Project Finance

Because we know the industries in which our clients operate, we understand the distinct issues and concerns of each of the parties involved and how decisions along the way can have a unique impact. We navigate all of the individual perspectives, approvals, needs and requirements to reach agreement on all issues and complete the transaction.

Our approach

The large, often complex projects we work on bring together multiple entities that operate under different regulatory requirements, access capital from different sources, often have different goals and answer to ownership or management teams with distinct strategic priorities. The complexity of the deals requires a legal team with experience and agility.

We draw on Nixon Peabody’s diverse pool of talent and resources in environmental, real estate, investment and tax law to craft broadly reasoned strategies. This interdisciplinary capability is often a powerful asset for clients attempting to master complex infrastructure problems in a demanding legal environment.

In the energy sector, our lawyers have structured auctions of energy-generating facilities and helped clients acquire and dispose of energy and infrastructure assets, both in the U.S. and abroad. We represent project developers, electric and gas utilities and other energy enterprises before federal and state regulatory bodies in all phases of the regulatory process. In the area of economic development, we have worked on sports and entertainment venues, water facilities, hotels and convention centers, paper and pulp mills, transportation hubs and toll roads.

Who we work with

• Merchant generating facilities
• Utility-owned generating facilities
• Publicly owned generating facilities
• Combined heat and power projects
• Pollution control facilities
• Solid waste/resource recovery facilities
• Renewable energy projects
• Construction firms

Recent experience

• In 2011, The American Lawyer named two Nixon Peabody partners “Dealmakers of the Year” for their work on the CapX 2020 Utilities transactions. Nixon Peabody is representing all 11 of the CapX 2020 Utilities in connection with five joint venture transactions to expand the electric transmission grid and support renewable energy expansion. The parties themselves recognize the daunting task of harmonizing the view of 11 separate load serving entities consisting of public power entities, investor-owned utilities and cooperatives. Achieving the mission to document and close each deal with terms satisfactory for the parties to each project requires understanding of each client’s business and related needs.
• Transbay Joint Powers Authority: Serving as financing counsel to the Transbay Joint Powers Authority in San Francisco, California, in connection with a multi-year, multi-billion dollar mixed use development to replace the former bus depot with a commuter rail/high-speed rail/regional bus facility that will service Bay Area commuters, portions of which will be financed with developer contributions and related real estate-based taxes. Parts of that project may be privatized.
• Private fertilizer plant: Served as lender’s counsel in connection with a $1.8 billion nitrogen-based fertilizer plant owned and operated by an affiliate of a global nitrogen-based fertilizer producer, engineering and construction company based in Amsterdam, the Netherlands.