Two Hogan Lovells’ Project Finance Transactions Win Deal of the Year in Their Sector
06 March 2012
NEW YORK, 6 March 2012 – Hogan Lovells announced today that two projects its lawyers advised on have been recognized by Project Finance magazine as Deals of the Year in the publication’s annual award series. The Desert Sunlight Solar Farm project was recognized as the North American Solar Deal of Year for 2011 and the Embraport financing was named the Latin American Transport Deal of the Year for 2011.
“The recognition of the Desert Sunlight Solar Farm project reflects Hogan Lovells’ leading capabilities in the renewable energy sector, and the Embraport financing speaks to our increasingly active role advising on projects in Latin America, specifically in Brazil,” said Benton Hammond, Co-Leader of Hogan Lovells' Finance Practice Group.
A multidisciplinary team of Hogan Lovells lawyers acted as legal counsel for NextEra Energy Resources, LLC, the competitive energy subsidiary of long-time client NextEra Energy, Inc., on its purchase of a substantial stake in the Desert Sunlight Solar Farm, a 550 MW solar power project near Desert Center, CA. The U.S. Department of Energy is partially guaranteeing $1.46 billion of loans provided by a syndicate of private institutional investors and commercial banks. The financing team was led by partners Edward Sledge (Baltimore) and Edith Webster (New York), and the acquisition, joint venture, and construction team was led by partners Tom Woolsey (Miami) and Jorge Diaz-Silveira (Miami). Partners Christine Pallares (New York) and Mary Anne Sullivan (Washington, D.C.) also played key roles.
Hogan Lovells partner Robert Ripin (New York) advised the security trustee, The Bank of New York Mellon, on the $786 million aggregate loan facilities established by Embraport Empresa Brasileira de Terminals Portuarios S.A. to construct and operate a new private mixed-use container and liquids terminal in Brazil's Port of Santos. Embraport previously was named the 2011 Transport Deal of the Year—Americas by Project Finance International.