Michael Shenberg

Partner, New York

Biography

Michael Shenberg is a prominent figure in the electricity industry who has a particular aptitude for advising on M&A transactions. Clients say: “He's wicked smart, has good business sense, and knows how to manage a deal and get it done.”
Chambers USA 2018

Overview

A recognized leader in his field, Michael focuses on energy M&A, capital markets and financing transactions.

He has represented financial and strategic investors in numerous deals involving the purchase or sale of energy assets, including large portfolios, single-asset deals and joint ventures. Additionally, Michael advises energy company clients on financings including restructurings and corporate and commercial matters.

Bars and Courts
New York State Bar
New Jersey State Bar
Education
JD
New York University School of Law

cum laude, Member, Order of the Coif, Note Editor, New York University Law Review

BA
Rutgers University
Languages
English

Experience

The Carlyle Group in the $590 million acquisition, by its affiliate, of three natural gas-fired generation facilities in New England, with combined capacity of 1,100 MW, from Emera Inc.

Calpine Corporation in its US$17 billion sale to Energy Capital Partners, an energy-focused private equity firm, and a consortium of investors including Access Industries and Canadian Pension Plan Investment Board.

Macquarie Infrastructure Corp. in its sale of Bayonne Energy Center, a power generation facility in Bayonne, New Jersey.

Cogentrix Energy Power Management, LLC, a leading independent power producer and portfolio company of The Carlyle Group, in its sale of Red Oak Power, LLC, the US-based owner and operator of combined cycle electricity generating facility, to Morgan Stanley Infrastructure Inc.

Dynegy Inc. in its US$119 million sale of two intermediate gas-fueled plants located in Dighton and Milford, Massachusetts to a subsidiary of Starwood Energy Group Global.

IFM Investors, a global fund manager, in the sale of Essential Power, a 1,767 net MW power generation portfolio with headquarters in Princeton, New Jersey to The Carlyle Group.

Dynegy Inc. in the acquisition of a 28.1 percent  interest in the Wm. H. Zimmer Generating Station and a 36 percent  interest in Miami Fort Unit 7 and Miami Fort Unit 8.

Dynegy Inc. in the purchase by its wholly-owned subsidiary, Dynegy Zimmer of AEP Generation Resources Inc.'s interest in the Wm. H. Zimmer Generating Station; and in the sale by Dynegy's wholly-owned subsidiary, Dynegy Conesville, LLC  of its interest in the Unit 4 Conesville Generating Station to AEP.

Calpine Corporation in its US$1.05 billion acquisition of Noble Americas Energy Solutions, LLC (NAES), the nation's largest independent supplier of power to commercial and industrial retail customers.

Calpine Corporation in its US$395.5 million sale of Mankato Power Plant, a 375 MW natural gas-fired, combined-cycle power plant located in Minnesota, to Southern Company subsidiary Southern Power.

Calpine Corporation in its sale of South Point Energy Center, an approximately 504 MW natural gas-fired, combined-cycle, electric generation facility on the Fort Mojave Indian Reservation in Mohave Valley, Arizona, to Nevada Power Company.

Calpine Corporation in its US$500 million acquisition of the Granite Ridge Energy Center, a 745 MW combined-cycle, gas-fired power plant located in Londonderry, New Hampshire.

Global Infrastructure Partners in the acquisition of the principal holdings of Competitive Power Ventures.

Dynegy Inc., the third-largest independent power producer in the United States, in its US$2.8 billion acquisition of ownership interests in certain Midwest generation assets from Duke Energy Corp. The sale, which included 11 Duke natural gas, coal and oil power plants in Ohio, Pennsylvania and Illinois as well as its retail sales business, was part of a US$6.25 billion acquisition of power plants from Duke Energy Corp. and private equity firm Energy Capital Partners, almost doubling Dynegy's generating capacity less than a year after emerging from bankruptcy protection.

Calpine Corporation in its US$1.57 billion sale of six power plants, located in Oklahoma, Louisiana, Alabama, Florida and South Carolina and comprising 3,498 MW of combined-cycle generation capacity, to NatGen Southeast Power LLC, a wholly-owned subsidiary of LS Power Equity Partners III.

Calpine Corporation in its US$530 million acquisition of Fore River Generating Station, a nominal 809 MW combined-cycle power plant, from Exelon Corporation. The natural gas-fired plant is located in North Weymouth, Massachusetts, 12 miles southeast of Boston.

Calpine Corporation in its US$625 million acquisition of Guadalupe Generating Facility, a nominal 1,050 MW, combined-cycle, natural gas-fired power plant located in Guadalupe County, from Wayzata Investment Partners LLC.

Cogentrix Energy Power Management LLC in its acquisition of an 830 MW gas-fired, combined-cycle power plant owned by Energy Capital Partners and located in Sayreville, New Jersey.

Russell City Energy Company, LLC, a project company 75 percent owned by Calpine Corporation and 25 percent owned by an affiliate of GE Energy Financial Services, in connection with the US$844.5 million construction financing of a natural gas-fired, combined-cycle power generation facility.

Kelson Energy, Inc. in its sale of a 968 MW natural gas-fired power plant to the Tennessee Valley Authority (TVA); and in the US$77.2 million sale by its subsidiary, Dogwood Energy LLC, of an undivided interest in a combined-cycle, natural gas-fired electric generating facility located in Cass County, Missouri.

Awards and Recognition

Listed among the Top 50 M&A Lawyers, The Deal, 2018

Leading Individual for M&A in the United States, Euromoney's Banking Finance and Transactional Expert Guide, 2018

Leading Individual for Energy: Electricity, Chambers Global and Chambers USA, 2017

Recognized Individual for M&A: Large Deals and Energy Transactions: Conventional Power, Legal 500 USA, 2017

Recognized Individual for Energy Selected for New York Super Lawyers, Metro Edition, 2006 - 2017