Transactions involving the electric power industry have been a core competence of Baker Botts for over 100 years. During that time, much of the worldwide power industry has been deregulated and privatized. Today, growing concerns about global warming promise even greater changes – more renewable generation, carbon abatement transactions and projects, and implementation of smart grid technologies. We understand the commercial and regulatory implications of these trends, and assist our clients in all aspects of this dynamic industry.
Our clients cover the spectrum of participants in the power industry in virtually all types of relevant transactions, projects, and regulatory proceedings, including project development, project finance, permit and rate cases, and acquisitions and divestitures.
Our clients include:
- Sponsors and developers, in projects ranging from gas- and coal-fired plants to renewable generation, including wind, geothermal, biomass, and solar facilities, including the negotiation of all project agreements (from EPC contracts and turbine supply to power purchase and marketing agreements), and in state and federal regulatory proceedings
- Lenders, underwriters and other financial participants in all manner of financing transactions (including limited recourse project financings, portfolio financings, syndicated loans, corporate revolvers and private placements)
- Private equity, institutional investors and other purchasers in acquisition transactions, including single asset and portfolio acquisitions, equity investments, private auctions, bankruptcy-administered purchases and privatizations
- Traditional electric utilities, in adding generation, transmission and other assets, in rate-making and other regulatory matters, in permitting and environmental compliance, in advise on the latest tax credit opportunities for projects involving “smart” technologies such as advanced efficiency metering systems, battery systems, energy storage and efficiency services and in securities issuances and other financing matters
- Power purchasers and other customers, including utility purchasers, energy marketers and trading companies, industrial customers, steam hosts and hedge providers
- Suppliers and vendors, including construction contractors, turbine and other equipment suppliers, long-term service providers, fuel suppliers, fuel transportation companies, interconnecting utilities and make-up water and waste water suppliers and operators
- Owners of generation, transmission and distribution assets in sale transactions, including single asset dispositions, equity sales, sales of project portfolios, private auctions, bankruptcy-administered sales and privatizations
- Host governments, in connection with privatizations, concession agreements and bid administration