Baker Botts Represents DOE LPO in $2.5 Billion Loan Guarantee to WEC Energy Group
Deal Description: The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) has announced a conditional commitment for a loan guarantee of up to $2.5 billion to WEC Energy Group. The loan guarantee would help finance a portfolio of individual projects to Wisconsin Electric Power Company, a utility subsidiary of WEC Energy Group, including more than 1,650 MW of utility-scale renewable power generation and energy storage projects in Wisconsin. This is the first Energy Infrastructure Reinvestment (EIR) project, requiring the utility to demonstrate that the financial benefits provided by the DOE loan guarantee will be passed through to customers of the utility. The EIR program supports projects that retool, repower, repurpose, or replace energy infrastructure that is no longer being operated or avoids, reduces, utilizes, or captures air pollutants or greenhouse gas emissions.
Baker Botts Lawyers/Office Involved:
- Finance: Caitlin Lawrence (Partner, Houston); Luke Weedon (Partner, Dallas); Ed Gyasi (Associate, Houston); Brittany Simington (Senior Associate, Dallas); Therese Detablan (Associate, New York)
- Regulatory: Michael Yuffee (Partner, Washington, D.C.)
- Corporate: Tim Taylor (Partner, Houston)
- Environmental: Aileen Hooks (Senior Counsel, Austin); Shailesh Sahay (Partner, Washington, D.C.)
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.