Project Finance

  • December 19, 2014

    Retiring Pa. Chief Justice Pegs Legacy On Fracking Decision

    As he prepares to leave the bench at the end of the year, the retiring chief justice of the Pennsylvania Supreme Court told Law360 in an interview that his legacy would live on through a 2013 ruling finding that statewide hydraulic fracturing rules violated constitutionally enshrined environmental protections.

  • December 19, 2014

    FERC Approves $607M Leidy Gas Pipeline Project

    Natural gas pipeline group Transcontinental Gas Pipe Line Co. LLC won approval from the Federal Energy Regulatory Commission on Thursday to build its 30-mile Leidy Southeast pipeline expansion project and to abandon a compressor engine in Pennsylvania.

  • December 19, 2014

    DOE Needs Land, Water Rights For Nev. Nuke Waste Storage

    The U.S. Department of Energy must acquire land and water rights around Yucca Mountain in the Nevada desert before it can seek to use the site to store the country's radioactive waste, according to a Thursday report by the Nuclear Regulatory Commission, which was reviewing the DOE's application.

  • December 19, 2014

    Project Finance MVP: Shearman's Cynthia Urda Kassis

    Seasoned dealmaker Cynthia Urda Kassis embraced improved lending conditions to advise multibillion-dollar mining projects across the Americas in 2014, while also adding to her resume several lucrative deals emerging from a robust energy sector, earning the Shearman & Sterling LLP partner a spot on Law360’s Project Finance MVPs.

  • December 19, 2014

    JPMorgan, Solar Co. Team Up On Solar Project Venture

    Institutional investors advised by JPMorgan Chase & Co.'s asset management arm are teaming with solar power producer Sonnedix on a joint venture to develop and operate more than €300 million ($367 million) worth of solar projects around the world, the companies announced Friday.

  • December 19, 2014

    EPA Will Treat Coal Ash As Solid Waste In Win For Industry

    The U.S. Environmental Protection Agency said Friday it will regulate coal ash as solid waste rather than the more strictly controlled hazardous waste, a victory for the power industry that frequently recycles the byproduct for building and agricultural uses.

  • December 19, 2014

    BASF, Gazprom Ditch Asset Swap Amid Sour EU-Russia Ties

    Strained relations between Russia and Europe ramped up their toll late on Thursday when Germany's BASF SE, the world's biggest chemical maker, said it had scrapped a plan to swap certain natural gas assets with Russian energy giant Gazprom OAO.

  • December 19, 2014

    FERC Backs Interregional Transmission Plans With Caveats

    The Federal Energy Regulatory Commission on Thursday issued its first rulings on whether interregional transmission plans submitted by regional grid operators comply with its transmission planning rule Order No. 1,000, giving a thumbs-up to plans submitted by grid operators in California, the Midwest and Mid-Atlantic.

  • December 18, 2014

    Industry May Let Landowners Lead NY Fracking Ban Fight

    New York landowners blocked from cashing in on the natural gas boom by the state's just-announced fracking ban may fight back in court, but experts say energy companies are unlikely to spend their money and time challenging the state when they've already lost their investments there.

  • December 18, 2014

    Australia's NSW To Raise $16.3B For Roads Via Power Lease

    Australia’s New South Wales government said Thursday that it plans to lease nearly half its electricity network to raise AU$20 billion ($16.3 billion) to pay for upgrades to roads, rail and related projects across the state, pending election results.

  • December 18, 2014

    LCRA Settles Power Supply Suits With Texas Cities

    The Lower Colorado River Authority and GenTex Power Corporation have reached an agreement to settle their dispute with two Texas cities, ending controversial litigation that promised to have a significant impact on governmental immunity throughout the state.

  • December 18, 2014

    Texas Lawmaker Aims To Block City Fracking Bans

    Texas Rep. Phil King, R-Weatherford, introduced two bills Thursday aimed at blocking cities from limiting oil and gas drilling, including a measure that would require the state attorney general's approval before cities could allow local votes on fracking bans.

  • December 18, 2014

    Md. Official To Lead DOI's Offshore Energy Leasing Agency

    The U.S. Department of the Interior has named a new chief for its offshore energy leasing program, appointing a Maryland official as the new director for its Bureau of Ocean Energy Management, it announced Thursday.

  • December 18, 2014

    Fla. Agency OKs FPL Investment In Okla. Gas Project

    Florida's Public Service Commission on Thursday signed off on NextEra Energy Inc. unit Florida Power & Light Co.'s controversial plan to invest in a natural gas fracking project in Oklahoma through a partnership with PetroQuest Energy Inc. that projects net savings for customers of $52 million.

  • December 18, 2014

    Capital Dynamics Closes $462.5M Clean Energy Fund

    Swiss asset manager Capital Dynamics said Thursday it raised $462.5 million for a fund that will invest in renewable energies, bringing total fundraising for its clean energy platform to $1 billion.

  • December 18, 2014

    Riverstone Plugs An Extra $150M Into Castex Energy

    Private equity firm Riverstone Holdings LLC said Thursday that it will boost its investment in Southern U.S.-based Castex Energy Inc. by about $150 million, a few months after putting $200 million into a new Castex oil exploration vehicle in the Gulf of Mexico.

