Infrastructure / Project Finance

Fred has extensive experience as a transactional attorney in energy (electricity, oil and gas), telecommunications and port projects, both within the United States and in several other countries, including Brazil, Mexico, Dominican Republic, Colombia, Morocco, Ivory Coast, India, Panama, West Indies, encompassing:

  • organization of project consortia and companies;
  • project development agreements;
  • offtake agreements (broad experience in drafting and negotiating power purchase agreements - PPAs - in both fossil fuel projects - natural gas, coal, fuel oil
  • and renewable projects - solar, biomass, geothermal, wind, hydro);
  • land-use;
  • concessions;
  • construction contracts, including EPC Contracts, Design-Build, equipment supply,
  • installation agreements, project guarantees and wraps;
  • operations and maintenance agreements (O&M);
  • fuel supply.

He is also experienced in the financing of projects, including with regard to individual credit facilities, construction loans, common and participation agreements, intercreditor agreements, security agreements and collateral packages, export credit agency and multilateral financing and political risk insurance.  In connection with renewable energy projects, he has advised energy trading companies on Renewable Energy Credit (REC) purchase and sale transactions.

He is currently (2019-20) representing Consolidated Edison Company of New York in negotiating supply agreements as part of its Non-Pipeline Gas Smart Solutions Program.

Power project development and finance experience includes projects utilizing the following energy sources.

  • Wind:  A U.S. independent power company in developing a 100 MW greenfield wind project in South Dakota (Sept. 2016) and several 10-20 MW development projects in the Upper Midwest; A utility-affiliated power company in the negotiation of a wind turbine supply agreement and service and maintenance agreement with a leading international wind turbine supply company for a 97 MW wind project In Texas (Nov. 2015); Con Edison Solutions in the negotiation of a power purchase agreement, turbine supply, EPC and balance of plant construction agreement for an 8 MW wind project in Massachusetts; A U.S. wind developer in the negotiation of an agreement to secure transmission rights for a wind farm development in the Southwestern U.S.

  • Solar:  Conergy Inc. in the development of a number of solar (rooftop, carport and utility scale) in the Mid-Atlantic states; ConEdison Solutions in the development of a rooftop array system for an industrial company based in Quincy, Massachusetts and in the development of a model Solar PPA and energy performance contracts used in numerous distributed solar and energy efficiency projects in the Eastern U.S.

  • Wind/Solar Hybrid:  an independent power company in a series of 4 W projects deploying a unique wind-solar hybrid technology, including negotiation of an equipment supply agreement with the supplier of the wind turbines, solar panels and power integration technology.

  • Geothermal:  A developer in the negotiation and execution of a concession with the government of a Caribbean Basin country and a PPA with the state power company for a geothermal power plant.

  • Cogeneration:  An energy services company in the development and financing of numerous on-site cogeneration projects including for a bottling plant, a U.S. Navy Medical Center, a county government center, a plastics manufacturer, a university, a department store chain, a pulp and paper mill, and a wastewater treatment plant.

  • Cogeneration/Solar/Wind:  Solar Blue LLC in the negotiation and entry into a Power Purchase Agreement with the Philadelphia Eagles for the installation of a cogeneration plant and solar and wind generation facilities at Lincoln Financial Field and an Energy Services Agreement with the Boston Red Sox for cogeneration and solar installations at Fenway Park.

  • Fuel Cells:  A U.S. Balance of Plant Contractor in an EPC agreement to install fuel cells at a site in New York

  • Natural Gas:  A U.S. power developer on a tolling agreement with Petrobras for natural gas supply and power offtake for a 160 MW natural gas power project in Northeastern Brazil and in equipment supply and EPC contracts for natural gas turbines; subsequent representation on a loan agreement to a Brazilian investment holding company; negotiation and closing of bridge project loan and later permanent take-out financing from Ex-Im Bank.

  • Biomass:  A fund in the negotiations for an acquisition of a majority interest in a 55 MW biomass plant in the Southeastern U.S., including the renegotiation of the PPA and the construction contract and the negotiation of an equity bridge loan, construction loan and take-out facility.

  • Coal:  ABB Energy Ventures and CMS Generation for the development and project financing of the 1200 MW Jorf Lasfar, Morocco thermal power plant; financing included a commercial bank facility for acquisition of concession and construction financing; credit facilities from Ex-Im Bank and other export credit agencies, a direct loan from OPIC, World Bank counter-guarantees; involved in intercreditor issues and all aspects of security package; subsequently advised the owners of the project company on the restructuring of contractual relations with the Moroccan State electric company and the reorganization of original financing.

  • Fuel Oil:  A European power equipment supplier on the negotiation of a project participation and funding agreement from a U.S. energy developer with respect to a series of fuel oil power projects in Brazil.

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