Project Finance

  • January 30, 2015

    Full DC Circ. Won’t Reconsider Hydro Plant License Renewal

    The D.C. Circuit on Friday denied a request by an association of Alabama landowners to rehear en banc their opposition to the Federal Energy Regulatory Commission's relicensing of a Southern Co. unit's hydroelectric plant, ruling they waited too long to file their petition with the appeals court.

  • January 30, 2015

    Alaska High Court Explains Mining Ballot Decision

    Seven months after upholding a ballot initiative that created a new hurdle for a controversial copper mining project, the Alaska Supreme Court on Friday detailed the reasoning behind its decision, saying the measure doesn’t intrude on the Legislature’s control over state resources.

  • January 30, 2015

    Obama Keystone XL Stance Unlikely To Impact Other Projects

    While President Barack Obama will likely veto a congressional bill authorizing TransCanada Corp.'s long-delayed Keystone XL crude oil pipeline, experts say his opposition to the controversial project shouldn't affect the viability of other planned oil and gas projects.

  • January 30, 2015

    Renewable Energy MLP Sol-Wind Sets Terms For $183M IPO

    New York-based master limited partnership Sol-Wind Renewable Power LP said Thursday it is eyeing an up-to-$182.7 million initial public offering as it looks to capitalize on the growing renewable energy industry, part of a string of MLPs that have tapped the public markets over the past year.

  • January 30, 2015

    NJ Officials Vow To Fight Obama's Atlantic Drilling Plans

    A contingent of New Jersey federal and local officials have vowed to fight President Barack Obama’s proposal to open up portions of the Atlantic coast to offshore drilling in 2017, the state's senators confirmed on Friday.

  • January 30, 2015

    Keells Pushes $850M Sri Lanka Resort Despite Casino Ban

    Conglomerate John Keells PLC said Friday it would continue with a Sri Lankan waterfront project estimated at $850 million even without a casino — now that the new government is blocking such gambling venues — saying its multifaceted development retains broad appeal.

  • January 30, 2015

    India Sells 10% Stake Of Coal India Ltd. For $3.6 Billion

    India's government launched a sell-off of 10 percent of Coal India Ltd., the world's largest coal producer, raising $3.6 billion on Friday, amid labor protests opposed to the move, according to filings with the Indian exchange.

  • January 30, 2015

    Challenge To Tenn. Mine Wastewater Runoff Gets Go-Ahead

    A trimmed suit by environmental groups against several Department of Interior agencies over protections against harmful wastewater runoff from a pair of mines can go forward, a Tennessee federal district judge said.

  • January 30, 2015

    BofA, JPMorgan Sink $222M Into Texas Wind Farm

    General Electric Co. and German power and gas giant E.ON SE said Thursday that they had secured about $222 million in tax equity financing from Bank of America Merrill Lynch and JPM Capital Corp. in return for an interest in a 211-megawatt wind farm in the Texas Panhandle.

  • January 30, 2015

    Shell To Move Forward With $1B Oil Drilling In Alaska

    The CEO of Royal Dutch Shell PLC told an audience in London on Thursday that the company plans to begin drilling for oil off the coast of Alaska this upcoming year, a project that could cost more than $1 billion.

  • January 30, 2015

    DLA Piper Bolsters Singapore Outpost With M&A, Energy Pros

    DLA Piper bolstered its Singapore office with a trio of attorneys from Gibson Dunn and Jones Day specializing in capital markets, mergers and acquisitions, energy and project finance, the firm announced.

  • January 29, 2015

    6th Circ. Permit Shield Ruling Benefits Industries Beyond Coal

    The Sixth Circuit’s Tuesday ruling that a coal mining company’s general discharge permit shields it from litigation over alleged selenium pollution provides a precedent that is expected to benefit a variety of other industries including construction and agriculture, but environmentalists say it won’t stop them from pursuing similar suits.

  • January 29, 2015

    Reps. Introduce Bill To Make EB-5 Visa Program Permanent

    Two U.S. congressmen introduced legislation on Wednesday that would make permanent the EB-5 immigrant investor visa program, which is highly popular in the real estate development world but slated to expire this fall.

  • January 29, 2015

    Texas Bill Could Open EFH Unit’s Assets To Other Generators

    A Texas state lawmaker on Wednesday filed a new bill that could clear the way for power generators to buy a subsidiary of bankrupt Energy Future Holdings Corp., by lifting a 20 percent cap on how much power generators can own on Texas’ electrical grid.

  • January 29, 2015

    Sidley Austin Adds Ex-Cadwalader Atty In Houston

    Sidley Austin LLP continued to build upon its growing Houston office by adding former Cadwalader Wickersham & Taft LLP partner Robert G. Stephens, who brings expertise in energy-related financings and transactions, the firm announced this week.

  • January 29, 2015

    Senate Approves Keystone XL Pipeline Bill

    The U.S. Senate on Thursday voted to approve TransCanada Corp.’s long-delayed Keystone XL pipeline, which would bring Canadian tar sands crude oil through the U.S., a project that has inflamed environmentalists and prompted a veto promise from President Barack Obama.

