Energy and Project Finance

Stroock represents buyers and sellers of electric generating facilities of all kinds located across the country. We represent clients in purchasing projects in construction, development and operation, including transactions with distressed power companies and entities in bankruptcy. Our attorneys have been at the center of many major deals, including representing KKR and Texas Pacific Group in connection with energy matters for the acquisition of TXU; Kelson Energy in its $1.7 billion refinancing of four project/energy facilities; four of the world’s largest private equity funds in their $3.65 billion acquisition of Texas Genco; Orion Power Holdings in its $3 billion acquisition of a power plant portfolio and its successful $3.5 billion merger with Reliant Energy; and Premcor Inc. in more than $3 billion of financings, as well as its $8.5 billion merger with Valero Energy Corp.

In the area of derivatives and commodities, our experience includes all contracts relating to  power generating facilities, including tolling, energy management, and fuel supply agreements, as well as the second and third lien hedging transactions that have become prevalent in the market.  Our lawyers also among the nation’s best when it comes to energy related trading agreements, such as the EEI, NASB and ISDA standard forms (as well as the issues involved with bankrupt or troubled counterparties).  Stroock’s Litigation Group has achieved national and international recognition on energy-related matters.