Energy Investor Funds Acquires Tenaska Washington Partners 270 MW Power Plant
Milbank Handles Equity Acquisition of Ferndale, Washington Facility EIF Subsidiary United States Power Fund II
LOS ANGELES, April 17, 2006 - Continuing a succession of power generation acquisition, the international law firm Milbank, Tweed, Hadley & McCloy LLP announced today that it represented a subsidiary of Energy Investor Funds in its equity acquisition of a management stake in Tenaska Washington Partners, L.P., owner of a 270 MW dual-fueled combined cycle power plant near Ferndale, Washington. The facility sells its electrical capacity and energy to Puget Sound Energy, and its steam to an adjacent ConocoPhilips refinery.
Edwin F. Feo, co-chair of Milbank’s Global Project Finance Department, led the Milbank team and said, “We will see more transactions such as this as generation assets continue to change hands. This transaction also reflects savvy investors’ search for viable energy investments.” The Milbank team also included associate Tiffany Siart (Los Angeles) and Regulatory Advisor Jim Liles (Washington, D.C.).
Milbank’s Global Project Finance Group includes 19 partners and more than 80 lawyers actively involved in the financing of infrastructure projects in the United States, Latin America, Europe, the Middle East, Africa and Asia. In the past several years, the group has closed more than 140 project financings, valued in excess of $85 billion, and in a range of industries, including electric power, water, mining and metals, petroleum and natural gas, petrochemicals, aerospace, environmental, telecommunications and satellites, timber and paper processing, pipelines, toll roads and airports.
Peer recognition includes:
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Euromoney’s Project Finance
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North America Infrastructure Deal of the Year – Neptune
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North America Oil & Gas Deal of the Year – Sabine Pass
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North America Single Asset Deal of the Year – La Paloma
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North America Merchant Deal of the Year – Boston Gen
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North America Bond Deal of the Year – Skyway Refinancing
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North America Refinancing Deal of the Year – Crockett
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Latin America Mining Deal of the Year – Cerro Verde
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EMEA Petrochemicals Deal of the Year – Qatofin
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Asia Pacific Acquisition Financing Deal of the Year – CBK
Milbank, Tweed, Hadley & McCloy LLP is a preeminent global law firm that is recognized for more than 140-years for providing innovative legal solutions in many of the world’s largest, most complex, “first-ever” corporate transactions, including capital markets, corporate finance, project finance, acquisition finance, and other major fields of law practice. Milbank clients range from prominent multinational financial, industrial and commercial enterprises to governments, institutions and individuals. The Firm is headquartered in New York, with offices in Washington, DC, Los Angeles, London, Frankfurt, Munich, Tokyo, Hong Kong and Singapore.