Energy

Gray Plant Mooty’s Energy Group counsels a multitude of clients in the energy sector, which includes emerging areas such as renewable fuels, ethanol, hydro, wind and biomass as well as more traditional areas of electricity, natural gas, petroleum and waste conversion.  Representative clients include financiers for ethanol projects, renewable fuels companies, electric and utility companies, petroleum jobbers, independent power providers, natural gas producers, independent transmission providers and construction companies.  We are a full-service law firm providing assistance to our energy clients in areas such as:

Capital Markets Loans   Regulatory Matters   Construction, Real Estate and Development       Agreements   Environmental Issues   Mergers & Acquisitions   Project Finance   Special Credit

Project Finance

One of our core areas of representation is in the renewable energy sector. We have represented senior lenders in connection with 28 biofuel transactions and among these, is the largest single ethanol financing to close to date ($477 million).  Most of the transactions have involved the financing and construction and operation of ethanol plants located in Minnesota, Wisconsin, Michigan, Missouri, and Iowa.  In addition to ethanol financings, we have worked with wind farm developers on their financings, development agreements, and real estate.

Special Credit and Compliance

We have represented clients in special credit matters including collections, foreclosures and bankruptcy matters.  We have represented several clients in connection with loan document compliance matters.  Our experience includes reviewing loan documents and developing bond projects.

Mergers and Acquisitions

In addition to finance, we have represented a number of companies in connection with acquisitions and sales of assets.

Examples of our M&A transactions are listed below.

• Represented a public company in the acquisition of power plants in jurisdictions such as Connecticut ($480 million); Pennsylvania, Maryland and Delaware ($600 million); and Illinois and Indiana.  The combined size of the deals was well in excess of $1 billion.
• Represented a publicly held energy company, in connection with its acquisition of power plant assets from a privately held energy company.  The purchase price was approximately $450 million.
• Represented a publicly held energy company, in connection with its acquisition of certain power plant assets of a publicly held energy company.  The purchase price was approximately $500 million.
• Represented a publicly held utility, in connection with its divestiture of a gas pipeline company.  The purchase price was approximately $152 million.
• Represented a publicly held energy company, in connection with its divestiture of certain power plant assets.  The purchase price was approximately $100 million.
• Represented a subsidiary of a publicly held energy company in connection with its acquisition of waste disposal assets of a privately held company.  The purchase price was approximately $6.5 million.
• Represented a publicly held energy company, in connection with its sale of certain power plant assets to a privately held energy company.  The purchase price was approximately $7 million.

Regulatory

Our energy team is active in state and federal regulatory developments and compliance issues.  We currently represent an independent transmission company in NPUC and Office of Administration Hearings proceedings, in gaining regulatory approvals for $750 million purchase of transmission assets.  We have also assisted clients in obtaining regulatory approvals for power purchase agreements and have represented companies in other matters before state regulatory agencies.

Key Contacts: Phillip L. Kunkel Douglas M. Ramler

Representative Clients:

• AgStar
• Allegheny Energy
• LSP Energy
• Magellan Midstream Partners
• Nielson & Associates
• NRG Energy
• Resource Recovery Technologies
• U.S. BioDiesel Group
• Xcel Energy
• Ziegler