Project Finance RSS

  • April 23, 2014

    Fla. Lawmakers Push MLB To Ease Rules For Cuban Players

    Spurred by the recently reported dangers Los Angeles Dodgers outfielder Yasiel Puig faced being smuggled out of Cuba, two Florida lawmakers on Wednesday launched a bid to push Major League Baseball to change its rules regarding Cuban players by attaching the issue to a stadium financing bill.

  • April 23, 2014

    Grid May Not Be Ready To Lose Coal, FERC Official Says

    Federal Energy Regulatory Commissioner Philip Moeller expressed concern on Wednesday that the electric grid doesn't have the infrastructure to replace retiring coal and nuclear plants, saying some U.S. regions could be subject to rolling blackouts due to energy deficits in the next few years.

  • April 23, 2014

    Planned $615M Gas Plant In W.Va. Moves Closer To Reality

    Buffalo-based Moundsville Power LLC on Tuesday got closer to building a $615 million combined cycle natural gas power plant near Moundsville, West Virginia, on the Ohio river, the company said.

  • April 23, 2014

    Google, SunPower Put Up $250M For Solar Lease Program

    Google Inc. and SunPower Corp. are investing as much as $250 million in a new program to finance residential solar lease projects, the companies announced Wednesday.

  • April 23, 2014

    Post Oak Energy Sinks $100M Into Texas Oil Co.

    Texas-based oil and gas company Crown Oil Partners V LP has received a $100 million equity commitment from Post Oak Energy Capital LP in a move intended to help further Crown Oil's development and growth, Post Oak said Wednesday.

  • April 23, 2014

    SunEdison Gets $104M To Fund Ontario Solar Plants

    Solar manufacturer SunEdison Inc. said Wednesday that it has received CA$115 million ($104 million) in financing from Deutsche Bank Securities Inc. to bankroll the construction of two solar plants in Ontario that will provide a combined 33 megawatts of electricity.

  • April 23, 2014

    Army Corps Delays Decision On Everglades Water Plan

    A U.S. Army Corps of Engineers review board on Tuesday postponed giving final approval on a $2 billion water restoration plan for the Central Florida Everglades, saying it needed more time to review the plan, potentially delaying by years implementation of the critical water project.

  • April 23, 2014

    Gibson Dunn, Simmons Rep Fajr Capital On $500M NPS Buy

    A consortium of investors led by Fajr Capital Ltd. has purchased National Petroleum Services for more than $500 million, the two sides said Wednesday, in a deal Fajr said marks the "largest private equity transaction in the MENA region" this year.

  • April 23, 2014

    Pa. Rep. Appeals After Corbett Denies Drilling Info Request

    A Democratic lawmaker in the Pennsylvania House of Representatives asked the state’s Office of Open Records on Tuesday to review a decision by Gov. Tom Corbett’s administration denying a formal request for information about plans to raise $75 million by leasing public parkland for oil and gas drilling.

  • April 23, 2014

    Andrews Kurth Guides Hilcorp In BP Alaska Oilfield Buy

    BP PLC said Tuesday that it's selling stakes in four oilfields it operates in Alaska's North Slope region to Houston-based Hilcorp Energy Co. in order to focus on developing its Prudhoe Bay operations and a massive liquefied natural gas pipeline project.

  • April 23, 2014

    Hess Reaps $1B From Thai Gas Project Sale

    Hess Corp. said Monday that it's unloading its stake in two gas projects in Thailand to Thai oil and gas development giant PTT Exploration and Production PLC for about $1 billion in cash, continuing its recent selling spree.

  • April 22, 2014

    NJ Ethics Agency Backs Pinelands Pipeline Voter's Recusal

    New Jersey’s ethics watchdog got behind a Pinelands Commission attorney on Tuesday, saying she rightly recommended that a commissioner abstain from voting on an agreement to greenlight a $90 million natural gas pipeline, which resulted in a deadlocked vote and the agreement's rejection.

  • April 22, 2014

    Fla. Senate Panel Passes Springs Bill, Drained Of Funding

    The Florida Senate Appropriations Committee on Tuesday advanced legislation to clean up the state's freshwater springs, a major recreational attraction and important connection to drinking water supplies, but not before largely gutting the once ambitious measure to the dismay of stakeholders.

  • April 22, 2014

    ETP Seeks $1B Judgment In Pipeline Partnership Fight

    Energy Transfer Partners LP on Monday asked a Texas state judge for a more than $1 billion judgment against Enterprise Products Partners LP after a jury found Enterprise breached a partnership agreement for a crude oil pipeline.

  • April 22, 2014

    The Accidental Advocate: Judge John E. Jones III

    Pennsylvania Middle District Judge John E. Jones III talks to Law360 about the surreal aftermath of his divisive ruling against intelligent design as he prepares for yet another potentially explosive trial over Pennsylvania's same-sex marriage ban.

  • April 22, 2014

    Uphold New Keystone Route, Neb. Officials Tell High Court

    Nebraska officials on Monday urged the state's top court to toss a lower court ruling that nixed Gov. Dave Heineman's approval of a new route for TransCanada Corp.'s controversial Keystone XL pipeline, saying it wrongly determined that the law giving him the power to do so was unconstitutional.

  • April 22, 2014

    Conn. Approves Wind Power Rules, Ending Moratorium

    Connecticut's Regulation Review Committee on Tuesday approved a set of guidelines for installing wind turbines in Connecticut, ending the one-and-a-half year moratorium on wind projects in the state.

