With more than 40 percent of Fortune 500 companies now having targets relating to renewable energy procurement, energy efficiency or cutting greenhouse gas (GHG) emissions, it’s clear there is a real appetite for going green within the business world. Corporate Renewable Power Purchase Agreements (PPAs) are set to be one of the most popular methods for meeting these targets.
This market is growing significantly, as corporations enter these agreements due to increasing economic and environmental pressures. These structures are relatively new and complex with unique risks. Financing renewable energy projects with corporate PPAs is more challenging than financing projects with standard utility PPAs due to the often lower credit ratings of corporates, corporates' more frequent fluctuations in power demand, collateral allocation and other issues.
We help companies with every aspect of their PPAs as they target new renewable energy projects.
Biofuels are predicted to provide more than a quarter of total transport fuel globally by 2050. This growth will likely be driven in part by the significant greenhouse-gas reductions in the transport sector that biofuels can bring, as well as biofuels' ability to contribute to energy security and socio-economic development around the world.
Our lawyers are familiar with all phases of biofuels development, including:
- Advising companies on the financing of and investment in biofuels projects, through both debt and equity
- Drafting the documentation necessary to construct and develop biofuels projects, including construction agreements, equipment supply agreements and other ancillary documents
- Facilitating the buying and selling of biomass and biofuels in the market through biomass supply agreements, PPAs, etc.
We have advised financing parties, investors, sponsors, suppliers and airlines on the government incentives and regulations that directly and indirectly impact the use of biofuels, including the EU Emission Trading Scheme, which incentivizes airlines to use more biofuels. Our biofuels practitioners are part of the Renewable Energy and Clean Technology group and readily work with the Firm's Project Finance, Climate Change, Tax and Infrastructure teams, to help meet the full range of our biofuels clients’ needs.
The solar industry is experiencing change from every direction. Changes to solar technology affect profitability spreads and the ease with which project financing can be obtained. Changes to tariff and tax regimes supporting the solar industry impact deal structuring. Changes to emissions laws and permitting requirements have altered the pace of solar deals' completion.
We help you navigate these changes. With offices in the world's major solar markets such as Australia, Canada, China, France, Germany, Japan, the USA and the UK, we are well-placed to advise on country-specific solar tariffs, taxes and laws.
We have advised sponsors, lenders, governments, development finance institutions and export credit agencies on their solar deals. What makes our solar practice particularly unique is its global reach with offices in over 70 jurisdictions, providing the local knowledge necessary to advise on the numerous changes affecting today's solar sector.
Global wind energy generating capacity is expected to double every three years and will be driven in large part by government support as well as technological advances. Our Firm advised on the first offshore wind energy project in Portugal and has experience with projects in every major wind energy region of the world, including the United States, China, Brazil, the United Kingdom, Germany, Japan and South Africa.
Our global sector experience coupled with our strong local presence throughout the world enables us to advise on governmental support programs and financial structures that are currently being used in transactions. In addition, our renewables and clean technology lawyers work readily with the Firm's Project Finance, Tax and Infrastructure groups so that we are able to meet the full range of our clients’ needs and expectations.
We have experience in the entire wind energy industry, including:
- Structuring wind energy deals, including forming joint ventures, advising on support mechanisms such as feed-in tariffs, renewables certificates, grants, tax rebates and credits and other incentives, and providing advice on applicable regulatory matters
- Experience in wind energy development, including drafting and negotiating PPAs, EPCs and O&M arrangements, wind energy leases, real estate rights, permitting, licensing and other local law issues
- Experience in a wide range of financing structures for wind energy projects, all types of project finance solutions, sale-leaseback structures, leveraged tax equity transactions and private equity and fund investments
- Representing and negotiating with equipment suppliers, construction contractors and operation and maintenance companies
- Green benefits offtake