Milbank Named Best North American Law Firm for Renewables by Environmental Finance and Carbon Finance Magazines
Second Consecutive Year Milbank Recognized in Tenth Annual Market Survey
NEW YORK, December 18, 2009 – The international law firm Milbank, Tweed, Hadley & McCloy LLP was again named “Best Law Firm-North America for Renewables” in the tenth annual market survey conducted by Environmental Finance and Carbon Finance magazines – the leading international publications covering environmental markets, investment and risk management. Milbank was recognized for its expertise and innovation in renewable energy financing by more than 1,500 votes received from readers and others active in environmental trading and finance, making the survey one of the largest and most closely watched in the growing environmental finance markets.
“We are pleased to be acknowledged as a leader in renewable energy,” said Ed Feo, co-chair of Milbank’s Global Project Finance Group. “It’s gratifying to receive such a strong endorsement by survey participants for our skills in structuring and closing deals, especially in such a challenging market environment.”
Milbank spearheaded a number of significant renewable energy financing deals in the past year, including:
- In the biggest solar energy financing deal of the year, Milbank represented SunPower Corp., a pioneer in the use of solar power purchase agreements, in partnership with Wells Fargo to fund up to $100 million in SunPower commercial-scale solar systems. The Firm also represented SunPower Corp. in the development and sale of solar energy projects at sites owned or leased by Wal-Mart, JC Penney and others.
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Milbank represented California Bioenergy in the first sale of greenhouse gas emission (GHG) reductions from its livestock methane capture project to Pacific Gas and Electric Company’s ClimateSmartTM Program. The California Bioenergy project will help combat climate change by yielding 75,000 metric tons of GHG emission reductions.
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The Firm represented Arcadia Windpower, Ltd. in closing the sale of all subsidiaries of Bluewater Wind, LLC, a pioneer in the development of offshore wind projects in the United States, to NRG Energy. Bluewater Wind portfolio includes a range of offshore wind projects in other northeastern states that are in earlier stages of planning and development.
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Milbank represented the lead arrangers in connection with a $240 million financing for Terra-Gen Finance Company, LLC, a wholly-owned affiliate of ArcLight Capital Partners. Terra-Gen is the holding company for a portfolio of 831 megawatts of renewable generating assets in the western United States.
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Milbank represented Société Générale, Union Bank, N.A., WestLB, AG, New York Branch, Calyon New York Branch, Natixis, New York Branch and Landesbank Baden-Württemberg, New York Branch in the construction and term financing of the 101.2 MW Hatchet Ridge wind energy project in California developed by a subsidiary of Pattern Energy.
The firm’s Global Power, Energy & Utilities practice consistently receives the highest industry accolades, including: Chambers and Partners 2009—Milbank was ranked #1 in "Renewables & Alternative Energy" globally, as well as first in "Projects & Energy" nationally.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm which has been providing innovative legal solutions to clients throughout the world for more than 140 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Singapore, Tokyo and Washington, DC.
The Firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of our clients by offering a highly integrated and collaborative range of services across key practice groups throughout our global network. Milbank’s integrated practice is underpinned by our attorneys’ acknowledged technical excellence, sectoral expertise and a strong tradition of innovation and client service.