Locke Lord has one of the leading national practices representing developers, investors and lenders in the development, sale, purchase, financing and operation of renewable energy projects of all types across North America. Our long history in the renewables industry dates back to the early 2000s when we founded the Renewable Energy Coalition and led the effort to deregulate Texas' energy markets, opening the door for the explosive growth of wind energy development in the State. Since then, our practice has expanded to cover the full spectrum of legal issues faced by wind, solar, storage and other types of renewable energy projects across the nation. Our deep experience in development and commercial issues and our national footprint enable us to provide efficient, comprehensive and cost-effective representation on the full life-cycle of our clients' projects, including commercial, acquisition and financing transactions and construction and commercial litigation.
Project M&A, Financing and Tax Credits
We represent developers, investors and project owners in the sale and purchase of renewable energy projects and assets, both domestically and internationally. We routinely negotiate asset and equity purchase agreements, project governance documents and other critical project agreements. For proposed investments and acquisitions, our extensive experience in project development enables us to provide comprehensive yet efficient analyses during the due diligence process, including the evaluation of environmental and permitting risks, assessment of the real property and other rights and assets essential to a project and review of applicable federal and state regulatory and tax issues, including federal, state and local tax credits and other incentives.
In addition to M&A, our energy lawyers have played a key role in the financing of thousands of megawatts of wind, solar and other forms of renewable energy projects. We combine our broad energy finance experience with detailed knowledge of the tax credits and structuring considerations specific to the planning, financing, construction and operation of renewable energy facilities. Our tax lawyers have extensive experience in analyzing and applying IRS and Treasury guidelines with respect to beginning of construction requirements for certain renewable energy projects, and placing such projects into service for federal income tax purposes in a matter that maximizes eligibility for tax credits.
Unlike firms that focus exclusively on project finance, our knowledge of the commercial issues and our experience in siting, permitting, real estate, regulatory and other aspects of project development means that we can often handle the local counsel issues in-house while providing more practical and insightful due diligence support. This enables us to provide more comprehensive and cost-effective representation for our clients in both project financing and M&A involving project developers, portfolios or individual projects.
Project Siting and Development
Locke Lord has one of the leading practices in the nation representing project developers in the siting, permitting and development of renewable energy projects. We provide strategic counsel to developers in scoping and scheduling the suite of resource assessments necessary to ensure that a project demonstrably minimizes its impact on environmental resources and the surrounding community. Our vast experience in permitting projects gives us key insights into the expectations and sensitivities of local, state and federal officials, which we use to advise our clients on building support for the project and methods for avoiding confrontation and delay. When permits are necessary, our renewable energy lawyers have a strong track record in securing needed authorizations essential to the economic success of a project, from county special use permits to major environmental and land use permits.
Locke Lord has a robust practice advocating for clients in front of the Federal Energy Regulatory Commission (FERC) as well as a number of state public utility commissions and energy facility siting boards. We have assembled broad coalitions of developers to lobby the FERC on critical policy initiatives involving generation interconnection, transmission and market design.
Our involvement extends across all major regional transmission organization (RTO) markets, including:
Capitalizing on our deep experience in the MISO and PJM markets, Locke Lord has made numerous reactive power filings at the FERC, resulting in our clients receiving awards of millions of dollars per year for the next 30 years for existing renewable generation projects in those markets. We are at the forefront of these reactive power filings and have a deep working relationship with FERC staff who decide these cases.
At the state level, in addition to leading the effort to deregulate the Texas energy markets, we have played a key role in major initiatives, such as the Competitive Renewable Energy Zone (CREZ) process. Our team includes former officials and staff members from multiple state utility commissions, enabling us to provide key insights and strategic counsel essential to navigating these complex regulatory processes.
Commercial Energy Transactions
Drawing from our deep roots in the energy space, Locke Lord’s energy lawyers bring to bear experience from a wide range of engagements in the fossil and renewable power arenas for the benefit of our clients and their projects. Our team has handled myriad power development, supply, trading, retailing and lending issues for clients in their development efforts, giving us an intimate understanding of the interrelation of each aspect of the business. More than just negotiating a power purchase agreement, we are able to advise our clients on matters such as how retail customer credit quality will impact the wholesale supply and financing of generation development. When typical structures will not work, this deep understanding of the energy markets gives us the ability to propose creative solutions to achieve our clients’ desired results.