Infrastructure Development and Investment and Mergers & Acquisitions

As a firm with national practices in the areas of energy law and institutional investing, Day Pitney has wide-ranging experience in infrastructure development and investment. Our extensive experience in the area includes representation of developers, contractors, power purchasers, equity investors and lenders. We have been involved with projects utilizing a wide variety of energy production technologies, from the more traditional fossil fuel projects to hydroelectric, wood, coal, nuclear, solar, solid waste, geothermal and wind-powered facilities, as well as with a variety of water treatment and distribution facilities. These projects are located throughout the United States, including Alaska and Hawaii, and around the globe, including Europe, Asia, Latin America and the Middle East.

The firm has assisted developers in structuring and organizing entities to own and operate their projects, in dealing with various federal and state regulatory and tax strategies, and in obtaining and negotiating the terms of financing. We have assisted both developers and major contractors in the negotiation and drafting of facility leases; power and renewable energy credit sales; fuel supply; engineering, procurement and construction; operation and maintenance; water sales; and other contracts. We also have counseled clients concerning bankruptcies and workouts involving these projects.

We have been especially active in our representation of institutional investors providing both construction and long-term debt and equity financing for generating projects. We have been involved in the structuring of several transactions involving the financing of as many as 24 projects in a single transaction and have dealt with the complex issues arising from the cross-collateralization of several projects as part of a single security package. We have represented investors in traditional project finance structures as well as in leveraged and synthetic lease structures. We also represented the lenders in the first transaction to close under the Department of Energy's Section 1705 loan guarantee program. In addition, we have many years of experience representing both issuers and lenders in a variety of finance transactions involving other infrastructure assets. These include typical unsecured credit lines and mortgage bonds as well as more sophisticated transactions, such as nuclear fuel leasing facilities and tax-exempt industrial development bonds.

Our attorneys have extensive experience with corporate restructuring of utilities and other energy companies. We also have broad experience with the divestiture of diverse portfolios of generation assets (consisting of fossil, nuclear and hydro units) via auction and in obtaining the requisite Federal Energy Regulatory Commission (FERC) and state approvals for such sales. In addition, our attorneys have had intimate involvement in the Hart-Scott-Rodino review of utility mergers, purchases and sales.