  • January 29, 2015

    Mass. Offshore Wind Lease Auction Yields Just $448K

    The U.S. Department of Interior on Thursday only reaped about $448,000 in high bids in its largest-ever offshore wind lease auction, covering less than half of the 742,000 acres of federal waters off the Massachusetts coast that were made available.

  • January 29, 2015

    Senate Panel Considers Easing LNG Export Rules

    The Senate Energy and Natural Resources Committee heard testimony Thursday on a bill streamlining liquefied natural gas export permits to countries without free trade agreements with the U.S., with industry groups split over concerns about potential spikes in domestic prices.

  • January 29, 2015

    Pa. Gov. Revives Gas Leasing Ban In State Parks

    Pennsylvania Gov. Tom Wolf on Thursday reinstated a moratorium on oil and gas drilling in state parks and forests, nixing an order enacted by his predecessor that overturned the ban on further oil and gas development and fulfilling a campaign promise.

  • January 29, 2015

    Sasol Holds Off On $14B Louisiana Gas-To-Liquids Plant

    South Africa-based Sasol Ltd. postponed its decision on investing in a Louisiana gas-to-liquids plant costing as much as $14 billion, saying on Wednesday that it was looking for ways to hold on to its cash amid a plunge in oil prices.

Expert Analysis

  • Growing Potential For P3 Infrastructure Development In Cuba

    Vincent J. Napoleon

    With Cuba’s dire need for modernized railway, roadways, water distribution systems and energy infrastructure, public-private partnerships may serve to infuse greater American capital and investment that could prove to be a win-win for both U.S. business and the Cuban economy, say Vincent Napoleon and Diana Vilmenay of Nixon Peabody LLP.

  • EU’s Russia Sanctions And Tips For The Year Ahead

    Tobias Caspary

    European Union sanctions on Russia are relatively specific — at least where they relate to the access restrictions to EU capital markets and the Russian energy sector. This means businesses have to consider very carefully whether their commercial operations, or specific transactions, are caught by these prohibitions, say Tobias Caspary and Till Vere-Hodge of Fried Frank Harris Shriver & Jacobson LLP.

  • Key Questions When Selecting E-Discovery Vendors

    David Houlihan

    While e-discovery remains a critical pain point in litigation, the "solutions" supporting its processes continue to evolve. In order to help organizations navigate the sea of options, we conducted research with 21 organizations across e-discovery market segments to understand the factors involved in successful e-discovery investments, says David Houlihan of Blue Hill Research Inc.

  • New Coal Ash Standard May Reignite Tax-Exempt Bond Market

    Mary Nash Rusher

    The Environmental Protection Agency’s recent determination that coal ash is solid waste could have a material impact on capital expenditures relating to coal ash. Coal plant owners should be aware that the final rule provides certain financing benefits by clarifying the ability to finance certain facilities with tax-exempt bonds, say Mary Nash Rusher and S. Christina Kwon of Hunton & Williams LLP.

  • China's Draft Foreign Investment Guidance Is Encouraging

    Woon-Wah Siu

    The draft of China's new Foreign Investment Guidance Catalogue lifts restrictions on foreign investment in dozens of service and general manufacture industries and would relax Chinese ownership requirements. Although foreign investors still would have to operate in some of these industries through Sino-foreign joint ventures, control by the Chinese partners would no longer be required, say Woon-Wah Siu and Liang Tao of Pillsbury Wi... (continued)

  • A Data Security Checklist For Companies Hiring Law Firms

    Jenn Topper

    We trust our law firms with huge amounts of data, whether in or out of discovery, investigations or litigation. All too often, we have relied on privilege, confidentiality and attorney ethics as a proxy for data protection and information security. But in fact, law firms ought to be held to a much more stringent standard — and in-house counsel would be wise to begin with a number of specific inquiries, says legal industry consultan... (continued)

  • Unique Challenges In The Panama Canal Expansion

    Jerry P. Brodsky

    Construction halt and war between the owner and contractor are two of the most undesirable situations that can occur on any project, let alone one of the largest and most complex projects in the world. Regarding what went wrong in Panama, we do not have all the answers yet, but we do have some educated ideas, says Jerry Brodsky of Peckar & Abramson PC.

  • EPA Methane Strategy May Sit On Policy Back Burner

    Cynthia AM Stroman

    While it remains to be seen whether Congress will act to disapprove the U.S. Environmental Protection Agency's methane emissions reduction strategy, at a surficial level, its limitation to “new” sources might place it lower on Capitol Hill’s priority list, says Cynthia Stroman of King & Spalding LLP.

  • Your Energy Tax Credit May Not Be Safe

    Jennifer A. Ray

    W.E. Partners II LLC v. U.S. is highly relevant to taxpayers planning to use the Section 48 investment tax credit to finance certain kinds of energy property. It is possible that the IRS will use this case to argue that, for example, the credit is not available for all of the costs of building an open-loop biomass cogeneration facility, say Jennifer Ray and David Blair of Crowell & Moring LLP.

  • Fracking Bans May Trigger Civil Authority Coverage After All

    Walter J. Andrews

    A recent Law360 guest article suggests a number of reasons why civil authority coverage will not be implicated by local fracking bans. The article does not, however, fully address three important issues that will impact the question of whether civil authority coverage is, in fact, triggered, say attorneys with Hunton & Williams LLP.