  • April 22, 2014

    DOE Allots $34M To Keep USEC Uranium Project Afloat

    A uranium enrichment project in Piketon, Ohio, may continue through the end of September, running on $34.1 million from the U.S. Department of Energy as the parent company USEC Inc. undergoes Chapter 11 proceedings, according to a Friday motion in Delaware bankruptcy court.

  • April 22, 2014

    Pa. County Exec Floats $247M Capital Projects Funding Plan

    Allegheny County Executive Richard Fitzgerald on Monday proposed a bill to the Allegheny County Council to consider issuing up to $247 million in bonds to refinance debt and fund potential capital projects for bridges, roads and upgrades to the Pennsylvania county’s public transportation system.

  • April 22, 2014

    $1.6B Miami-Dade Sewer Deal Gets Green Light

    A Florida federal judge on Monday signed off on a revised consent decree for a $1.6 billion settlement resolving environmental violations at Miami-Dade County's sewer system after rejecting a previous agreement over concerns the county got off too easy for repeated incidents of failure to stem pollution of local waterways.

Expert Analysis

  • Why Fund Borrowers Must Consider Subscription Facilities

    Mary Touchstone

    Subscription facilities have become attractive financing opportunities for a wide range of funds throughout the private equity, real estate, energy, infrastructure and mezzanine debt space. With even the most basic subscription facility, a fund can borrow to “bridge” the time between the making of an investment or the payment of expenses and the calling of capital at a later date to repay the borrowing, say Mary Touchstone and Julia Kohen of Simpson Thacher & Bartlett LLP.

  • Mandatory Pro Bono Is Not The Answer For Practitioners

     Amanda D. Smith

    The State Bar of California has decided to follow New York's lead and require prospective attorneys to record 50 hours of pro bono service in order to be eligible for admission. While we applaud the intentions behind these initiatives, there are a number of reasons why state bars should limit any mandatory pro bono requirement to this context, rather than extend it to licensed attorneys as some have suggested, say attorneys with the Association of Pro Bono Counsel.

  • Earth Day And The Evolution Of Environmental Law

    Timothy J. Bergere

    Since 1970, environmental lawyers have been immersed in a myriad of federal, state and local environmental laws and regulations, beginning with the National Environmental Policy Act. As the movement has grown, Earth Day has become a placeholder for the idea that we can better manage our environment, and in the legal community, it reminds us that we must continue advancing the law with the goal of a cleaner environment in mind, says Timothy Bergere of Montgomery McCracken Walker Rhoads LLP.

  • Cross-Border Complexities: Keep The C-Suite Out Of Prison

    Shari L. Pire

    The potential for significant gains makes high-growth markets, such as Russia, Brazil and India, particularly enticing. But at what cost? Business practices that are both acceptable and customary in other countries may violate U.S. and other anti-bribery and corruption laws. However, there are ways to insulate the corporation from liability, says Shari Pire of Willkie Farr & Gallagher LLP.

  • The Future Of Law Firm PR: The Good, Bad And Ugly

    Paul Webb

    There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.

  • The 6 Most Important Changes To Russian Pledge Rules

    Alexey Kukharev

    Among the most significant changes being made to the Russian Civil Code is the introduction of the security trustee concept, which will strengthen syndicated lending and asset-backed security structures involving Russian collateral, and will bring the Russian legal system into harmony with the most developed legal systems in the world in this area, says Alexey Kukharev of Orrick Herrington & Sutcliffe LLP.

  • Beware 'Jewel' Risks In Lateral Partner Hiring

    Pamela Phillips

    Jewel litigation has been filed after every major law firm bankruptcy in the past 10 years, including Lyon & Lyon, Brobeck, Coudert, Thelen, Heller and Howrey. These lawsuits have produced years of litigation, with similar suits expected in the Dewey bankruptcy. Despite the legal uncertainties surrounding such claims, hiring firms can take steps now to minimize their Jewel risk for any lateral hire, say attorneys with Arnold & Porter LLP.

  • Calif.'s Small Step Toward 'Redevelopment 2.0'?

    Laurie N. Gustafson

    More than two years after Gov. Jerry Brown and the California Legislature dissolved the state's 400-plus redevelopment agencies, the governor has begun addressing their replacement by proposing to revise and expand the use of infrastructure financing districts. The proposal, however, appears to be only a small step toward “Redevelopment 2.0,” with many expressing concerns that the new tax-increment financing tools may not be as effective as redevelopment, says Laurie Gustafson of Sedgwick LLP.

  • Heartbleed Rains On The Legal Cloud Parade

    David Houlihan

    While the actual breaches are unknown, Heartbleed has the potential to expose all of a lawyer's files stored or transmitted online. The bug raises professional responsibility questions and offers confirmation of the greatest anxieties that the legal industry has about online practice. In fact, the timing is poor for many legal tech providers, following a general industry warming to cloud offerings, says David Houlihan of Blue Hill Research Inc.

  • DC Court Applies Common-Sense Limits To Davis-Bacon Act

    Eric Leonard

    A D.C. federal court recently rejected the U.S. Department of Labor's novel application of the Davis-Bacon Act to a privately funded construction project. The ruling sets an important limitation as government agencies become increasingly creative in putting surplus real estate to use and private companies similarly look for more creative infill development opportunities, say Eric Leonard and Craig Smith of Wiley Rein LLP