Concentration

Summary

Mr. Krebs is co-chair (business) of WINDPOWER 2010, the largest annual wind conference and since been named one of six leading lawyers in alternative energy by Chambers USA in 2009 and 2010.

Mr. Krebs has broad experience in capital market, bank, lease and private placement financings involving renewables, power plants, petrochemical and LNG facilities, refineries, drilling rigs, drillships, FPSOs, pipelines and oil and gas projects. He advises clients on risk allocation and structuring arrangements consistent with their business objectives.

Mr. Krebs passed the CPA exam. He is proficient in German. Before law school, he worked in the international department of two New York money center banks.

Representative Engagements

• Horizon – $263 million wind project portfolio bank credit facility (Project Finance magazine's 2006 North American Renewable Energy Deal of the Year)
• BP – wind power joint ventures and project development
• Horizon – various acquisitions of wind facilities
• Zilkha Renewables – sale to Goldman Sachs
• BP, Direct Energy and Zilkha – PPAs and tax equity financing
• Credit Suisse – wind hedge
• Electric utility – investment in SEGS IX, one of the two largest solar fields in the world
• ASAlliances Biofuels, Inc. – proposed IPO 

LNG

• Brass LNG – construction and chartering of LNG tankers in Nigeria
• Petronet LNG – construction and chartering of LNG tankers in India
• BP – construction and chartering of LNG tankers for Tangguh in Indonesia
• Peru LNG – proposed construction and chartering of LNG tankers
• ConocoPhillips – Freeport, Texas, LNG import terminal

Oil and Gas, Oil Field Service, and Maritime

• BTC Consortium – structuring the financing of the Baku-Tbilisi-Ceyhan pipeline system, including consultation with IFC, World Bank, OPIC, EXIM and KFW
• ConocoPhillips – construction and charter of an FPSO operating in Vietnam
• Joint ventures of drilling contractor and Sonangol – project financing of two ultradeepwater drillships
• Bristow – leases of helicopters
• Japanese trading company – upgrade of a tanker into an FPSO chartered for use offshore Angola
• Project company – proposed $1 billion Rule 144A project financing of six ultradeepwater semisubmersible drilling rigs to be chartered to Petrobras
• Drilling contractor – purchase of a semisubmersible rig chartered to Petrobras and its Pickle cross-border lease
• Japanese trading company – loan secured by a rig chartered to Petrobras
• Japanese trading company – proposed Rule 144A project bond of three oil field platforms chartered to Petrobras
• Drilling joint ventures – rig and drillship construction contracts with Korean shipyards
• Drilling contractor – project financing of a rig operating in the Caspian Sea
• Oilfield service company – project financing through the synthetic lease of a seismic vessel
• Drilling contractor – project financing of a drillship featuring securitization of charter operating in Trinidad
• Project company – project financing of Gulf of Mexico spar
• Underwriter – $180 million of debt issued in a Rule 144A leveraged lease of an offshore production system
• Leasing companies – single-investor sale-leaseback transactions and upgrades of semisubmersible rigs
• Lender financing, with IFC involvement, of a Colombian oil and gas development partnership
• Japanese trading company – over a dozen financings of Mexican oil field service ventures, including construction of pipelines, cogeneration and gas compression facilities, and other infrastructure projects
• Investor – project financing of Michigan gas pipeline
• Japanese trading company – financing of purchase of single-well oil processing system operating in the North Sea
• Drilling company – U.K. tax lease restructuring

Power Projects

• Generation company – $1 billion leveraged lease financing of the acquisition of 21 plants in the Middle Atlantic states, then the largest nonrecourse leveraged lease of power plants
• Developer – EPC contract for a barge-mounted heavy oil power plant in the Dominican Republic
• Power generation company – $2.5 billion master synthetic lease for the construction of four greenfield projects
• Power company – Euro-based financing of Dutch utility acquisition
• Developer – $180 million proposed Rule 144A offering on Virginia merchant peaker
• Investors – tire-burning, gas, heavy fuels, solar and cogeneration facilities, propylene splitter and related project financings

