FOR IMMEDIATE RELEASE
LOS ANGELES, October 25, 2012 – In a key financing in the renewable energy sector, Milbank, Tweed, Hadley & McCloy LLP has represented an international group of lenders in providing financing to build the Ocotillo wind farm located in Southern California.
The 265-megawatt project is being developed by Ocotillo Express LLC, an affiliate of Pattern Energy Group LP. It will be located on a large parcel of federal land (more than 12,400 acres) just west of the town of Ocotillo, CA in western Imperial County. When completed early next year, the Ocotillo wind farm, powered by 112 Siemens-built turbines, is expected to generate enough electricity to power some 94,500 homes serviced by San Diego’s utility company, San Diego Gas & Electric.
Milbank advised a distinguished lender group composed of: Deutsche Bank, Royal Bank of Canada, KeyBank, Royal Bank of Scotland, Société Générale, Norddeutsche Landesbank and North American Development Bank.
Milbank Project Finance partner Allan Marks led the financing for the lenders, along with: Real Estate partner David Lamb; Tax partner Mark Regante; Litigation partner Robert Liubicic; Tax of counsel Leah Karlov; and associates Laurae Rossi, Marco McClees and Deana Brown, along with Environmental of counsel Matt Ahrens; Real Estate of counsel Bruce Gardner; associates Randy Clark, Aluyah Imoisili, Meghan Gabriel, Melissa Galicia, Brian Lee, Jon Reiter and Delilah Vinzon; and energy regulatory specialist James Liles.
“The group of top-tier public and private lenders that came together for this financing illustrates the continued attractiveness of high-quality renewable energy projects,” Mr. Marks said. “We’re very pleased to have worked with this group of lenders and with Pattern Energy in structuring and closing the financing for the Ocotillo wind project. Projects like the Ocotillo wind farm are being designed to deliver clean, reliable energy to meet state and national goals for renewable power.”
Milbank has represented lenders, sponsors, investors and other stakeholders in large-scale renewable power projects worldwide, including major projects involving wind, solar, biomass, geothermal and hydroelectric power. Mr. Marks and others have worked on large wind farm financings in North America, Latin America, Europe and Asia.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm 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, São Paulo, 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.