  • December 18, 2014

    Natural Gas MLP Regency Energy Eyes $1B Public Offering

    Texas-based Regency Energy Partners LP launched plans on Thursday for a $1 billion follow-on offering, as a busy year in new projects and acquisitions by the natural gas master limited partnership comes to a close, according to a regulatory filing.

  • December 18, 2014

    Wash. Gov. Floats Cap-And-Trade Program

    Washington Gov. Jay Inslee on Wednesday proposed a new carbon cap-and-trade program intended to help the state meet pollution limits set by the Legislature and that he said could raise $1 billion in the first year from major emitters.

  • December 18, 2014

    Yieldcos Grabbed Energy Project Finance Spotlight In 2014

    Investors were eager to sink their cash into energy development in 2014, most notably helping renewable-heavy yieldcos become major deal makers, but also helping get multibillion-dollar liquefied natural gas projects off the ground. Here, attorneys reveal the trends they observed in energy project finance over the past year.

  • December 18, 2014

    Vale Stuck Facing Trial In US Over Guinea Mining Rights

    A federal judge in New York on Wednesday refused to throw out a suit brought by London mining company Rio Tinto PLC accusing its rival Vale SA and an Israeli diamond magnate of bribing Guinean government officials to steal Rio Tinto's rights to a multibillion dollar untapped iron-ore deposit.

Expert Analysis

  • NY's Fracking Ban: Politics Under The Veil Of 'Science'

    Yvonne Hennessey

    The losers from New York Gov. Andrew Cuomo's recent decision to ban hydraulic fracturing are countless in the state's Southern Tier

  • What Happens When Legal Aid Cuts Stimulate Pro Bono?

    Kevin J. Curnin

    The bad news coming out of the European Pro Bono Summit in November was the rising toll of heavy cuts to public legal aid in England. From this crossroad, there is a lot to be learned about the relationship between public and private assistance, the direction of legal help for the poor in the EU, and whether the American legal aid/pro bono experience offers a road map for what’s next in Europe, says Kevin Curnin of the Association ... (continued)

  • 3 Questions To Ask Yourself Before Hiring Appellate Counsel

    David Axelrad

    In the classic case, a client and his attorney seek appellate counsel after the trial court proceedings are concluded. But these days, “classic cases” are few and far between — more and more, appellate lawyers assist in the trial court with preservation of the appellate record and compliance with the many technical rules of appellate procedure, says David Axelrad of Horvitz & Levy LLP.

  • 4 Antitrust Tips For Bidding On Land For O&G Production

    Joshua Stokes

    When prospective participants in a new oil and gas play are not already involved in well-designed and structured joint ventures, new opportunities can create potential antitrust liability for developers who may be tempted to share, or requested to share, commercially sensitive information with their competitors, say attorneys with Crowell & Moring LLP.

  • What Lawyer-Novelists Learned From Being Lawyers

    Michael H. Rubin

    The consensus that emerged from my discussions with several lawyers who have become best-selling novelists is that the traits it takes to be a great lawyer are invaluable in crafting first-rate mysteries and thrillers. Both thriller authors and lawyers possess a concentrated attention to detail that allows them to create a logical framework for their story, brief or courtroom presentation, says Michael Rubin of McGlinchey Stafford PLLC.

  • Ralls May Give Foreign Investors More Leverage With CFIUS

    Stewart Baker

    The D.C. Circuit's opinion in Ralls Corp. v. Committee on Foreign Investment in the U.S. triggered a lot of commentary, much of which has focused on the constitutional due process headline regarding the presidential order. But another holding may be of more import — that Ralls can attack the validity of two orders issued by CFIUS prior to the presidential order, say Stewart Baker and Stephen Heifetz of Steptoe & Johnson LLP.

  • 2014 Fracking Year In Review: California Edition

    Jeffrey Dintzer

    2014 was another active year concerning hydraulic fracturing in California, with local lawmakers seeking to ban fracking and other well-stimulation techniques conducted by oil and gas operators and environmental groups challenging state regulatory agencies over such practices, say attorneys at Gibson Dunn & Crutcher LLP.

  • Do Fracking Bans Trigger Civil Authority Coverage?

    Micah Skidmore

    Civil authority coverage may be available in the context of municipal hydraulic fracturing bans, such as those recently passed in Texas and California, as the issue is judicially untested — depending on the specific terms of the policy and given the stated purpose of the ballot measure a fracking ban may trigger coverage in the commercial property policies of affected lessees, says Micah Skidmore of Haynes and Boone LLP.

  • Inside Supreme Court Oral Arguments In DOT Case

    Jerrold J. Ganzfried

    U.S. Department of Transportation v. Association of American Railroads concerns the limits of the nondelegation doctrine, which commands that Congress cannot cede its legislative powers to other entities, as well as a due process challenge. During oral arguments before the U.S. Supreme Court Monday, AAR’s due process claim received substantial attention from several of the justices, more attention than the parties devoted to it in ... (continued)

  • California Supreme Court Divided In Key CEQA Case

    Arthur F. Coon

    The California Supreme Court presided over a spirited oral argument session in Berkeley Hillside Preservation v. City of Berkeley — a California Environmental Quality Act case with far-reaching consequences for regulators, project developers and courts — and it appears that the high court justices are divided on details of the appropriate legal standards of review for exceptions to the CEQA’s categorical exemptions, says Arthur Coo... (continued)