Renewable Energy

About

The rapidly expanding renewable energy market faces a broad range of challenges. We create unique deal structures that enable our clients to achieve commercial success in demanding regulatory and market environments. We work with sponsors, operators and financiers to meet their commercial objectives by advising on the entire life cycle of renewables assets, from early-stage development, regulation, commercial contracts, construction and project financing through to structuring and executing mergers and acquisitions, and disputes and arbitration.

As one of the world's leading providers of legal services to the renewable energy and clean power industry, White & Case is committed to the long-term growth of renewable energy and the technologies that support energy transition (such as storage). We have extensive experience advising on award-winning renewable energy projects across the globe and understand the complex issues raised by our clients' renewable and clean energy matters. Our creative approach to risk management and deal execution focuses on the parties' core commercial objectives. We consider the varied perspectives of all sides on a project, helping us to craft and deliver pragmatic solutions.

White & Case is at the forefront of energy transition. Our renewable energy assets and technology experience help us to support our energy industry clients as they embrace increasing demands to clarify the implications of energy transitions for their operations and business models.

 

Read more information on our work with Energy and Power.

Experience

NORTH AMERICA

Consortium of Korean Investors in Acquisition of Significant Equity Interest in US Wind Portfolio
Representation of a consortium of Korean investors in connection with an acquisition of a 49.9% cash equity interest in a portfolio of four US wind projects totalling 852 MWs, located in Texas, Illinois and Nebraska. The equity interest was acquired from Brookfield Renewable and Invenergy LLC in a transaction with an implied aggregate enterprise value for the portfolio of approximately US$1.5 billion. This landmark transaction is one of the first major investments made by Korean infrastructure investors since COVID-19 and the largest renewable energy acquisition completed globally by Korean investors to date.

Representation of the seller in an ongoing auction of a battery and solar storage platform in the US.

Acquisition of Equity Stake in Escalade Wind Project
Representation of Akuo Energy as equity investor in connection with the acquisition of an equity stake in a 336 MW Escalade wind project in Texas developed by Taaleri Energia.

Mangilao Solar Project
Representation of Mizuho Bank, Ltd. and The Korea Development Bank as lead arrangers and lenders in connection with a back-leverage financing for the construction and operation of a 60 MW AC solar photovoltaic power plant with a 32 MW / 32 MWh battery storage system, located in Guam, the US territory.

Masdar Landmark Acquisitions in North America
Representation of Abu Dhabi Future Energy Company (Masdar) in its:

  • acquisition of a 50% cash equity stake in a 1.6 GW portfolio of six solar and wind farm projects located in California, Nebraska and Texas from EDF Renewables, making it one of the largest acquisitions of renewable assets in North America in 2020.
  • acquisition of a 95.3% stake in the 149 MW Rocksprings wind farm in Texas and a 92.5% stake in the 29.9 MW Sterling wind farm in New Mexico from John Laing Group plc. This transaction marks Masdar's first renewable energy investment in North America.

Avangrid Investment in Vineyard Wind Offshore Wind Project
Representation of Avangrid Renewables, LLC as a 50% cash equity investor in connection with the joint venture arrangements, tax equity investment and financing of the 800 MW Vineyard Wind offshore wind project, located off the coast of Massachusetts.

SolairHolman I Project
Representation of Solairedirect (a subsidiary of Engie) as sponsor and cash equity investor in connection with the SolaireHolman I project involving the back-leverage financing of, and tax equity investment in, a 50 MW solar project in Texas.

 

LATIN AMERICA

RenovAr renewable energy projects in Argentina
Representation of various sponsors and groups of creditors in connection with multisource project finance credit facilities for 11 wind and solar projects in Argentina backed by RenovAr PPAs, including representation of sponsor Central Puerto in connection with financings for the Castellana, Achiras and Genoveva wind farms, representation of Neoen in connection with the financing for the Altiplano 200 solar projects, and representation of EKF, FMO, CAF, SMBC, KfW and DEG in connection with financings for six wind projects developed by Genneia in Argentina.

