastructure
- PPAs/offtake, tolling, capacity arrangements and other commercial structures underpinning power assets
Insight from across the energy market
- We represent sponsors, investors, utilities, financiers, private equity firms, sovereign wealth funds, governments, multilateral agencies and major energy consumers, giving us a comprehensive view of the power sector.
- This breadth enables us to anticipate challenges, align interests and deliver strategies that are grounded in commercial reality and built for execution.
Global scope, local fluency
- Our teams operate worldwide, combining global experience with deep local knowledge. We deliver advice attuned to local regulatory environments and market conditions, supporting consistent execution wherever clients operate.
Complex and consequential matters
EDF power solutions S.A.
White & Case advised EDF power solutions S.A. on the US$4.2 billion sale to KKR of its operations and assets in the US and Canada, with potential additional payments of up to US$390 million. The North American business develops, builds and operates onshore and offshore wind, solar, battery energy storage and pumped-storage hydropower projects, and is also active in EV charging, microgrids, green hydrogen and transmission infrastructure.
EPH
White & Case advised EPH on the establishment of a 50/50 joint venture with TotalEnergies, valued at €10.6 billion. The JV will operate and develop a leading flexible power generation portfolio across European markets including Italy, the Netherlands, the UK and Ireland, and France. The transaction involves the sale of a 50 percent interest in EPH's existing flexible power generation assets to TotalEnergies. The portfolio includes gas-fired power plants, biomass assets, battery energy storage systems (BESS) and B2B energy supply activities.
Brookfield Renewable
White & Case advised Brookfield Renewable on its US$7 billion acquisition of Aypa Power, a Blackstone portfolio company that develops, owns and operates utility-scale energy storage and hybrid renewable energy projects. Aypa has 6.5 gigawatts of operating and contracted battery capacity, and more than 20 gigawatts in development.
Greater Changhua Offshore Wind Farms
White & Case advised the finance parties, comprising ECAs and commercial lenders, on the US$1.6 billion project financing of the 583 MW Greater Changhua 4 Offshore Wind Farm in Taiwan, as part of Ørsted's 50 percent equity divestment to Cathay Life. This deal won "Taiwan Renewable Energy Deal of the Year – Offshore Wind" at the Asset Triple A Sustainable Infrastructure Awards 2025. We also advised on the approximately US$3.3 billion project financing of Ørsted's 632 MW Greater Changhua 2 Offshore Wind Farm, also in Taiwan.
Calpine
White & Case advised Calpine on its US$16 billion sale to Constellation Energy. The agreement created the largest and most reliable clean energy provider in the US, with a diverse, coast-to-coast portfolio of zero- and low-emission generation assets. The cash and stock transaction, which comprised 50 million shares of Constellation stock and US$4.5 billion in cash plus the assumption of approximately US$12.7 billion of Calpine net debt opens opportunities to serve more customers coast-to-coast with a broader array of energy and sustainability products.
LS Power
White & Case advised LS Power on its US$5 billion acquisition of PJM generation assets from Constellation Energy, consisting of approximately 4.4 gigawatts of predominantly natural gas-fired generation capacity located in Delaware and Pennsylvania, including the Bethlehem, York 1, York 2, Hay Road and Edge Moor Facilities.
Manzanillo LNG-to-power project
White & Case advised the joint lead arrangers, joint bookrunners and joint structuring agents, as well as IDB Invest, Corporación Andina de Fomento and the other mandated lead arrangers and senior lenders, on the US$902.3 million financing for the Manzanillo LNG-to-power project in the Dominican Republic. The project consists of the design, development, construction, operation and maintenance of two combined-cycle thermal power plants, each with an approximate net installed capacity of 420 megawatts (MWs), for a total capacity of 840 MWs.
UCC Holding-led investor consortium
White & Case advised a consortium led by UCC Holding (Qatar) alongside Kalyon G.I.S. Energy (Türkiye), Cengiz Energy (Türkiye) and Power International (US) on the signing of landmark, first-of-their-kind US$7 billion investment and power purchase agreements with Syria's Ministry of Energy and the Public Establishment for Transmission and Distribution of Electricity, related to eight new power plant projects across the country with a combined generation capacity of 5,000 MWs.
ACWA Power, Badeel and Saudi Aramco
White & Case advised the five project companies—each a joint venture between ACWA Power, Public Investment Fund (PIF) company Badeel and Saudi Aramco—on the signing of a multibillion-dollar financing for a portfolio of five solar photovoltaic projects located in the Kingdom of Saudi Arabia with a combined capacity of 12 GWs.
Global Power Generation
White & Case advised Global Power Generation in the AUD 2.3 billion financing for a 1.8 GW portfolio of solar, wind and battery projects across Australia, including two solar PV plants in construction. The portfolio consists of eight operational assets and secures construction funding for two solar PV power plants, Glenellen and Bundaberg. The financing was supported by a syndicate of 11 local and international banks.
Key contacts
Related services
This practice is distinct due to its focus on the intricate intersection of energy regulations, technological advancements, and market complexities.”