Petrochemicals and Refining

• Hunt Refinery – $455 million project financing of refinery upgrade
• Excel Paralubes – $700 million project financing of lubricating base oils plant with two Rule 144A note offerings and commercial paper
• Joint venture – project financing of two calcined coke facilities
• Gas supplier and investor – two project financings with Hermes and KFW of ammonia plants in Trinidad
• Bank group – synthetic lease construction on MTBE plant
• Petrochemical companies – acquisition, financing and sale of several petrochemical facilities

Other Financings

• Transocean – $15 billion bridge loan, $7 billion working capital facilities, $2 billion bridge loan
• CenterPoint Energy – over $12 billion credit facilities, $1.31 billion loan from Berkshire Hathaway and over $5 billion in mortgage bonds
• Borrowers and lenders – billions of dollars of working capital, term loans, reserve-based and other facilities in the oil and gas, power, drilling, oil field service, transportation and construction sectors
• Borrowers and underwriters – billions of dollars of investment-grade, high-yield and other public and Rule 144A offerings in the oil and gas, power, drilling, oil field service, transportation and construction sectors 

Publications, Speeches, and Presentations

• Moderator, "Mergers & Acquisitions and Consolidations in the Wind Industry," Wind Power Finance & Investment Summit, Infocast, San Diego, February 2010
• "Which Way Do We Go?: ITC, PTC or Grant in Renewable Project Financing," UT Law CLE, Austin, February 2010
• "Renewable Project Business Models: Deal Structures and Economics," Renewable Power Project Finance: The Tutorial, Infocast, New York, January & July 2009; San Diego, October 2008; Houston, March 2008; San Diego, September 2007; New York, May 2007; Austin, December 2006
• "Wind Energy Business Models," Wind Power Development Tutorial, Infocast, San Diego, July 2009; Chicago, October 2008; San Francisco, July 2008; Houston, November 2007; Denver, July 2007
• Moderator, Navigating the Valley of Death, Commercialization Clean Energy Project, Baker Botts Seminar, Palo Alto, June 2009 
• Moderator, "Legal Issues in Wind Development," AWEA WINDPOWER 2009, Chicago, May 2009; AWEA WINDPOWER 2008, Houston, June 2008
• "Down to the Wire: Negotiated Transmission Issues in Power Purchase Agreements," AWEA Wind & Transmission Workshop, Overland Park, March 2009
• "Utility Ownership of Wind Projects," Wind Power Finance & Investment Summit, Infocast, San Diego, February 2009
• Moderator, "Financing Carbon Capture and Storage," Carbon Capture Status & Outlook, Infocast, Houston, October 2008
• "Power Purchase Agreements vs. Wind Power Hedges," Wind Power Finance & Investment Summit, Infocast, San Diego, February 2008
• "Financing of Wind Development: Financial and Legal Considerations," Wind Energy Institute, The University of Texas School of Law, Austin, February 2007
• "Renewable Project Business Models," Emerging Energy Technologies, Texas Journal of Oil, Gas, and Energy Law Symposium, Austin, February 2007
• "Follow the Money: The Rush to Finance and Invest in Renewables, an Introduction to Wind Financing Structures," Wind Energy Institute, The University of Texas School of Law, Austin, February 2007
• "Developments in Merchant Wind Power," Wind Power Finance and Investment Summit 2007, Infocast, February 2007
• Chair and Moderator, "Private Equity and Public Capital for Storage Projects," Platts Fifth Annual Gas Storage Outlook, Houston, January 2007
• "Financing and Investment in Ethanol Projects," Baker Botts, New York, June 2006
• "Innovations in Renewable Energy Financing," Renewable Project Finance Tutorial, Infocast, New York, May 2006
• "New Innovations in Wind Financing," Wind Power Finance and Investment Conference, Infocast, San Diego, February 2006
• "Importance of Contract Risk Mitigation to LNG Project Financing," Advanced Contract Risk Management for the LNG Supply Chain, IQPC, Houston, January 2006
• "Flexibility in Project Agreements: Impact on Financing," Financing the LNG Supply Chain, IQPC, London, January 2006