Energy

Our clients range from the largest global sponsors, lenders, developers and funds to new market entrants and government entities. This depth of industry experience, coupled with our distinct commitment to innovation, allows us to provide strategic, efficient advice on engagements across the full energy spectrum. Covering all renewable energy sources, oil and gas and electric power, we work seamlessly across 25 markets worldwide.

Orrick is one of the few global energy firms that checks all the boxes when it comes to helping our clients achieve creative results. We bring forward-thinking strategies with emphasis on client-focused innovation, including advising:

• Microsoft on developing the first “volume firming” agreement, which received Financial Times’ 2019 Enabling Business Growth and Transformation award. More information is available in our “Proxy Generation PPAs: The Next Evolution of PPA for the Corporate & Industrial Buyer” white paper (2018), co-authored with Microsoft and REsurety.
• the market leaders in underground storage and enhanced oil recovery on the commercialization of CCUS technology to capture CO₂ from the air and permanently sequester it underground.
• a global energy company on one of the largest portfolio tax equity transactions involving 2.3 GW wind and solar projects.
• an investment company on first-of-a-kind battery storage projects.
• the note purchasers on the first rated securitization of oil and gas wellbore interests, issued by Raisa Energy, which established this distinct new asset class for securitization transactions. Also closed the second rated securitization by Diversified Gas & Oil.
• on innovative projects in connection with smart cities, fiber networks, autonomous vehicles and Blockchain.

Energy Transition and Cleantech

While global demand for energy continues to rise, increasing pressure from governments, investors and consumers to support the decarbonization of the industry has commanded sweeping changes.

At the intersection of Orrick’s three main sectors of Energy, Technology and Finance, we advise oil and gas majors, renewable energy companies, investors and technology companies on the frontline of emerging cleaner technologies. From innovations in renewable and conventional energy and critical infrastructure developments to advancements in electric vehicles and battery storage technology, our lawyers are involved in all aspects of energy and infrastructure transformations and advancements.

Orrick is deeply familiar with the global legal, commercial and tax issues associated with geothermal, hydro, fuel cell, wave, and other alternative energy transactions, having handled many first-of-a-kind transactions in this field. Our hydrogen task force is hyper-focused on the future of this promising energy source. We work with our clients to identify opportunities and develop industry best practices in this space.

Energy M&A and Joint Ventures

Our global M&A team not only understands the legal aspects of renewable energy, oil and gas and electric power projects and transactions but also is deeply familiar with the key commercial issues that drive our clients’ businesses and success. We advise industry participants on all aspects of energy mergers, acquisitions and dispositions of companies, assets and portfolios of assets of both development-stage and completed projects; joint ventures, partnership structures and other strategic business combinations; auction sales; distressed M&A transactions; highly structured equity investments; and issuances of equity securities.

Energy Project Finance

Named Project Finance Law Firm of the Year by Law360 seven times, including in 2020, Orrick is a go-to firm for industry leaders in renewable energy, oil and gas and electric power, including sponsors, lenders, borrowers, equity investors, lessors, governments and others. We have advised on some of the largest and most complex finance and project finance transactions worldwide. Our lawyers combine strong industry, market and practice knowledge to advise on all types of debt and equity transactions, including equity placements, tax equity financings, nonrecourse construction and term debt, lease financings, taxable and tax-exempt debt, private offerings, private placements and Rule 144A offerings. We also have extensive experience representing multilateral and bilateral development organizations, export credit agencies, regional development banks and other government-owned or -controlled financing parties on project financings and fund transactions.

Energy Project Development

For decades we have been the firm of choice for prominent industry participants across the renewable energy, oil and gas and electric power sectors because of the innovative ways in which we design legal structures, draft project documents and manage complicated transactions. Our client work has earned us Band 1 recognition by Chambers USA 2020 for PPP, Renewables & Alternative Energy and Power & Renewables: Transactional.

Orrick’s clients cover the complete range of direct participants in a project, from developers to investors to manufacturers and utilities, giving us a deep understanding of the key drivers on all sides, a leg up in performing due diligence and an ability to bridge efficient solutions in all kinds of energy industry transactions. While we represent all parties in the development chain, our developer/sponsor focus makes us particularly attuned to developer issues and ensuring optimal investment and financing options for a project. We cover all of the development specialties for energy, including major project agreements, such as PPAs (including energy hedges), interconnection agreements, O&M agreements, EPC and BOP contracts and equipment supply agreements (including wind turbine and module supply agreements and energy storage arrangements). As a full-service firm, we also have seasoned real estate, environmental and permitting, and federal and state regulatory lawyers on our project development team.