LOS ANGELES (PRWEB) April 01, 2020
Global law firm Greenberg Traurig, LLP has been acting as lead counsel in connection with BayWa r.e. Wind, LLC’s tax equity, construction loan and sales process for the company’s 250MW Amadeus Wind project located north of Rotan, Texas.
“We are pleased to assist BayWa in this significant transaction,” said Global Head of Greenberg Traurig’s Energy Project Finance Group Jeff Chester, who led the firm’s deal team. “Despite facing the most difficult market since the 2008 financial crisis, our highly motivated team was able to achieve financial close with the construction lenders and tax equity investors. The multi-pronged deal was announced on April 1 by BayWa in a press release.
“A working relationship almost 20 years in the making culminated in a trifecta of greatly structured and executed transactions with formidable counterparties. I look forward to negotiating the sale of our Amadeus project with Jeff and his great team,” said Florian Zerhusen, CEO of BayWa r.e. Wind, LLC.
The Amadeus Wind project, according to the release, is currently in construction and scheduled to be placed in service in Q4 2020. Once operational, BayWa announced, “the project will deploy GE wind turbines across nearly 25,000 acres of federal, state and privately held lands, and could generate enough clean, renewable energy to power over 300,000 homes annually.”
In addition to Chester, the Greenberg Traurig team included Of Counsel Alejandra Garcia Earley and Shareholder April Kim, with Tax Shareholders Andrew W. Scher and Labry Welty.
Chester has deep experience handling transactions related to renewable energy, having closed more than 100 wind and solar power projects throughout the United States and Mexico. He has been centrally involved in the development of the equity, debt, and capital markets for renewable energy projects and represents developers, sponsors, lenders, and investors in a wide variety of energy finance transactions. He counsels a broad range of participants on renewable energy finance transactions involving construction and term debt, backleverage, tax equity (partnership flips and sale leasebacks), and private equity capital financings.
Headquartered in Munich, BayWa is an international renewable energy developer, service supplier, wholesaler, and provider of energy solutions.
About Greenberg Traurig’s Energy & Natural Resources Practice: Greenberg Traurig’s Energy & Natural Resources Practice has broad transactional, regulatory, and litigation experience across many sectors of the energy industry, including oil and gas, LNG, electricity, coal, wind, solar, and other renewable energy sources. The firm’s exceptional multi-office platform, including key offices in major energy centers, enables us to serve and implement legal strategies for energy clients throughout the U.S. and internationally.
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has approximately 2200 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.