ASIA-PACIFIC

Yunlin Offshore Wind Farm
Representation of the export credit agencies and a large syndicate of international and Taiwanese commercial banks on the €2.7 billion (NT$94 billion) financing of wpd's 640 MW Yunlin offshore wind project in Taiwan. This deal won "Asia Pacific Renewable Deal of the Year 2019" by PFI Awards, "Overall ECA-backed Deal of the Year 2019" by TXF Awards, "Asia Pacific Offshore Wind Deal of the Year 2019" by IJGlobal Awards and "Deal of the Year 2019" by Asian-mena Counsel.

Hornsdale Power Reserve
Representation of Neoen on its joint development with Tesla of the 150MW/`190MWh Hornsdale Power Reserve in South Australia, the largest lithium ion battery in the world and the first standalone grid scale battery to be project financed.

Formosa 2 Offshore Wind Project
Representation of Stonepeak Infrastructure Partners on the acquisition of a 95% interest in Swancor Renewable Energy Co. Ltd, including its 25% interest in the Formosa 2 offshore wind farm project in Taiwan. This deal was recognized as "Renewables Deal of the Year, Asia-Pacific" at the 2019 Infrastructure Investor Awards.

John Laing Portfolio Acquisition
Representation of First Sentier Investors (FSI) on its acquisition of John Laing's Australian wind farm renewable portfolio, including John Laing's stake in the Cherry Tree and Kiata wind farms in Victoria, Hornsdale wind farm in South Australia and the Granville Harbour wind farm in Tasmania.

Western Downs Green Power Hub
Representation of Neoen on the development and project financing of the 460MWDC Western Downs Green Power Hub in south east Queensland, Australia which, when completed, will be Australia's largest solar farm with the capacity to power 235,000 homes.

Changfang and Xidao (CFXD) Offshore Wind Project
Representation of Copenhagen Infrastructure Partners (CIP) on the development, equity sale process and US$3 billion (NT$90 billion) financing of the 589 MW Changfang and Xidao (CFXD) offshore wind project in Taiwan.

 

EMEA

EIG Investment in ib vogt's Solar PV Pipeline
Representation EIG Global Energy Partners (EIG), a US-based investor in the global energy and infrastructure sectors, on the commitment from EIG managed funds of €135 million for ib vogt GmbH's global solar pv portfolio.

Scotland's largest wind farm
Representation of an international energy fund in relation to the financing of the Seagreen offshore windfarm in Scotland. With a capacity of 1,140MW, and project value of £3 billion, Seagreen will be Scotland's largest wind farm once complete and will generate enough electricity to power 1 million homes, furthering the UK's ambition to deliver 40GW of offshore wind by 2030.

Eranove and the Fonds Gabonais d'Investissements Stratégiques (FGIS) financing, design construction and operation of a 73 MW hydro-power project
Representation of Eranove and the Fonds Gabonais d'Investissements Stratégiques (FGIS) in connection with the negotiation of a concession agreement for the financing, design construction and operation of a 73 MW hydro-power project and a located in Ngoulmendjim a 15 MW hydro-power project located in Dibwangui in the Gabonese Republic.

R.POWER Record Solar Energy Sale in Poland
Representation of R.POWER on the largest transaction in the Polish photovoltaic sector to date – the sale of its portfolio of 122 MWp turnkey terrestrial photovoltaic farms to the fund Aberdeen Standard Investments (ASI).

Eranove design, financing, construction, operation and maintenance of a €110 million 42MW hydroelectric dam
Representation of Eranove in connection with the design, financing, construction, operation and maintenance, under a Public-Private Partnership agreement, of a €110 million 42MW hydroelectric dam in Kenié, Mali.

Investor Consortium Further Project Bonds for Norwegian Wind Farms
Representation of a group of institutional investors led by MEAG, the central asset manager of insurers Munich Re and ERGO, and Deutsche Bank Luxembourg S.A. as financing agent and security agent, on the structuring and financing of the Skinansfjellet and Gravdal wind farms in south west Norway.