Clifford Chance advises U.S. Department of Energy on world's largest wind farm
4 January 2011
Clifford Chance advises U.S. Department of Energy on world's largest wind farm
Clifford Chance US LLP has advised the U.S. Department of Energy's Loan Programs Office as 80 percent guarantor for a $1.3 billion loan finalized recently to help finance the construction of what will be the world's largest wind farm – the Caithness Shepherds Flat project – an 845-megawatt facility located in eastern Oregon. Clifford Chance's loan financing documentation work in support of DOE comes as part of a contract the firm won earlier this year to advise DOE on certain loan guarantee transactions.
Partner David Evans led a Clifford Chance U.S.-based Energy & Projects team that included associates Martin Hupka and Bryan Tollin. Partner Don Carden advised on tax-related matters.
Sponsors for the Shepherds Flat project are Caithness Energy, LLC and GE Energy Financial Services. The loan is funded by a group of 26 institutional investors and commercial banks led by Citibank, Bank of Tokyo-Mitsubishi UFJ, Ltd., RBS Securities and WestLB Securities, Inc.
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