Further solidifying its position as the leading energy and infrastructure advisor globally, Milbank LLP received seven “Deal of the Year” awards and was named the “North America Legal Advisor of the Year” and the “Latin America Legal Advisor of the Year” at the Proximo Americas Awards on March 30, 2021. The awards were held virtually and were Proximo’s second-ever “Digital Oscars of the Industry Awards Ceremony.”
The Proximo Americas Deal of the Year Awards recognize notable transactions across the region in the infrastructure and energy sectors. Winners are selected based on input from the publication and peer firms across various sectors and regions. Project Finance International also recently honored the firm for its role in six project finance transactions across the Americas, Asia and Europe, including in renewables, power generation and infrastructure this past year.
Dan Bartfeld, practice group leader of the firm’s Global Project, Energy and Infrastructure Finance Group, noted: “It is a true testament to the strength and depth of our team to be honored by Proximo as the leading legal advisor in both North America and Latin America, as well as lead counsel on seven ‘Deal of the Year’ transactions. We are very appreciative that our clients turn to us to advise on a wide range of significant, first-of-their-kind and complex matters, including M&A, project development and financing. We look forward to continuing our commitment to our clients and to the development of energy and infrastructure projects worldwide.”
Milbank transactions were honored in the following categories:
- North America Single Asset Power Deal of the Year – CPV Three Rivers: Milbank represented the financing parties in the $875 million financing of the CPV Three Rivers Energy Center, a gas-fired combined cycle power generation facility in northeastern Illinois, located in PJM. The transaction featured a bank tranche, fixed-rate tranche and a 4(a)(2) private placement tranche.
- North America Portfolio Power Deal of the Year – Clearway Solar Triple: Milbank represented the sole lead arranger in connection with the three solar facilities (Alpine, Blythe & Roadrunner) owned by subsidiaries of Clearway Energy, Inc.
- North America Oil & Gas Deal of the Year – Whistler Gas Pipeline: Milbank represented the lenders and investors in connection with the $1.754 billion hybrid bank-bond financing for the Whistler Pipeline, a 446-mile natural gas pipeline in Texas.
- North America Wind Deal of the Year – Western Spirit Portfolio: Milbank advised the tax equity investors in connection with the $1.76 billion financing for the Western Spirit wind and portfolio project in New Mexico.
- Latin America Conventional Power Deal of the Year – Glenfarne/EnfraGen’s Debt and Bond Financing: Milbank advised the initial purchasers and lenders in connection with a bank/bond financing by EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U., valued at $1.76 billion.
- Latin America Mixed Renewables Deal of the Year – Mainstream’s Huemul Renewable Portfolio: Milbank advised Mainstream Renewable Power Ltd. and its subsidiaries in the project financing of the 630MW Huemul portfolio, which is comprised of three onshore wind and two solar PV generation assets. Together, this portfolio and the 571MW Cóndor portfolio – which Milbank advised Mainstream on the closing of in November 2019 – comprise Mainstream’s “Andes Renovables” power generation platform in Chile, which totals $1.25 billion, 1.3GW of solar and wind assets.
- Latin America Portfolio Deal of the Year – Ardian/SolarPack Peruvian Solar Refinancings: Milbank represented the lenders $225 million refinancing of the Moquegua, Panamericana Solar and Tacna Solar photovoltaic projects, located in Peru and sponsored by Solarpack and Ardian.
Milbank has one of the largest project, energy and infrastructure groups in the world with over 125 dedicated lawyers in its offices in the Americas, Europe and Asia. In the past five years, the firm has acted as the lead legal advisor in a wide variety of power, energy, oil/gas, natural resources and other infrastructure projects worldwide that mobilized hundreds of billions of dollars of capital. Milbank was also recognized at the Proximo Americas ceremony in 2020.