Project FinanceRSS

  • May 22, 2013

    FERC Nixes Permit For Tidal Energy Project On NJ River

    The Federal Energy Regulatory Commission on Monday denied a preliminary permit for a tidal energy project proposed for New Jersey’s Manasquan River, after ruling the applicant, Natural Currents Energy Services LLC, had failed to follow regulatory guidelines in its exploration of a prior, nearly identical project.

  • May 22, 2013

    House Votes To Let Keystone Proceed Without Obama's OK

    The U.S. House of Representatives on Wednesday passed by a 241-175-1 vote a bill that would allow the controversial Keystone XL pipeline to proceed without presidential approval, a day after President Barack Obama threatened to veto the measure if it passes Congress.

  • May 22, 2013

    Jordan Cove Wants $7.5B LNG Project Approved By FERC

    Jordan Cove Energy Project LP on Tuesday set the ball rolling on a request for approvals from the Federal Energy Regulatory Commission for its proposed $7.5 billion liquefied natural gas export facility in Oregon, which will link U.S. and Canadian markets to Asia-Pacific.

  • May 22, 2013

    Tycoon-Backed Co. Wins Royalty Fight Over $7B Aussie Mine

    A company backed by Australian tycoon Clive Palmer scored a victory Monday when Australia's state court ruled in its favor in a fight with CITIC Pacific Ltd.'s Sino Iron and Korean Steel over the timing of royalty payments tied to ore from a $7 billion mine.

  • May 22, 2013

    Miami-Dade OKs $1.6B In Sewer Improvements

    Miami-Dade County will spend $1.6 billion over the next 15 years to upgrade its aging, stressed sewer system under a settlement with federal and state environmental agencies approved by the county commissioners Tuesday.

  • May 22, 2013

    Mo. Lawmakers Urge Obama To Rethink Plant Emissions Rule

    A group of U.S. lawmakers from Missouri on Wednesday joined a chorus of legislators urging President Barack Obama to press the U.S. Environmental Protection Agency to amend its proposed rule capping greenhouse gas emissions for new power plants, saying it would effectively outlaw any new coal-fired plants.

  • May 22, 2013

    CityCenterDC Sues DOL Over Public Works Wage Order

    The owners of CityCenterDC, a massive development on the last empty tract of land in downtown Washington, D.C., sued the U.S. Department of Labor in federal court Tuesday over its decision to apply a public works wage requirement to the private project.

  • May 22, 2013

    LNG Export Project Could Pollute Water, Park Service Says

    The National Park Service on Wednesday expressed concerns about the potential environmental impact of a proposed eastern Georgia terminal for the overseas export of natural gas, saying the project could lead to increased water pollution and shoreline erosion and harm a protected national monument.

  • May 22, 2013

    EU Lawmakers Adopt New Offshore Drilling Rules

    In what they believe will help avoid a Deepwater Horizon-type disaster, European lawmakers on Tuesday approved offshore drilling regulations that would require producers to prove they have sufficient financial muscle to cover potential accidents and any resulting cleanup and liability before obtaining a drilling license.

  • May 22, 2013

    Brookfield Closes $163M Hostile Deal For Western Wind

    Canada's Brookfield Renewable Energy Partners LP acquired the last of Western Wind Energy Corp.'s stock on Tuesday, squeezing out the remaining minority holders and closing out a $163 million hostile takeover that began last summer.

  • May 22, 2013

    Fracking Foes Demand Vote On Moratorium In NY

    A broad coalition of New York anti-fracking voices pressured proponents of an expansion of the controversial method of gas drilling Wednesday by calling on the Republican-controlled state Senate to allow a bill that would impose a roughly two-year moratorium to come up for a vote.

  • May 22, 2013

    $18B Iraq Pipeline To Get Boost From Trade Bank

    The state-backed Trade Bank of Iraq is gearing up to invest in at least one leg of an $18 billion oil export pipeline network connecting to Jordan, according to a Wednesday report.

  • May 21, 2013

    Calif. Appeals Court Backs Plans For Desalination Plant

    A California appeals court on Tuesday overturned a lower court’s finding that the Marin Municipal Water District certified a substandard environmental impact report for its proposed seawater desalination plant, upending an initial win for an environmental group that had challenged the project.

  • May 21, 2013

    Texas Passes Water Finance Plan, But Still Needs $2B Funding

    The Texas Legislature on Monday signed off on a revised plan to create a potential $2 billion fund to provide loans and bonds for major water infrastructure projects, but lawmakers are still awaiting votes on two key measures that would actually allocate money for the fund.

  • May 21, 2013

    New DOE Head Says Energy Efficiency Is Top Priority

    Newly confirmed Secretary of Energy Ernest Moniz told Department of Energy employees at his swearing-in ceremony on Tuesday that his top priority as head of the agency will be advancing clean energy projects and improving energy efficiency.

  • May 21, 2013

    $6.4B Philly Airport Expansion Inches Toward Takeoff

    The Philadelphia City Planning Commission on Tuesday signed off on two land acquisition bills key to a $6.4 billion expansion of Philadelphia International Airport, paving the way for a full vote by the City Council.

