Project Finance



Whether energy generation, transportation facilities, stadiums and arenas or other major infrastructure, our multidisciplinary team efficiently and effectively gets the deal done.

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.

LaGuardia AirTrain RFQ expected to be issued by year end

InfraAmericas | June 27, 2018

New York City public finance and project finance partner Roddy Devlin is quoted in this article discussing the advantages of using a public-private partnership to complete “key public projects that have to be brought in on schedule.”

U.S. airports on the runway

Project Finance International | June 26, 2018

Project Finance and Public Finance partner Roddy Devlin, together with group leader Ken Lind and partner Virginia Wong, all from New York City, contributed this article on the increasing usage of the P3 model in U.S. infrastructure projects.

Podcast: The art of the P3

The Bond Buyer | June 22, 2018

New York City public finance and project finance partner Roddy Devlin is a guest on the Bond Buyer podcast and shares his experience in public-private partnerships, infrastructure and design build; and discusses Nixon Peabody’s strength in the growing P3 sector.

Treasury IRS propose rules to facilitate investment in bond-financed infrastructure

Bond Buyer | June 12, 2018

Washington, DC, project finance and public finance partner Mitch Rapaport is quoted in this article on a move by the Treasury Department and IRA to clarify rules governing “the use of tax-exempt bonds in connection with public-private partnership projects.”

Nixon Peabody scoops up P3, project finance pro in NY

Law360 | May 25, 2018

Media coverage of the arrival of New York City public finance and project finance partner Roderick “Roddy” Devlin continues with this profile in Law360, which highlights some of Roddy’s largest recent deals, including the $4 billion public-private partnership to upgrade New York’s LaGuardia Airport.

Nixon Peabody beefs up NY real estate group with new partner, new practice

American Lawyer | May 24, 2018

Affordable housing and real estate partner Erica Buckley and project finance and public finance partner Roddy Devlin are both quoted in this article announcing an expansion of our real estate practice in New York City.

I-66—Largest greenfield U.S. toll road

Project Finance International | December 19, 2017

Nixon Peabody is mentioned in this article for serving as bond counsel to the private activity bonds issued by the Virginia Small Business Financing Authority.

Engie sparks off-grid light-bulb

Project Finance International | November 01, 2017

In an article on the expansion of off-grid solar power companies in Africa, Nixon Peabody is mentioned for advising PEG Africa in its $13.5M multi-currency syndicated loan.

Why Dealers are Struggling with Proposed Markup Disclosure

The Bond Buyer | September 23, 2016

Los Angeles public finance partner Rudy Salo is quoted in this feature story discussing the struggle facing dealers as they try to comply with the Municipal Securities Rulemaking Board's proposed markup disclosure requirements.

Contacts

Richard M. Cogen

Partner
Co-leader, Energy and Infrastructure Projects Team

rcogen@nixonpeabody.com

Phone: 212-493-6639

Ellen S. Friedman

Partner
Co-leader, Energy and Infrastructure Projects Team

efriedman@nixonpeabody.com

Phone: 212-940-3053

Scott R. Singer

Partner

ssinger@nixonpeabody.com

Phone: 212-940-3182

  • Recognized by U.S. News-Best Lawyers 2018 as a national Tier 1 leader for Public Finance Law
  • Consistently ranked by Thomson Reuters among the top bond counsel and underwriter’s counsel in the country, and among the most active disclosure and special tax counsel
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