24 August 2016
International law firm Watson Farley & Williams (“WFW“) is delighted to have successfully advised Copenhagen Infrastructure Partners (“CIP”) on the acquisition, on behalf of its Copenhagen Infrastructure II fund, of two onshore wind projects in Texas from Tri Global Energy. The acquisition is CIP’s first foray into the US renewables sector.
The two projects, Bearkat Renewable Energy Project, LLC (366 MW) and Blue Cloud Renewable Energy Project, LLC (150 MW), are located in Glasscock and Bailey and Lamb counties, Texas, respectively. Tri Global Energy will continue to assist in the development of the projects, which are planned to be fully operational before 2018 and qualify for 100% Production Tax Credits.
Copenhagen Infrastructure II already owns stakes in two offshore wind farms – the 588MW Beatrice in the UK and the 402 MW Veja Mate in Germany – as well as in six onshore UK wind farms acquired from Falck Renewables.
The transatlantic WFW team advising CIP was led by London partner and Global Energy & Infrastructure Sector Head Evan Stergoulis, assisted by senior associate Emmanuel Ninos.
In New York, the team consisted of partners Steven Hollander (corporate), Jeffrey Lampiasi (real estate), Daniel Pilarski (tax) and Stephen Millman (tax), assisted by senior associate Susanne Burstein (asset finance) and associates Kathleen Udo (real estate), Joice Varughese (finance), Amy Festante (real estate), Jeff Karas (real estate), Stephanie Edelstein (real estate), Matthew Goldgrub (real estate), Daniel Berger (corporate), Sarah Roe (dispute resolution) and Arila Zhou (corporate).
Evan commented: “I’m delighted to have advised CIP on a matter as exciting as their first venture into the US renewables sector. That they chose to turn to WFW for assistance on such an important acquisition, clearly demonstrates the firm’s standing as the go-to law firm in the renewables space”.