  • May 21, 2013

    White House Calls Keystone Bill A Bid To Skirt Obama

    The White House on Tuesday came out strongly against a U.S. House of Representatives bill that would speed up government approval of TransCanada Corp.'s controversial Keystone XL pipeline, insisting that President Barack Obama must have final say on whether or not the project goes ahead.

  • May 21, 2013

    Lawmakers Receptive To Industry Push For More LNG Exports

    Energy producers and industry groups told a receptive Senate committee on Tuesday that a critical opportunity for exporting liquefied natural gas markets will be closing soon and called for federal regulators to quickly approve pending export terminal projects.

  • May 21, 2013

    Edison Strikes $37M Deal Over Malibu Wildfire Damage

    Southern California Edison Co. said Monday that it has reached a $37 million settlement with the California Public Utilities Commission over its role in the 2007 Malibu Canyon Fire that charred nearly 4,000 acres.

  • May 21, 2013

    Akin Gump Aids Laredo On $438M Asset Sale To EnerVest

    Laredo Petroleum Holdings Inc. will sell all of its oil and gas assets in the Anadarko Basin in Oklahoma and Texas to EnerVest Ltd. for $438 million in cash, the Oklahoma-based independent energy company said Tuesday.

Expert Analysis

  • DC Circ. Backs FERC's Approach To Return On Equity

    Michael Hornstein

    Recently, the U.S. Court of Appeals for the District of Columbia Circuit rejected Southern California Edison’s challenge to the Federal Energy Regulatory Commission's methodology for determining a company’s base return on equity. One noteworthy lesson from the case is that this method can have a material affect on the ROE, with a large revenue impact, say attorneys with Day Pitney LLP.

  • Recent FERC Ruling Dashes Hopes Of Oil Pipeline Watchers

    George Fatula

    The outcome of High Prairie LLC v. Enbridge Energy LP turned out to be a disappointment for industry watchers hoping for a definitive ruling on whether the Federal Energy Regulatory Commission would break with well-established precedent and require an interstate oil pipeline to interconnect with another pipeline, say attorneys with Bracewell & Giuliani LLP.

  • Rise Of The Machines — Predictive Coding Goes Mainstream

    Michael Moscato

    The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.

  • The Oil And Gas Operator's Texas Advantage

    Michael Bolton

    The interpretation by the Supreme Court of Texas in Reeder v. Wood County Energy LLC grants vast protection to oil and gas operators, but by doing so, it is perceived by some as muddling the differences between tort and contract law, says Michael Bolton and Kate Kalanick of Faegre Baker Daniels LLP.

  • Know Your Risks Before Going Green In Construction

    Aaron Mandel

    Although there are benefits to “going green” in the construction, development and operation of buildings, there are also risks unique to green building that will test the boundaries of coverage under typical liability insurance policies, say attorneys with Sedgwick LLP.

  • 4th Circ. Weighs In On Bona Fide Purchaser Defense

    William Cleveland

    The Fourth Circuit recently issued a ruling in PCS Nitrogen Inc. v. Ashley II of Charleston that may limit the availability of the bona fide prospective purchaser defense. By narrowly construing one of the elements of the BFPP defense, the court has underscored the importance of strict compliance with all requirements of the defense, say attorneys with K&L Gates LLP.

  • The Who, What And Why Of Public-Private Partnerships

    Maryam Khosharay

    Public-private partnerships have been used in a wide range of sectors to provide public services, from power plants and railroads to hospitals and sanitation plants. Yet there are a variety of potential contractual arrangements and the financing of a PPP can be complex, say Maryam Khosharay and Herbert Glaser of Haynes and Boone LLP.

  • Latest In EPA's Series Of Aggressive Coal Plant Rules

    Karl Karg

    Recently, the U.S. Environmental Protection Agency announced proposed technology-based effluent limitation guidelines and standards for steam electric power-generating units. These guidelines will certainly impose significant costs, and when coupled with the cost of the EPA’s rules under the Clean Air Act, there can be little question that some coal-fired facilities will close as a result, say attorneys with Latham & Watkins LLP.

  • Pros And Cons Of Recent Renewable Energy Bill

    Timothy Devetski

    While the recently introduced bill permitting renewable energy projects to use a master limited partnership structure seems like good policy, there is concern that opening the MLP franchise to projects without a strong track record of producing steady cash flows could result in failed projects and cast a pall over the entire investment category, say attorneys with Sidley Austin LLP.

  • Flaws In NY Court's Ruling Of Recent Natural Gas Cases

    Yvonne Hennessey

    Recently, a New York appellate court upheld lower court decisions in Norse Energy Corp. USA v. Town of Dryden and Cooperstown Holstein Corp. v. Town of Middlefield, which found municipal bans on natural gas development to be a valid exercise of home rule. There are a number of reasons, however, that the court should have instead overturned these decisions, says Yvonne Hennessey of Hiscock & Barclay LLP.